{"id":930,"date":"2019-12-16T14:44:17","date_gmt":"2019-12-16T22:44:17","guid":{"rendered":"https:\/\/www.monsterhouseplans.com\/blog\/?p=930"},"modified":"2019-12-16T14:44:17","modified_gmt":"2019-12-16T22:44:17","slug":"what-to-know-when-building-a-house-9-common-questions-answered","status":"publish","type":"post","link":"https:\/\/www.monsterhouseplans.com\/blog\/what-to-know-when-building-a-house-9-common-questions-answered\/","title":{"rendered":"What to Know When Building a House: 9 Common Questions Answered"},"content":{"rendered":"

The face of suburban living is changing. The days of residential developments from new home builders are slowly, but steadily, replaced by custom home builds. <\/p>\n

Part of the reason for this shift is a change in the buyer profile \u2013 millennials are now at prime buying age, and they\u2019re quickly becoming the face of new homeowners across the country. <\/p>\n

The other aspect of the shift is their changing priorities: More individuals than ever before are prioritizing convenience and quality over size and status. New home buyers are looking for sturdy and high-quality upgrades that will last for decades. <\/p>\n

These priorities are not limited to a millennial\u2019s ideal home preferences. If any of these show up on your personal preferences for a home, then a custom home could be an affordable and highly creative pathway to home ownership. However, like any worthy undertaking, there is a process behind the project. <\/p>\n

Here are 9 questions you need to have answered when building a house<\/strong>:<\/p>\n

    \n
  1. Can You Afford The Construction and the Contingencies?<\/li>\n
  2. What Type Of Custom Home Will Have the Best Resale Value?<\/li>\n
  3. What Are Your Must-Haves and Nice-To-Haves?<\/li>\n
  4. Do You Need An Architect And A Contractor\/Builder?<\/li>\n
  5. Do You Need a Kitchen?<\/li>\n
  6. What Do You Know About Your Chosen Lot?<\/li>\n
  7. Is Your Current Lifestyle Stable?<\/li>\n
  8. What Is and Isn\u2019t Included In the Costs?<\/li>\n
  9. Is There a Process For Communicating Through the Building Phase?<\/li>\n<\/ol>\n

    Money Questions<\/strong>
    \nBuilding a custom home is a significant investment of both time and money. The National Association of Home Builders<\/a> says that the average completion time of a custom build is around seven months, but if your home is larger it may take closer to two years. You have to count the months ahead of the process when the actual decision-making and applications for permits occur. <\/p>\n

    It\u2019s hard to price out a custom home build because all the major decisions are in your hand. The quality of builder you will use, the number of crewmen and project managers, the designers, the materials for exterior construction, and upgrades for the interiors are all examples of factors that could change the final price tag. A custom build may work out to between $100 to $400 per square foot.<\/p>\n

    Every decision you make on a custom build affects this bottom line. There are so many small and large choices you\u2019ll need to make, so don\u2019t overwhelm yourself at this stage. Ask yourself two basic, foundational questions. <\/p>\n

    1) Can You Afford The Construction and the Contingencies?<\/h2>\n

    The construction of your home includes several considerations including the cost of labor, the cost of materials, your contractor\u2019s fees, installation, the crew, your floorplan, municipal zoning, and building permits. <\/p>\n

    Keep in mind the contingencies. These are special and often unexpected circumstances that may crop up and delay your build schedule. Sometimes, if a build gets delayed, this could increase the overall costs. Be prepared to respond to these situations as they come up.<\/p>\n

    Many homeowners will look at the price tag of all the materials and resources that a custom home will cost and consider this part of the \u201cmoney question.\u201d However, the total cost for all construction, materials, and labor, call for something even more important: a steady cash flow. <\/p>\n

    If you don\u2019t pay your contractor and their team, your work could stall and only pick up again once you\u2019re back in the green. Worse yet, your contractor team may not be available when you\u2019re ready to resume. Cashflow is the most important thing to consider when you first plan out your custom home build. If you can sustain the project through allocated finances week to week, your home will finish on schedule and at cost. <\/p>\n

    2) What Type Of Custom Home Will Have the Best Resale Value?<\/h2>\n

    While some homeowners are looking to design their \u201cforever\u201d home, others will choose a custom home that has a good resale value. Resale value depends on a variety of factors, including:<\/p>\n