Who doesn’t love the idea of owning a brand new home, something no one has ever lived in before. While the newness is nice and enticing, new home construction is also about personalization, meaning that you get the home the way you want it, fully customized to your liking. The excitement of building a new home can often overshadow the preconstruction phase. After all, you never want to enter into a contract blindly. Therefore, to ensure you get everything you want, you will need to focus on five crucial considerations during the planning phase.
How much money do you have set aside or planned for a new home build? The current average for home construction is about $150 per square foot. That means if you want a brand new 2,000 square foot home, you will need to budget around $300,000. Now that doesn’t mean you need all that money on hand and out-of-pocket, but it does mean you need to secure financing.
2. Life Stage
Before investing a significant sum into a home build, it is necessary to consider your life stage and intention with the house. Are you planning on spending the rest of your life in the home, or will it act as a transitional piece of real estate for a larger home later? If this will be your forever home, focus on getting everything you want, within your finances.
Since new home construction can be a costly endeavor, make sure you are purchasing in a location you desire. Many people buy outside of the area they want to live only to be disappointed a few years down the line.
4. Size and Model
Make sure that you are not purchasing a house that is too large or too small for your needs. Also, pick a model that caters to your physical ability.
5. Personal Style
Your style matters in home construction. Do not let someone drive your style decisions for you.
New home construction is a luxury to most people. If you can afford it, make sure you get precisely what you want, but don’t rush.