Building a home is one of the most rewarding yet challenging experiences you can go through. As someone who's gone through the process and come out the other side, I’ve learned valuable lessons that go beyond the typical advice to budget more and expect delays. Whether you’re building your dream home or an investment property, these insights can help you navigate the process and avoid common pitfalls.
1. Choose the Right Contractor—and Don’t Forget the Support Team
Finding a contractor who can deliver on their promises is essential, but it’s equally important to make sure they have a solid team behind them. During our build, we worked with a contractor who did an excellent job with the physical construction. However, toward the end of the project, communication started to falter, and that’s when having a dedicated support team became crucial.
Why does this matter? Building a home is full of moving parts. Changes to the original agreement, unexpected price hikes (like the skyrocketing cost of wood during the COVID pandemic), and surprise expenses are almost inevitable. As these issues arise, it’s vital to have someone on top of the bookkeeping and amendments. Our contractor was great at getting the job done, but having a business-minded individual managing the backend would have saved us headaches. Keeping track of every detail over a project that lasts months (or even years) can be a challenge, so a well-organized support team is invaluable.
Pro Tip: Make sure your contractor has a system for documenting changes and expenses. You’ll want clear communication and transparency throughout the process to avoid any last-minute surprises.
2. Outsource Where You Lack Expertise
Let’s face it, no one is a master of everything, especially when it comes to building a home. This is where outsourcing becomes your best friend. It’s tempting to save money by doing things yourself, but when it comes to areas like design, layout, or specialized construction tasks, hiring a professional can make all the difference.
For us, hiring a designer was one of the best decisions we made. While I had a vision, the designer brought it to life and enhanced it with tips and tricks I would never have thought of. From optimizing the layout to suggesting features that increased functionality, the value they added was undeniable. It’s easy to overlook details, but these can significantly impact the home’s usability and resale value.
Pro Tip: Invest in professionals where it counts. Whether it’s a designer, landscaper, or specialized contractor, the money you spend upfront will often come back tenfold in the form of long-term value.
3. Stay Flexible—and Sometimes, Get Out of the Way!
Building a home is rarely a smooth, linear process. Unexpected delays, material shortages, and even health-related interruptions (like pandemic-related isolation) can push back timelines. We certainly experienced this, and it taught us the importance of staying flexible.
During our build, we rented a place nearby to maintain our normal routine, which worked well for most of the process. However, when the pandemic hit, and delays became inevitable, we decided to leave town for a few months. Relocating to Florida not only gave us a much-needed break but also allowed the contractors to work uninterrupted. By the time we returned, the house was 98% complete. Being flexible allowed us to adjust our expectations and keep our sanity intact.
Pro Tip: If possible, arrange temporary living accommodations near the construction site, but don’t be afraid to leave if delays mount. Sometimes, giving the builders space to work can speed up the process.
Bonus Tip: Track Expenses & Look for Incentives
Budget management doesn’t stop once the build begins. Tracking every expense is key to staying within budget and avoiding unwelcome surprises. Additionally, take the time to explore government incentives and grants that may be available. For instance, municipalities often offer programs for energy-efficient builds or renovations, which can significantly reduce costs.
Lastly, always make sure you close out any permits once the construction is finished. Open permits can cause delays and issues if you ever decide to sell the property. If there are any open items, they must be addressed before listing the home for sale, as they can affect your ability to close on time.
Final Thoughts: Building a Home Can Be Worth It
Building our home was a challenging yet fulfilling journey. Not only did we get the home we envisioned, but we also maximized our profits when we eventually sold. If you’re planning to build or considering it, take these lessons to heart. With the right approach, you can enjoy the process and come out ahead.
If you have any questions about financing a build or want to discuss your options, feel free to reach out. And if you want to read more about our home-building journey in detail, check out our complete blog here
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