Becoming a homeowner is a dream come true for many. It is a financial commitment that requires meticulous planning to ensure that dream comes to fruition.
In this article, we will provide you with a checklist that will help with the process.
The first thing to consider is the location of the house. You need to decide which city and which part of the city you want to buy a house in. This will determine the budget, the travel time to your office, your neighbourhood, the amenities available to you and even the size of the house.
There are two different aspects to the money. The first is how you plan on getting the required sum to build the house. Will you take a home loan? If so, then for what amount and from which bank? How much can you contribute towards the down payment?
The second aspect is how you split the money. How much can you allocate for purchasing the land? How much for building the house and how much for furnishing it? You also need to establish how much you can spend on the contractor or the builder.
Both of these aspects of the financial planning must be finalised before you proceed.
You will need a contractor to build the house for you. Building a house is a huge financial investment, and the upshot depends on the contractor. A good contractor can build you a house which you can fall in love with while staying within your budget. Shortlist a few contractors, compare their prices and check their previous records to ensure that you get what you are looking for.
4. House Plan
This is where you get into the details of building the house. How many rooms would you need? How much area do you want to allocate to common outdoor spaces, terraces etc.? Are there other things to take into consideration? How should the rooms be arranged? You can hire an architect to help make this process easier, but this will have an impact on the budget, and you should leave funds aside to accommodate the architect’s fees.
5. Time Frame
It is a good idea to discuss and determine the time frame within which the work will commence. This makes it easier to track the progress. It also ensures that you have a general idea of when the house will be ready. If you are living in a rented house when your house is being built, you can ascertain when you will have to shift out. But, keep in mind that building a house is a complex process, and there are certain factors like weather that can affect the construction time. The time frame will just act as a guideline.
6. Building Permission
Based on the location, you may need to get permission to get your house plan approved. Once you decide on the location, look into these conditions, ensure that you can build your dream home while also meeting these conditions.
7. Interior Design
The interior design of the house is as important as its plan. It helps you make the most of out of the space and really completes the house. You can start making plans for the interior once the construction is almost half done. This way you will have enough time to find everything you need.
Build Your Dream Home
Building a home can be stressful and requires a lot of patience on your part. But a little bit of careful planning can make the whole process easier for you. You can follow the checklist to ensure that you have taken care of everything important while building your home.