As with any major undertaking, building a custom home will have its challenges. Knowing what those challenges may be going in can help you develop a game plan as well as put in some preventative measures to, hopefully, avoid them altogether.
Here is our list of the top five challenges we see homeowners face regularly when they are building a custom home.
Understanding the Costs of a Custom Home
Sticker shock is often something we see that floors clients that are building a custom home for the first time. Among the choices you have for a “new” home, this will be the most expensive, relatively speaking. Remember, you are starting with a blank sheet of paper and plot of land, unlike moving into a newly built development or prefab home.
You are not merely picking a few menu options from a floor plan that has already been developed, but instead responsible for every aspect of development, and each step costs money.
Having said that you will still be able to create something within your budget that enables you to create a home that reflects your personality and that can become your forever home.
The Waiting Game
This is something that drives people crazy… how long it can take for a custom home to be built. If all goes well, you can expect at least a six-month wait before you get your keys. If there are challenges, such as permit issues, supply chain issues, or even weather, that timeframe can get pushed back considerably.
Set Your Priorities
People buy custom homes because they want the home to feature everything they want, but the budget will often dictate just how much of that “dream” home can become a reality. We highly recommend you start to prioritize rooms and features before you start the process so you know where there is not much wiggle room in terms of design and which rooms you don’t mind a few changes to help ensure your prioritized rooms come out exactly the way you want them to.
Get Help if You Need It
The idea of building a custom home can be wonderful, but in reality, it may be too much for some people to take on, especially if they do not have construction experience. There are literally thousands of decisions to be made, which is why it may be helpful to hire a residential construction project manager or consultant.
Stick to Your Budget
Once you have a budget, stick to it. We always suggest a rainy day fund for surprise costs and possible add-ons that you want at a later date, but that money should also be counted into your final budget (and if you don’t spend it, great!).
If you start to randomly add things or change designs as this process is playing out, you are going to find out that your home is going to come in way over budget, and possibly put you in financial difficulty. STICK TO THE BUDGET!
Need help with your custom home build? Give Better Build Now a call to see how we can help. Call us at 888-402-4180 for more information about our residential construction project manager and residential construction consultant services.