Building your own home is an exciting and often a stressful time given the amount of decisions to be made. With so many things to consider, there’s plenty of potential for oversights by not planning adequately for the future. From failing to budget properly, choosing the wrong home design, and other issues that can affect the home’s resale value, these three cardinal sins of home building are to be avoided at all costs. You have been warned!
Blowing the Budget
It’s important buyers account for all costs that are associated with building a home. Many home builders such as Coral Homes will package all costs together in one price, but it’s important to read the fine print and recognise that this may not include certain features including landscaping and other external features such as flooring, window treatments and other inclusions such as air conditioning.
Before the concrete slab is even poured, there are many costs that homeowners may overlook, including excavation and land levelling, soil testing, solicitor fees and development application fees. Before you choose a home and a builder, it’s important to understand what costs you will need to bear and make adjustments to your budget if necessary. This may mean choosing more affordable fixtures and fittings or keeping features simple for now but ensuring they can be added later. It’s also always wise to allow a buffer in your budget for any unforseen expenses, or a certain feature that you simply must have.
Choosing the Wrong Design or Layout
The wrong design can severely impact the way you use and enjoy your home – that’s why it’s essential to not over or undersize with the amount of space between the walls. If your family is expected to grow this should be accounted for, but remember an oversized house will eat into the backyard and will make the home more expensive to build and heat. It is also important that the home’s floor plan is positioned on the lot in the best way. This may mean having sleeping areas away from the street or kitchen, and taking advantage of natural light and air flow. Once the blueprint of a home has been built into a solid reality, it’s almost impossible to change without significant cost. That’s why the design and the location of certain rooms in relation to one another should always be carefully considered before building begins.
Not Considering the Investment Potential
As well as a place to live, our homes offer us financial security. One day you’ll want to sell, and if you’ve built the home in the wrong area or the wrong style of home for the neighbourhood, it may make it difficult to net a tidy return on your investment. Before choosing a building location, make sure to consider the real estate fundamentals such as proximity to shops, schools, and transport links. Take a look at other homes in the neighbourhood and ensure your home matches others on the street, both in style and size. When designing the home, consider features that are attractive to a wide pool of potential buyers, otherwise it may later prove difficult to sell. Aim to build in areas of growth rather than areas that may be in decline. These are often settlements where future infrastructure is planned and where there are solid employment prospects. This will help to ensure when it’s time to sell, you net a profit rather than a loss.
Fortunately, when building a home, you can learn from the mistakes of others and ensure your new home building experience is remembered for the right reasons. What are some other ‘cardinal sins’ of building? Share your home building faux pas by leaving a comment below!