Wednesday, 12 June 2024

What You Need to Know About Building a Dream Home

So, you want to build a dream home. Maybe you searched the markets nearby and didn’t find a single available house that looks like somewhere you could live in, or maybe you want or need a home that is built to certain specifications, like wheelchair access. Whatever your reason, building a dream home can be a rewarding and exciting experience, and it can cost less than you think. Here are some things that you should expect when building a dream home for the first time.

First, you should decide whether you want to design plans yourself or have someone else do it. You can find all-in-one home builders that have many plans and many varieties of material to choose from. You don’t have the freedom to choose exactly what you want this way, but you do get to skip the headache and expense of drafting up plans yourself and researching materials on the internet. If you do end up building a dream home with a design you made yourself, you will need a contractor to make it happen on the ground.

Building a Dream Home - Elegant Villa Mayavee in Phuket by Tierra DesignElegant Villa Mayavee in Phuket by Tierra Design
Elegant Villa Sow in Dakar by SAOTAElegant Villa Sow in Dakar by SAOTA

Next, determine what kind of budget you have for this project and how it is going to be spent. Do you want to spend more money on making your dream home more efficient and saving you money down the road, and have you allowed for everything that your home will need – including appliances and possibly furniture. You should allow in your budget for the construction in your home to take three to four months, or six maximum if the home is more intricate or larger than average.

Dream Home - Luxury Home with Stunning Views in Los AngelesLuxury Home with Stunning Views in Los Angeles
$26 Million House & for Sale on Malibu Beach$26 Million House & for Sale on Malibu Beach

Now, make sure that you have a builder that you like and trust. You want to be picky when it comes to choosing your builder, and ensure that they have a plan for each task including time frame and design. You may want to be involved in the process of building the home as it happens, and making sure that you have a builder that you can talk to and bring ideas to is vital. You should also choose a builder who will take the lead if you decide to step back, and work within your specifications themselves.

Dream Home - Great Meera House by Guz ArchitectsGreat Meera House by Guz Architects
Tangga House by Guz ArchitectsTangga House by Guz Architects

So, how do you plan to pay for your dream home? If you have the cash in the bank to cover all of the costs that’s great, but what if you are someone who wants to get a construction loan to build your home. This process is different than applying for a mortgage and you should make sure that you new construction loan pays for the builders, suppliers and subcontractors as well as a new mortgage loan for when it is complete.

Dream Home - Unique Siglap Road House by Aamer ArchitectsUnique Siglap Road House by Aamer Architects
The Glass Pavilion - an ultramodern house by Steve HermannThe Glass Pavilion – an ultramodern house by Steve Hermann

Building a dream home takes some planning on your part and one of the things that you’ll come to expect is little thing – delays, problems, unforeseen circumstances. It happens in every instance of new home construction. These delays can make or break you depending upon how well you handle the chances, and the caliber of the people that you hired in those positions. Here are some more great quick tips for building a dream home.

  • Look for appliances and fixtures that are going to stand the test of time and will increase the value of your home when and if you decide to sell it.
  • Use the “rule of 10%.” Whatever something is supposed to cost, however long something is supposed to take, always add in 10% as a safety net. This will save you time, money and worry.
  • Treat square footage and ceiling space equally. Remember, you are building to create the most value possible and ceiling space is almost as important as square footage. A high ceiling can do amazing things for a room.
  • Use optical illusions when possible. For example, did you know that painting a door half as light as the color of the surrounding material will add definition and value.

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