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To build or not to build: exploring your options

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The temptation to build your dream home grows more and more when we are exposed to the several success stories of people that have done a magnificent job to build their dream homes. And while there are a successful percentage of people who do it, there are the remaining people that have not been as successful due to failures in planning and budgeting. You should explore building your own home as an option, but at the same time you should make a smart and calculated decision that takes into account the long term benefits and impact that the building process will have on you, your finances, your relationships and your building project’s success. Below are a few options that you can explore.

Building the house yourself - The DIY approach

You can arrange to get your house built without going through a contracted builder. If the building is completed successfully, there can be a great deal of savings made. However, if there are any unforeseen repair costs or budgets that have been unaccounted for, the home could continue to add to your expense bill. Builders will manage the planning and coordination of the home building project. You can achieve the same results as the builders by following the steps they take when they engage in a building project.

To successfully build your dream house yourself, you will need to:

·       Obtain the necessary permits for the build.

·       Plan the architectural layout of the home.

·       Plan all of the necessary budgets.

·       Source all of the materials to successfully manage the build.

·       Have a strong eye for planning and organizing.

·       Ensure that all general contractors are licensed.

Building your home through a house and land package.

One of the most popular and convenient options is to build your home through a house and land package. Many property developers offer packaged solutions that are cheaper than the do-it-yourself options as they have the ability to purchase their items in bulk. They will usually have the display home on offer for you to explore. If you are happy with the display home, you can purchase the project home with the land lot and they will commence with the building of your new home. If you are keen to find out more, enquire about house and land packages in Melbourne.

Finding the land and then designing your own.

If you already have the block of land that you plan to build on, then you will be choosing the type of house that you want and the builder. There are two options available:

Custom built.

A custom built home is an ideal, but more expensive option. With a custom built home, you will be able to incorporate more of your own ideas into the build of your home, compared with the restricted flexibility in customisations offered by project homes. Your architect and builder can work to incorporate the ideas that you have into your dream home. As the house is a one-off design, the building and architect fees tend to be higher. The final cost of the home may even depend on the size of the home and the selection of the furnishings and finishings.

Project homes.

Going with a project home can still offer you the dream home that you want with some added cost savings. One of the benefits with project builders is that they have a variety of designs and plans that they can build on different sites. Many builders have display homes available to visit so you can get an idea of what you like, prior to committing to the purchase of the home. Because these developers and builders sell a lot of these home designs, they are able to negotiate bulk discounts. These savings are then passed onto their customers.

Seeing the finished result of your dream home should make you overjoyed. You will finally get to move into the home that you always wanted. The method to achieving that home is up to you. Choose a method that you feel most confident in and stick with your budget. Join the thousands of others that have their dream homes and become a success story today.