4 Important Factors When Building a Custom Homeby Kuhrich on Monday, September 23, 2013
So, you are preparing to build your dream home. This is an exciting time for you and there are a million things going through your mind. This is the moment where it’s time to stop and take a deep breath. You have been moving a million miles an hour and the slab pouring ceremony is rapidly approaching. Right now is where you take the time to review all last-minute considerations.
Building your own custom home is a monumental endeavor. Even if you are a builder, taking on your own home brings in some dynamics that make it much different than the contract jobs you may have taken in the past. One of the worst mistakes that you can make at this juncture is to underestimate the task at hand.
These four things require some serious consideration when finalizing the design and beginning the custom home building process.
Beware of Over-Customization
One of the most common mistakes that homeowners make when building their own home is going overboard on customization. What this means is that the owners build the home with great specificity to their particular preferences. To a certain extent this is fine; however, when some of the customizations are beyond unique and uncommon, it could have a negative impact in the long run. No matter how much a family insists that they will never sell their home, the numbers show that they most likely will at some point.
When you over-customize your home, you could be adding elements that will make it extremely hard to sell. You don’t want to end up with a home that someone would have to totally rebuild before they would be willing to move in. It will be almost impossible to sell if/when that day comes. You don’t want a bunch of customizations that only you like.
Don’t Underestimate Kitchen Power
One of the most-used rooms in your house will be the kitchen. People are heavily influenced by what they see in the kitchen when they are home shopping. It can be a make or break moment for potential buyers. A minor kitchen remodel yields an almost 83% return on investment. Yes, you may be building a custom home. However, even when you are a building a house for the purpose of occupying it, you are still building it to sell. The very value of your home is based on the projection of what it will sell for.
Be Wary of Overbuilding
You will be tempted to try to squeeze everything that you have ever dreamed of into this house. Don’t do it. Once again, everyone will not like everything that you like, plus you don’t want to overbuild your area. In other words, the area that you live in has a certain range of comparative home value and a common type of elevation. If you build too far past the average comparative home value, you run the risk of losing non-recuperative value in the home. The value of other homes in your area will have a bearing on the value of your home and could cause you to take a loss later.
Choose Your Contractor Wisely
No matter how involved you plan on being in the building process, you will want to choose a reputable, reliable contractor. Make sure you get know your project or site manager well before the process begins, and always express your requests and concerns to him; not the sub-contractors.
If you follow these simple steps you will find the process and the outcome will be something that you can be proud of.