Everyone wants to own a house regardless of its size. According to an estimation, the homeownership rate in the US was 65.5% in the final quarter of 2021. Out of these people, a few build a customized house while the remaining buy a readymade residence.
Building a house from scratch is undoubtedly hectic, especially if you lack construction knowledge. You need a building construction schedule to determine the cost and duration of the project. Many contractors get help from construction management tools like Bridgit to automate such activities.
So, whether you plan on building your dream house or working on a new construction project, this post will share a few things to consider before getting started.
Factors to consider while building a house
Building a house might look boring, but it’s quite interesting, especially if you are the owner. Although you don’t have expertise in this field, you still care about the project because of sole home ownership.
So, let’s consider the important factors while building a house.
First, you must set your priorities before starting construction. These priorities refer to:
- House type – Decide whether you want to build a single or multi-story house.
- Interior – Gather the households and mutually plan what each house’s portion should be.
- Exterior – Think about the house’s exterior, typically a backyard or a courtyard.
It’s better to sit with your family and prioritize everything about the house. This priority list will then sync with the construction plan. Sometimes, the contractor might adjust the priority list because of the budget or other constraints.
Therefore, you must tell the household that nothing is finalized to avoid conflict.
Whether you are a construction expert or a contractor, it’s not a one-person job to build a house. Therefore, it’s time to assemble a construction team.
You should look for a team which has all-rounders. For example, it should have excavators, masons, electricians, and plumbers. You might also need a technical member to track the project’s progress via construction management software.
You can easily find such construction teams from companies, especially those who have spent years in this industry. Remember to check the portfolio of the construction team before offering them the project. You can also contact the previous clients of that team to ensure credibility and reliability.
You have a dream house in your mind with a marvelous design, but you don’t know how to make it practical. That’s when you need an interior designer to create a design for your house.
An interior costs anywhere from $50 to $500, depending on the experience. But are interior designers worth it? Yes.
The designing or modeling phase in construction is critical. When you design a project in or after the planning phase, it helps the stakeholders to visualize what the finished project will look like.
Similarly, an interior designer will first gather requirements from you via a questionnaire or an interview. Again, you must be clear in your mind about what you want and how you imagine your dream house. This session about requirements might go for a couple of hours.
After that, the designer will prepare the design following your requirements. That might take a day or two, depending on your suggested design.
Once the designer is done with designing the project, you can check that and confirm other details during construction.
Always remember the government regulations set by authorities where you live. For example, certain laws exist for building a house in a residential area or any other zone.
Unfortunately, even if you hire a contractor, they might not inform you about the regulatory details. As a result, the authority will penalize you and cease the construction until further notice. That’s a loss of time and money, and it can be discouraging, too.
Therefore, always check the following:
- Area – The place where you want to construct the house. Get approval from the authority to start the construction.
- Plot – Ensure you have all the documents related to the plot ready that shows the ownership.
- Dimensions – Confirm the standard house’s height and boundary from the housing authority in a particular area to avoid breaching the law.
Estimate the budget in the construction planning phase and compare it with your actual savings. According to a report, the median cost of new house construction is $449,000 in the second quarter of 2022.
While budgeting, ensure you include all the construction key activities, including:
- Labor – Daily wages of workers
- Equipment – Cost of construction equipment (buying or renting)
- Taxes – Annual property tax from homeowners
You must include the construction schedule while estimating the budget. That will help you make a better project plan. You can also get help from others who recently built their own house. They might give you helpful insight regarding budgeting for house construction.
The budget estimation phase is correlated with the project schedule, as the more time the construction takes, the more budget you will need.
If you are tight on budget, it’s better to delay such a hefty investment and focus on other priority tasks. That will save you from big troubles.
A very critical factor while building a house is its resale value. The median resale value of a house in the US is $428,700. Keeping that factor in mind, you must plan your house’s construction wisely.
The value of a house is determined by its location, interior, and exterior. Most people like the traditional housing style, including a countertop kitchen in the hallway, separate rooms, and a courtyard.
If you haven’t designed your house according to classical elements, its value might decrease or increase. That depends on the real estate market trend and, of course, the buyer’s buying behavior.
Therefore, consult with an expert interior designer who suggests the latest trends. That might be the best option for you.
You must know the ongoing real estate market and plan your house construction accordingly. Always compare the price of each construction activity from different companies and contractors. That will help you make a cost-efficient decision for building a house.