If you find yourself looking to buy a home, you may have encountered a scenario in which every home that you’ve seen for sale just didn’t meet your needs. Your realtor might have told you that you can make changes to this or that home, but of course they’re going to tell you that, they just want you to buy a house and get their commission. Don’t give in just yet; there’s also the option of creating the house of your dreams with an experienced home builder.

Material Cost

Now when it comes to the overall budget of a home, the cost of the materials will be your largest expense. The largest discrepancies will exist between a luxury home built with features like marble, versus a more regular home with basic features. In the same way, if you use real hardwood floors, you can expect the cost to be a lot higher than laminate flooring.

These factors tend to be the most influential when it comes to pricing, rather than choosing between a four or a five bedroom home.

Labor

When it comes to cutting corners, this is one of the areas in which you should be paying for quality, rather than trying to save a few dollars. At the same time, everyone has a budget that they must adhere to so make sure that the features of your house don’t go over-budget because that is what drives up material costs and, ultimately, the amount of labor that must be dedicated towards that goal.

Make sure to do a lot of research on the prospective contractors that you are looking to work with. A simple Google or Facebook search will be able to show you some user reviews from their past clients and their satisfaction levels.

Remember, especially in home building, you get what you pay for so go with a quality contractor that fits your budget.

Regulations

Before purchasing a plot of land, it is important to conduct as much research as possible in regards to zoning laws that can prohibit you from building the home of your dreams. If you can’t build the home that you desire and you’ve just purchased an expensive plot of land, you’re going to be awfully disappointed.

Local governments can impose various restrictions like the height of your unit or the size of your swimming pool so it’s best to know these restrictions beforehand. However, you run into into problems, the local government may be able to offer you some flexibility, which often results in additional permit fees.

Eliminating surprises like this will take away much of the anxiety of building your own home.

Variables

With so many factors relating to the building of a custom home, it’s hard not to run into some problems and it is important to prepare for them in some capacity.

For instance, some prospective home owners hire construction companies that offer them a lower rate to build their home. However, cheaper labor might result in cheaper quality that can result in construction problems that cause delays. Be prepared to pay for the additional labor when you run into delays. The best way to protect yourself from these types of surprises is to work with a quality home builder from the get-go.

Next, various local governments have different rules when it comes to renovations and building on land. These rules vary from city to city and they undergo constant change. Be aware that certain features in your home may come with an increased tax fee that you weren’t anticipating before.

You may also be hit with an impact fee that is placed on new residential developments in order for the city to be able to fund public infrastructure to accommodate the growth.

Conclusion

There are many positives and negatives when it comes to the debate of buying a built home versus creating the home of your dreams from scratch. It is important to be aware of all the factors that go into home building before making this important step in your life.

However, once you are aware of the process and are working with a professional contractor, the house that you always dreamed of can finally be your reality.