Many times you hear people say they want to build their dream house. Then they go right out into the market to research areas, prices of properties, homes, and end up finding a house that – although it is not my dream house - will work for now … “because you know, with the kids and how busy life is and work and all, I really don’t have the time to build right now.” Buying a new home with the help of a realtor is easier. End of dream.
Here is a typical scenario. People – usually a husband and wife -Â hit the real estate listings looking at properties, lots and houses. But there are many questions that the potential builder/buyer needs to know first:
1) What do you want? Have you outlined exactly what you are looking for? Or are you just hoping you “find†what you want? Could you sketch out your new home’s floor plans?
2) Can you do any of the work yourself? Can you hang drywall, paint or install plumbing? Could you serve as your own general contractor?
If you cannot answer the above questions, it appears as if you are the type who will probably be paying someone else to do it, which means the cost of building is going to go up significantly. You’re going to be paying for labor and a degree of markup on to build your home. Plus you will not have as much control over the building of your home. Relying on a general contractor means that you will be relying on all of the people he hires.
However, the real truth is that the more involved you can be while building a new home, the more cost-effective the home building becomes. And today there are thousands of house plans online. As just one example, this modern Florida-style house plan is luxurious inside and out. The design includes a dramatic front covered entrance a three-car garage and a well-defined use of space.  Indoors there is a central living and family room with a wet bar, and gourmet island kitchen.
Another consideration – do you need to connect to city services? For many building situations, it’s far cheaper to have a well to provide your water and a septic tank for your sewer. This costs way less than having to than it is to dig a trench and lay pipe to connect to water and sewer services.
Can you live with a septic tank? Or do you need to get city services? The more flexible you are, then the more money you will save when building a home yourself. The bottom line is that IF there is enough savings on the table then it is worth thinking seriously about building a new home yourself.
If you answered yes to any of the above questions, then you may want to consider it. For more information visit www.theplancollection.com
