Embarking on a brand new project is always exciting and few projects are larger or more exciting than new home building. Building a new home comes with a range of joys as well as its challenges. The trick to success is balancing these things, while also keeping your eye on the bigger picture. To guide you on that process, here are 5 things to keep in mind when building your first home.
- Set a Strong Budget
Understanding your strengths and limitations is always the key to success, and this is no different with new home building. Before you even begin the process of building a home, examine your income and your expenses and determine what you’re willing to spend.
Having a strong budget and an upper spending limit will better guide your decisions in regards to land, design, home fixtures and much more.
- Seek Financial Advice
Setting a budget is one thing, but understanding mortgage rates, comparison rates, and the best deal for you is another. Getting comprehensive financial advice is therefore vital in the homebuilding process, and you shouldn’t just talk to your bank.
Make sure you talk to a professional and independent mortgage broker too. These experts can give you all the best advice and guide you towards the best deals for you.
- Think About Futureproofing
A new home is an investment in every sense of the word. If you want a home that your family can live in for years to come and sell for profit at the end, consider futureproofing.
Investing in home automation technology is one great way to do this. Already you can purchase fully-automated alarm systems, lighting, smart applications and more.
Another strategy for futureproofing is preparing your home for changing conditions and attitudes. It is a good idea to invest in energy efficient and environmentally friendly features, including LED fixtures, new home appliances and effective insulation.
- Design for Your Plans
It’s easy to get caught up in designing your house for the now, but it’s equally important to build it for your future plans. When looking at house plans and talking to the experts, think about how your lifestyle and your family might grow and change. You can’t predict everything, but it pays to be prepared.
- Prepare for Smart Extensions
Extending your property might be the last thing on your mind now, but even with extensive futureproofing and forward thinking, you may still need to extend.
It always pays to find land with a bit of extra space so you have the option to build out if you need to. If the block you’ve chosen has that space, why not consider extending sooner rather than later.
Building a granny flat onto your home could come in handy immediately and into the future. You could rent out the flat for extra income now, and have it for your older children or your parents in the future. With custom design options at your fingertips, a granny flat could be the best feature of your new build.
Those are just 5 things to keep on mind when building your new home. Feel free to leave your great advice and tips in the comments, and good luck on your home building journey.