Everything You Need to Know When Building a Dream House


Building a new home is something that every person dreams about and saves for his/her entire lifetime. Even if you’ve generated a huge sum on the savings account, this is not a safe guarantee that the whole project would go without a hitch. There are certain aspects of building your home that you need to know before you even call a contractor.

Handling the figures

Like we said, having enough money is not a guarantee that the project will end up the way you wish to. There are many hidden costs that might force you to get a bank loan. That’s why you need to sit down and calculate the estimated cost into your total funds. Account for other costs as well, such as taxes and tax returns. There are laws in place in many states that allow young couples who are building a house for the first time to get a tax deduction. Finally, don’t forget to create a contingency budget for cots that are impossible to predict.

Planning a contingency budget

An emergency fund is something you shouldn’t start the build without. There is no telling what may go wrong, so a contingency budget of around 10% of the total investment should be available at all times. This will help avoid the worst scenario of running out of cash in the middle of the build. Just one look on the building frames scattered around the city is a reminder that going bankrupt is a real danger that should be avoided early on.

Who will build the house?

Hiring a contractor is not as easy as it seems. There are fraudulent builders out there that are forcing prospective homeowners to be extra careful. Go through the portfolio of a potential building company looking for projects similar to yours. If they are excellent builders but have erected mostly commercial structures, then they aren’t the best choice for your dream house. What you really need are experienced new home builders who have executed similar projects and know what to expect. In fact, you might ask the builders to help you with the finances if you’re having any doubts.

The layout is not unimportant

One of the more common problems prospective homeowners face is a terrible layout in their new house. Since you are building and designing the house from scratch, you have the opportunity to get the layout of the rooms right. Have a sit-down with the architect to inform them of your wishes, such as the bedroom located on the south side to receive more natural light. Furthermore, you can use the space above the garage for an extra room that can serve as the nursery. Remember, you might be building the house now but it will hopefully be the residence for at least three generations of your family.

Implementing green technologies

Today, homeowners are spending thousands of dollars to have their edifices refitted to meet eco-standards. Green technologies are basically a must in home building so don’t forget to incorporate them in your green home. You won’t only help preserve the environment and save energy but the utility bills will be low once they start arriving. In fact, if you install solar panels or a wind turbine on your roof, the electricity bills will stop coming because you’ll actually export power instead of consuming it. How cool is that!

Moving in

The final and the sweetest part of the build is actually moving in. However, this can turn into a logistical nightmare if you’re not prepared properly. The cheapest way to move and the grandest one at the same time is soliciting the help of your friends and family. Perhaps you’ll need to hire a truck but that’s all; your friends will handle (quite literally) the rest. Oh yeah, don’t forget to throw a huge housewarming party for everyone who pitched in to help with the move.

These are the most important points to consider before you embark on the building project of a lifetime. If you do everything right, your dream house should be just half a year away from moving in. 

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