How to Fulfill Your Fantasy With a Custom Home

Many dream of a custom home, built with all their dream features like a home theater or gym. While it’s true that buying a home is a big part of the American Dream, building a custom home to your exact specification elevates the experience to another level. But before you begin the process, you have decisions to make. This article sets out to provide a pathway for you to realize your dream of a perfect home.

Step 1. Figure out financing

Before you commit to anything, you need to decide your budget. If you don't already have land you can build on, be sure to figure in this price to your total. You'll need to look for construction loans. These typically require better credit and larger down payments than a standard mortgage loan. You might find you can afford less house than you thought once you've secured your financing. Be sure you have plenty of money saved on top of this so you can cover any hiccups and delays in construction.

Step 2. Determine what you want

During this phase, you should decide what you want versus what you need in your home. Think of things like how big your family will be as well as what rooms you want to have. Rank these by how important you feel each one is. Keep in mind how much you can afford while you decide. After this, start deciding on architectural styles and the looks of your home. Once you have this, you're ready to move onto the next step.

Step 3. Find your architect and builder

Once you know what you want, you can search for builders and architects that have built homes similar to what you want. Be sure you shop around and get quotes and reviews. Many local associations can point you in the direction of firms that can help you. You can approach a builder or architect first to get recommendations or find a firm that offers both services.

Step 4. Pick your land and make your building plan

Once you have a builder and architect, they can help you tour plots to pick a good piece of land for your project. If you already have land, they can offer you advice on costs and practicalities like installing utilities and building a driveway.

If you don't have land, your builder can help you pick a site that will lower your total cost. Hidden costs like leveling a difficult plot can add up faster than you'd think.

Step 5. Adjust your plan and finalize

At this point, it's time to finalize your plan. With your land and knowledge of what you can afford, you should make your final plan for the home.

Be sure to consider things like the neighborhood and plan for if you do ever need to sell. Having a home that is a similar size to the other homes in the community will make it easier to sell if you ever need to. Make sure you look into any Home Owner Association rules if you are building in an area with one.

Step 6. Build your home

Finally, it's time to build your new home. Custom homes can take six months to a year or more depending on factors like the options you chose and hiccups in the plan. During this time, expect to be very involved in every decision.

You will be asked for style and color choices for nearly everything you can think of and plenty you didn't. You need to keep up with these decisions or risk your home taking even longer. You may also experience glitches and setbacks that may get expensive. If you made sure to have money set aside over your budget, this shouldn't tank your project.

Step 7. Inspection and moving in

After all the work of construction, all you have left are standard inspections. Once they are passed, you're ready to move in and enjoy your custom home. With a home made to your specifications, you should be happy for years to come.