Getting Your Ducks in a Row Before You Break Ground
Building a new home is arguably one of the most complex, elongated processes you’ll ever go through. You can expect this project to take around seven months, if you go by what the U.S. Census Bureau reported in 2019. Of course, that timeline can be extended by workforce or zoning issues, permit delays, design changes, budgetary constraints, unexpected costs, and challenges with the weather.
The fact of the matter is, no new home build ever goes perfectly. Building a house means being a constant problem-solver. The best way to do that is to familiarize yourself with the home building process as much as possible so that you can anticipate issues before they happen. Additionally, you’ll find that the process is much easier if you hire knowledgeable people to manage the project.
Here are five big steps to consider before you start building your home.
#1 – Plan Your Budget and Pad it Accordingly
There’s one nightmare scenario that you absolutely want to avoid when building a new home, and that is running out of funds right in the middle of the project. There’s absolutely nothing more heartbreaking than a partially finished home that you can’t afford to complete.
So, how do you plan for that? Budgeting, of course!
The budgeting process is about balancing what you absolutely need along with what you want included. You may not get everything, but you should be able to get close enough to your dream home that it suits you and your family’s needs.
Our advice is to speak with a financial advisor who has no stake in the project. Get their expert opinion on how much your home should realistically cost to build. The other thing that you should do is to plan to go over budget. Why? Because most construction projects do. That’s just the nature of the business.
#2 – Find the Lot Where Your New Home Will Be Built
Finding a lot is another big step because you’re effectively deciding where you and your family will be putting down your roots. All new build homes in Denver and other major areas start by selecting a lot – a blank canvas, if you will – to build upon. Make sure to check on the following items before deciding to put money down on a lot:
- School district and ranking of schools
- Quality of neighborhood
- Proximity to things like shops, grocery stores, entertainment, etc.
- Crime rate
- Price compared to other lots of similar size
#3 – Pick and Plan Your Home (With the Help of Experts, Of Course)
Now that you have a lot and a budget all firmed up, you can move on to the next phase: picking out a home. In many cases, builders will have a wide selection of home blueprints that future homebuilders can use to get started. Of course, the more things get altered, the more costs are going to be affected. Your architect and designer can help you find ways to cut corners if it turns out that the project is getting to be too costly.
#4 – Vet and Hire a General Contractor
We cannot stress how important it is to find a knowledgeable and dependable general contractor to run your project. Of course, you can always attempt to run the project yourself, but we strongly advise against it if you have no experience in these matters.
General contractors supervise and coordinate every single aspect of the project, including the hiring of subcontractors, getting permits, finding building supplies that are within your budget, and so on. Rather than you having to squabble over the price of lumber or insulation, your GC will do that for you.
Make sure that you thoroughly vet your general contractor before hiring them on. Their prior work and what previous home builders have to say about the general contractor carries a lot of weight. Our advice is to get at least three references on a general contractor before committing to hire them.
#5 – Assemble Your Team of Homebuilders
Once you have your general contractor all lined up and committed to your project, they will be the point person who helps gather the rest of the home building team. This includes concrete contractors, carpenters, electricians, excavators, roofers, and so forth. A seasoned general contractor usually has two or three go to people that they work with for each aspect of the home building project.
Time to Move the Building Process Forward with Confidence
Now that you know the basic steps to complete before starting the build on your new home, you should be able to enter the process confidently. Remember, building a new home is going to present its fair share of challenges. You’ll do yourself a tremendous favor if you figure out your budget and your planning early on in the process.
Making midway adjustments or changes to the project is when complications start. As the saying goes: “plan your work, work your plan.” If you and your team are all on the same page from the start, the home building process will go much smoother.
Additionally, there will be a lot about the process that you don’t know, so make sure you lean on your general contractor to walk you through those items. If you’ve thoroughly vetted them, they will be your best on-hand resource for the duration of the project.
