The process involved in building a custom home is usually misunderstood. Most custom home buyers think that the process starts by finding and buying a lot, hiring an architect, and then picking the builder with the lowest bid. However, a more efficient and effective solution is for a custom home buyer to choose a builder to help identify the perfect lot to build your dream house. This process is smoother, faster, and could even be less expensive.
When you’re ready to purchase your very own home, there’s always the home buying vs building conundrum. There are pros and cons to both options. Of course, the decision is all yours, and you’ll be basing it on your unique lifestyle. But let’s look at a few of the reasons you might want to build a new house.
Are you thinking about entering the housing market? Right now, the market is in a strange place: Low mortgage rates are driving people to enter a market with a decreasing supply of available homes. For prospective home buyers, this can be daunting. On the other hand, home builders are surging. People are turning to the building, the ideal home that better suits their family’s changing needs.
Finding the right home constructions company Melbourne is an important decision. Check out our range of the best home design constructions at Hitch Property Constructions. Here are a few reasons why now is the time to ditch used-homes and instead build your new home.
What’s the most obvious reason to build a custom home?
Well, you get everything you want, the way you want it. For some, the debate stops there, but perhaps you need more than that.
If you’re in the market for a new home but are struggling with whether to build a custom or to personalize a production home (or ‘Semi-Custom’), we’ve assembled a list of ten reasons you might want to consider building a truly custom home.
Good Reasons To Build Your Own Home
You get more for your money.
Buying a home off the shelf, or through a broker, comes with a high price tag. The average self-build costs around 25% less than a home that already exists. So, those extra two bedrooms may not be as out of reach as you think. You can also save a considerable amount if you are clever with your planning, buying, and building.
It’s good for the soul.
If money isn’t an issue, why else would you build a home yourself? It takes time, of course, and it can be highly inconvenient. But, there is a major plus that all self-builders enjoy. The feeling of building a home yourself is second to none. Not only are you providing for your family, but you are also an architect of the living space you all enjoy. If you want to achieve something special, why not give it a try?
You will learn a lot about the building process.
Buy an existing home, and you can live in it for years without ever understanding quite how it works. Sure, you might know some rudimentary plumbing, or how the electric circuits work. But do you know what makes it tick, or how it was constructed? If you ever wanted to know more about the building process, build your own – it’s as simple as that. You will have a newfound respect for the construction trade, and you will also know exactly how all the inner workings of your home connect.
You’re adding something to your community.
Building a home has an impact on your local community. It’s not always a good thing, of course – but we would like to think your good taste will prevail here. You will be creating something that your family will enjoy – and many more families more after it. If you have ever wanted to make more of a mark in your life, building a home in a great location does just that.
There’s plenty of inspiration.
Stuck for ideas and don’t feel you can design and plan a home? The good news is there is a lot of help and inspiration on hand. Get in touch with a local architect who will happily give you a hand with your plans. Companies such as Serenity Homes also exist. Take a look online and see what you can find. You might find some fantastic inspiration and beginning-to-end help with the build. You can even take a look at our online magazine, where you will find some spectacular self-builds. Make a note of what you like, and see what you can come up with!
You can meet your exact needs.
Of course, one of the major benefits of designing a home yourself is that you can create precisely what you need. We all know that when we move into an existing home, there are little parts of it that we don’t like. A little niche here, an awkward corner where – there’s no denying it can be a real pain. Well, design a home yourself, and there will be no problems. An architect will help you create the house of your dreams – as close to perfection as you allow it.
Fed up with your home crumbling around your ears? Then build one yourself – and use the best materials you can. Many people suffer from shoddy building work and quick fixes, and you have no control over it when you buy a house. It’s a different story when you self-build. You can ensure that your builders use the best materials, and keep close tabs on their progress and workmanship. At HP Constructions, we have the best home constructions selection to make your house a dream come true.
You can boost your local economy.
Building a property takes a lot of time, dedication, and hard work. And you will need a lot of help to complete your project. Local builders and tradespeople will spend a lot of time working on your home, and it will keep people in jobs, working, and earning money. Of course, you would rather not pay a thing – but there is an element of social responsibility at play here, too.
No more mortgage
Want to be mortgage-free for the rest of your life? Then invest your money in building a new home, rather than getting one off the shelf. Of course, it’s going to cost you a considerable amount of money. But, in many cases, it’s the only way of funding your dream. Banks and lenders tend to be hesitant about offering mortgages and home loans for brand new properties. Especially if you have no experience, see this as a good thing, though. What is a better way there to invest your savings than building something of value that should see a fantastic return in the future?
Given the enormous costs of home loan repayments, it’s no surprise that many of us are working well into retirement. But, what if you could take away those costs? Without expensive monthly payments in place, it will give you a lot more flexibility to ease up with work. OK, so you might not be able to hit the retirement button just yet, but you can certainly enjoy a better work-life balance.
Customize your home.
It’s not always easy to find exactly what you want in an existing house. If you choose to build, you’ll have total control over the design of your home. You get to customize the floorplan in a way that makes sense to you and your family. And you can add those little extras that make you happy — say hello to your very own gourmet kitchen!
Avoid the bidding war.
When the market is hot, homes can sell quickly, making the home-buying competition fierce. Depending on your area, finding a home that has the features you want can be very difficult and frustrating. And then, when you do find it, you might end up on the losing side of a bidding war. But when you build, you never have to worry about outbidding other buyers or the stress that comes from home shopping. You’ve already solved this problem and get to focus on the details.
Really move-in ready.
