Choosing the right home builder from the many available Greensboro home builders is just the first of many decisions that you will need to make when building a custom home. Making bad decisions, or making these common mistakes, can cause your custom built home to take longer to complete and to go way over budget. These are some of the most common mistakes that home buyers make when having a custom home built. Avoid making these mistakes if you want to make sure that your custom home is completed on time and is the home of your dreams:
Not Carefully Picking The Lot For Your New Home
Home buyers often are so caught up in the planning of their dream home that they forget that the lot matters too. The location, size of the lot, and the view from the lot will all have a big impact on how you live and how much enjoyment you get from your home. Don’t get so wrapped up in the idea of the house that you forget to notice the details of the lot. Check for things like traffic, the view, and the amount of noise around the lot to make sure you don’t end up with a great house in a bad location.
Choosing A Builder Based Strictly On Price
Budgets are important, but when it comes to having a custom home built you should always prioritize the quality of the builder and the home over the price. The lowest priced builder is not always the best value. Remember that this is the home you’re going to be living in for years to come, so it makes sense to spend a little more money now to ensure that you are getting a home that you will love for many years and that functions the way that you need it to function. Compare the quality and reputations of the builders and not just the prices that they bid.
Making Big Purchases During The Construction Of The Home
It can take up to a year for a custom home to be built and the mortgage for the home won’t be finalized until the house is finished. Often people assume that because they have a contract for the house and the house is being built that it’s ok for them to make major purchases like new cars or other large, expensive items. Doing that will drive up your debt to income ratio and could result in you getting a higher interest rate or paying more for your mortgage. Keep your spending low until you have a mortgage and are ready to move into your new home.
Not Planning For The Future When Designing The Home
Thinking long term is something that many custom home buyers forget to do. You think about the features and functionality that you want in a home now instead of the features and functionality that you will need in the future. When you are designing your home, keep the future in mind. Maybe a master suite on the ground floor isn’t appealing to you now, but in ten or twenty years when it’s more difficult for you to go up and down the stairs, you might reconsider a master suite on the lower level. Think about the future when you are planning the design of your home.
Making Changes After Construction Begins
Too often, home buyers want to make major changes to the design of a home after the construction has started. This can drive up the cost of the home and cause large delays in completing the home. Take your time planning the home during the design phase and once the construction has started, stick to that plan. Don’t make changes after construction begins unless you absolutely have to.
Not Planning On Contingencies When It Comes To Construction
There are a lot of costs associated with a custom built house and the right Greensboro home builders will do their best to stay on budget. However, home buyers should always plan on a few contingencies popping up along the way that can cause delays or increases in costs. Every building project is bound to have some things that don’t go as planned and end up eating up the budget or the schedule for the new home. Smart home buyers plan for contingencies by making sure that have extra money set aside for any unexpected surprises.
If you want to learn more about the common mistakes that home buyers make when they are buying a custom home and how you can avoid them, talk to one of the knowledgeable staff members at R&K Custom Homes today.