When you build a home, there are many additional factors to consider than purchasing an existing home. This article lays out several things for a first time homeowner to consider when building new.
Sometimes this can require you to take on the role of a general contractor, and it will be critical that you find a contractor or builder that can build within your budget while adhering to the time constraints involved with creating something new.
When starting as a first-time homeowner, there are several things you need to look for to build your custom home successfully:
Status of construction-related permits – Before even thinking about contacting any contractors or builders, check with your local authorities to see if the plot has clear and relevant planning and construction permits.
Is the designated area buildable? – Verify that there has been no prior construction project on your designated plot or adjacent plots, which would make it impossible to build new homes on such land (e.g., the proximity of existing buildings).
Check for Conformity Certification or Building Code Compliance – Your custom home builder should be able to provide you with this document as proof of conformity with the applicable building codes and standards. Financial institutions usually require this before advancing credit facilities for house construction.
Verify availability and eligibility of bank mortgage – If intending to build using a bank facility, check if you meet all requirements and if the land you plan to build on is eligible for such a loan. If your custom home builder can not provide this information, they probably are not familiar with the construction industry and should be avoided.
Ensure electricity provision – This may be addressed differently depending on where you build. Still, it is vital to ensure access to primary electrical and secondary backup power supplies (generators).
Availability of water – Your custom home builder should also show evidence of safe drinking water available in adequate quantities or alternative arrangements made for potable water storage. If your plot’s water availability cannot be verified, don’t waste any more time thinking about building on it.
Source of firefighting water – Where applicable, your custom home builder should provide evidence of a source of water for use in fire fighting.
Site development and reclamation plan – If you build on virgin land, the contractor or builder will need to do site development and reclamation plan before starting construction.
Availability of labor force – Where labor is scarce, you may have to build during the “rainy season” when most locals are at home farming their subsistence crops.
Check for availability of building materials – A local supplier who can prove that it has an established supply chain for building materials should deliver all necessary construction materials within the scheduled time.
Check for local building regulations – Building regulations are not always standard across different regions, so do your research before starting construction to ensure you build something that meets the required standards.
Availability of skilled labor force – Where necessary skills are available in your area, make sure it is affordable or employable by your custom home builder. This will significantly reduce build time and ensure maximum build quality.
Remember, banks tend to look differently at building over buying because building costs more. Construction also takes much longer than purchasing a used home which is why many build during retirement as there is no limit on how long it may take and can be fully custom for their needs.
In Summary, Understanding How Building Your First Home
Are you looking for a custom home builder who can prove the investment value of building your first home? Contact McCalls Home Builders today to learn more about our neighborhood plans. It’s not just your future home you’re building; it’s your community.