Even the most move-in ready house may still have a couple of things you want to change, even if it’s just the colour of the walls. But when you build a home, it’s exactly how you want it, from the flooring to the cupboard hardware. This means you can sit back and start enjoying your home from day one. You’re ready to have that big housewarming party!
Smart homes are becoming more and more common as people get used to the convenience and added safety it can provide. Even if the home you build isn’t packed with tech from the get-go, it is often tech-ready. This means everything from security measures to electric gadgets — your new home could be a smart home in no time! In addition to all the benefits you get from having a smart home, you may also earn a discount on your homeowner’s insurance, just for being a trendsetting techie.
When you care about being energy efficient, you can make a big difference by shaping the way your home is built. You get to focus on bringing top of the line technology and energy savings into your home. And you get to do so in a customized way that focuses on what means the most to you. Whether you love solar panels or want to focus on conserving water, with a custom-built home, you get those options.
On top of the trends.
New homes come with modern trends and cutting edge style. Forget about renovating that outdated bathroom, when you build your own home, and you get to pick the style you want, down to the smallest details. Your home is magazine-glamorous from day one.
Current on codes.
Building codes do change over time, always with an eye on protecting the residents, the neighbourhood or the environment. Quite often, the changes incorporate new and safer technology. With a new home you know you’re up to code and nothing has been grandfathered in. Best of all, no expensive updates are required!.
Here are the reasons why a custom home builder should build your dream home:
A Custom Home Builder Can Help You Identify the Perfect Lot
A custom home builder has a ready team of real estate agents, architects, engineers, and employees in place to help find the perfect lot for you. Generally speaking, homebuyers don’t have the necessary knowledge, skills, and resources to evaluate the lot’s potential. As a result, a home buyer, then, will decide to assemble his team of agents, architects, engineers, and employees. This further delays the building of a home.
Another thing that makes the process slow is the purchase contract “study period” a buyer would need to assemble a team. Take note that property sellers don’t want the risks involved in a lengthy study period. If a property seller decides to back out, it’s always a disadvantage for the buyer. Check out our extensive range of home designs at Hitch Constructions.
Here’s how a custom home builder can help a home buyer find the best lot:
- Custom home builders invest a lot of money and effort trying to identify the best lots to build a custom home.
- Once a potential lot is found, a clean cash-written offer is prepared with limited closing terms and contingencies that are customized to the needs of the seller of the lot.
- Custom home builders make it simple and easy for the seller to agree to the offer.
- A custom home builder starts to identify the cost of the lot with the “outside” price or the ultimate price anticipated to sell a new home for a particular lot. The builder deducts the direct costs of construction (hard costs) and the permitting fees, real estate commissions, engineering fees, and architectural fees (soft costs) from the outside price, and pays whatever amount is left.
A Custom Home Builder Can Help You Stay Within Your Budget
As compared to handling your team, like hiring your architect, engineer, and builder, it’s best to work with a custom home builder who can help you stay within your budget. Before any contract or construction is made, the builder will give you a rough estimate of the amount you need to set for your custom home project.
With years of experience in the industry, custom home builders are the best source of information for the current prices of construction materials, labour, and other aspects of custom home building. You can take advantage of the builder’s vast connections and partnerships, from major manufacturers and suppliers of lumber, paints, and roofing materials, to the bathroom and kitchen fixtures at the lowest price possible.
A Custom Home Builder Can Help You Establish Your Vision
Buyers usually have a lack of vision to see the potential of a lot or location. Most homebuyers search for a flat lot. However, flat lots aren’t always the best, and some lots with topography issues might be the best.
You can take advantage of the expertise of a custom builder in finding the best lot because of years spent in one-on-one meetings, letter campaigns, and door-knocking with potential lot sellers.
Here are some examples of ways a custom home builder can help you envision your dream home:
- A custom home builder can help you identify hidden lot problems, in terms of topography, storm easements, lack of sewer hookups, problems with public water, soil quality, and title issues.
- A custom home builder can help you find a lot with a gentle slope to the front and the back of the lot line, as well as from the sides for better soil drainage. Also, this lot characteristics allow the entrance of your house to be slightly above the street level.
- A custom home builder does wonders with retaining walls, helping home buyers see a lot’s potential in the long run.
Build Your Dream Home Faster
As compared to managing your team, hiring a custom home builder makes the planning and construction of your dream home faster. With years of experience, a custom home builder can prepare a plan with a timetable set to finish the project. It means more time, money, and effort saved on your part.
Working With A Custom Home Builder Can Lessen Your Stress
Building a new construction custom home while working on a day job or managing a business can be stressful. You might think you can manage all the activities and pressure at first, but many end up getting burnt out and end up spending more. A custom home builder will take care of the tiniest detail of your dream home project. You have to tell the builder what you want, and both parties set realistic expectations for a successful outcome.
Custom home builders can help home buyers find the perfect lot, create a better vision, and finish the project faster and with less stress. Instead of building your team, it’s better to work with a trusted, reputable, and experienced custom home builder to help you set realistic expectations, attain the closest look for your dream home.
There are a lot of reasons to choose to build rather than buy a used-house right now. If you’re looking to make the switch to a new home, take the time to figure out what your family needs. Building your house allows you to create spaces that are perfectly suited to your needs, whether it’s a floorplan made for entertaining, a walk-out basement, or a quiet home office. Whatever you need, your newly built home can provide. Historically low interest rates may help your dream of building a new home be more attainable.
So, there you have it – ten excellent reasons to build a home yourself. It’s an enjoyable experience that many people never get the opportunity to try themselves. But, it is a possibility – and one that you shouldn’t discount. Let us know your thoughts about self-build homes in the comments section.