Building your dream home requires a lot of planning and ideas. The right kind of wallpapers, the right interiors, proper appliances- all these are essential when you wish to build a house just perfect for you. The real estate market is a booming one, with a market size of $2774.45 billion in 2021 globally.
In such a huge industry, how will you make sure the home you build turns out to be perfect? We have here a list of five tips to glam up your home in the easiest way possible!
1. Set a realistic budget
We all want mansions and huge bungalows but in reality, how many of us can actually afford those luxuries? Your dream home doesn’t necessarily have to have a giant, sprawling lawn or swimming pool. In order to actually go ahead and build that house, you need a proper budget. And that budget needs to be realistic.
The materials and labour cost should be around 75% of your total spending. Don’t forget to keep some amount as extra too, in case you end up overspending a little. Here are some ways to save up on money:
- Have a smaller floor plan
- Do proper research on the cost of raw materials and supplies
- Enquire about tax credits
- Save on moving and transportation costs
2. Find the right people
Homebuilding isn’t just painting and making electricity lines. It takes an entire team of dedicated people to work hard. This is why you should always look for the right people. Whether you’ll apply for home loans or hire a contractor- going to a reputed place is necessary. Look for a bank that gives you good loans on real estate.
Construction loans: These are short-term loans that have a high rate of interest. These loans cover both the homebuilding as well as the land expenses. In order to gain approval, you’ll have to chalk up a detailed plan of the budget, expenses, and timeline.
Land loans: These are loans meant for purchasing a plot of land. In most cases, they are labelled as “improved land loans” which indicates that this land has proper access to transport, electricity, and water lines.
3. Understand your expectations
It’s nice to buy a lot of luxurious and stylish items when you want to move in but then you get a reality check once you see the prices. If you wish to stay within the budget, there are some sacrifices that have to be made.
For example, hardwood floors, granite kitchen tops, and smart home technology are things that might look good but aren’t essential. But don’t be disheartened; you can easily find a replacement for these items in any market.
These days, popular pictures and sites give you “house goals” that show grand decor and expensive taste. But what they don’t show are the sky-high prices. So be sure to not fall into the trap.
4. Assemble a good team
A good team of workers is what truly makes a dream home beautiful. It’s typically useful to first get in touch with a builder and then discuss your goals and wishes with them. In order to choose the right kind of builder, here are some tips:
- Do research and list down the names of a few reputed builders in your locality.
- Observe what kind of homes they build and how much they charge.
- Ask them about their credibility and how long they have been working in real estate.
- Meet them in person and resolve all your doubts. If they have any preferred method of working, ask them too.
5. Focus on details
Looking at the big picture often makes us forget about the details. You need to focus on as many details as possible to ensure your home really turns out to be your dream home. Even though it’s not possible to micromanage all the time, here are a few tips:
- Communicate with the builder
- Track your spending
- Try not to change your mind too often
- See if the progress is lining up with your plans or not
- Keep a written document of everything that you may need
Over to you…
No matter how much effort and dedication you put into building your dream house, you’ll keep hitting a snag here and there. But don’t lose hope. Keep working with your team and maintain communication to turn your dream into a reality!
