New Home Building Tips...

So you've decided to build/contract your own home.  That's GREAT!  It's likely
that you have made the decision because you want to be in charge of the
important decisions about your new home AND because you want to save
money.  In all the excitement, however, don't loose sight of several fundamental
aspects of keeping your investment -- your new home -- financially sound. Keep
in mind the following home building tips when making your decisions:

  1. Don't build the biggest/fanciest house in the neighborhood.  This is a
    deadly mistake to make...you will have a very difficult time selling it if need
    be.  No one wants to be a trail blazer for an entire neighborhood.  Your
    neighbors will love you, but you'll be the one paying the price with your
    hard earned equity.
  2. Think about resale.  Even if you never plan to sell your home, things can
    -- and often do -- change.  So make sure the house you build appeals to a
    variety of home buyers. You may not need more than one bedroom, for
    example, but that doesn't work for most people.
  3. Be careful choosing the exterior design.  This is where curb appeal
    starts. You can have your own unique style, but it needs to blend in with
    surrounding homes to some degree.  Don't buy a lot in an all traditional
    neighborhood, for example, and then build a contemporary home because
    it appeals to you.  This will be a tough resale situation.
  4. Don't believe square foot estimates.  You can not (repeat NOT)
    determine the price of a your own home, by applying a standard price per
    square foot quoted by someone else.  There are just too many variables
    that factor into custom homes. Read our discussion about square foot
    building prices.
  5. Choose a great location.  The old adage that the three most important
    things in real estate are "location, location, and location" still holds true
    today. This means not only the location of the neighborhood, but also the
    location of you property within the neighborhood. For example, many
    people think that lots located next to the community swimming pool or
    lighted tennis courts are less desirable.
  6. Choose a lot or land that is easy to build on.  Since this is your first
    building project, you don't want to tackle a tough building site.  A difficult
    site almost alwasy drives up the cost of grading, foundations, site work,
    etc., and you may likely end up over budget right from the start.
  7. Get pre-qualifed before you begin.  Make sure how much you can afford
    BEFORE you start looking for land, selecting plans, etc.
  8. Have a contingency plan for the settlement date. A good schedule will
    provide you a general guideline for your home's completion date. But
    delays often happen during construction and you should have a back-up
    plan for what you will do in case the house is not finished on time.  
  9. Make your decisions in the planning stages.  Don't wait until the last
    minute to decide on construction methods or the extras you want or the
    paint colors, etc. Doing so will negatively effect subcontractor pricing and
    the overall flow of the project.  You'll be creating your own delays as well.
  10. Keep your overall goals in mind.  Remember that you are building your
    own house so that you have control over one of the most important
    investments of your life -- your home! Applying the principles above will
    keep you on the track to building a solid financial investment as well as a
    wonderful home.

Enjoy browsing our website and then buy our e-book, The Ultimate Guide to
Building Your Own Home: Save 30% to 40% on the Cost of Your New Home  
for an in-depth look at the entire process including many insider tricks and
secrets!
Helping You Build Your American Dream Step-by-Step