Being able to custom-design a home from the ground up is something that many people dream about but very few people actually end up doing. If you're looking to have your dream home custom-built, surely you're looking forward to the day that you get to set foot inside your completed home for the first time, but there's a lot that will have to happen before that day comes. Before you embark on your custom home journey, there are some common mistakes you'll want to be aware of and avoid.
Choosing a Builder Based on Price Alone
Budget is a top concern for most people building a custom home; after all, you want to make sure you end up with the best possible home for your money. However, it's important to understand that you get what you pay for when it comes to home designers and home builders. Rather than immediately going with the custom home builder who offers you the lowest overall bid, you should take some time to compare quotes/estimates and determine which option will give you the best overall value for your money.
Overlooking the Fine Print in Your Contracts
One of the most important decisions you'll make when you have a custom home built is signing a contract with your designer and/or builder. Sometimes, your designer and builder will be covered under the same contract. In other cases, these may be separate entities with separate contracts. Either way, make sure you carefully pore over every detail of your contract(s) before signing on the dotted line.
Specifically, be on the lookout for terms regarding estimated completion dates for your project, warranty information, and payment obligations. If anything is unclear to you, consult with an experienced real estate lawyer for further guidance and clarification before you sign.
Failing to Account for Scheduling Delays
Even the best home builders will often end up with scheduling delays due to circumstances beyond their control, such as inclement weather or even supply issues. With this in mind, you should always have a contingency plan in place for the (likely) event that the completion and closing of your custom home get pushed back. This might mean speaking with your current landlord (if you're renting) to work out a month-to-month payment option or being prepared to list your current home for sale a little later if needed.
Building a custom home should be an enjoyable experience. By avoiding these common mistakes, you can make sure that is the case. Start your custom home plans today.