Building a custom home has got to be one of the more exciting undertakings in our lives. To finally live in a house designed and built for your needs gives a tremendous sense of satisfaction. However, being aware of mistakes to avoid when building a custom ensures that the excitement is not replaced by regret. Here are some tips from a custom home builder in Victoria BC.
Here a few important considerations to have in mind when building a custom home:
- Set a realistic budget – don’t get in over your head adding features to your custom home that you will not use or enjoy on a regular basis. If you are taking out a mortgage for your new custom home, be aware that some lenders are more strict when a mortgage for a custom home is being applied for. Costs will be different in terms of labor and type of materials, so a more thorough is undertaken by creditors. Consider talking to mortgage specialists for a more hassle-free process in your mortgage application. There will be inspection and permit fees to consider, as well as taxes on labor and materials. All these will factor into the cost of the project. If there are previously existing hazardous materials on the work site, then you should factor in the cost of removal or remediation.
In addition, don’t buy furniture, a new car, or something similar expensive while applying for a mortgage. This will affect your debt-to-income ratio, and this will have a bearing on your perceived ability to pay.
- Choose your lot very carefully. Don’t be egged on by a realtor who wants to make a sale, or by the realization that your preferred housing development is running out of available lots. There are many considerations when building a custom home, and these include the lot gradient, utility connections, the track of the sun, and whether the lot is in an intersection, cul-de-sac, or a creek that may flood. If you have children, you may want a quieter area in case they want to go out to the street and play.
- Consider your future lifestyle when you look for a lot and have a custom home designed. Having a custom home built means that you will probably stay in that place long term. Will your family be expanding? Then bedroom count and common areas (play area, study/library, a quiet nook for the parents) are important considerations. Or are your children off to college in a few years and you’ll be finding yourself with an empty nest? Then consider a room layout that can easily be converted into a home office or hobby room. Also consider that if you will be living in this custom house until your golden years, you may find better to have a room on the ground floor, instead of one overlooking the hills or ocean when you were younger.
Be sure your custom home builders see this list before moving forward with your custom home.