Are you getting ready to build a new home? In order to avoid heartache and loss of money, beware of these top 10 common mistakes when building a new home so you can take steps to avoid them.
#1: Failing to Hire a Contractor When Needed
Even if you feel as if you are quite the handyperson, there will be times when hiring a contractor is the right choice. If you aren’t sure what you are doing – particularly when it comes to plumbing and electrical work – hire a professional to help.
#2: Failing to Check Contractor References
Before hiring a contractor, be certain to check his or her references. The last thing you want is to hire a contractor that doesn’t finish the job.
#3: Making Decisions Based on Price Alone
Whether hiring a contractor or picking out supplies for your new home, you shouldn’t let price be the only factor you consider. Try to strike the perfect balance between price and quality.
#4: Picking a Poor Location
The number one rule in real estate is location, location, location. Before you start building, take time to pick out a great location for your home.
#5: Poor Financial Planning
Before getting a loan for your home, make certain to get the proper financing in place and don’t overextend your budget.
#6: Paying Contractors Too Much Too Soon
When paying contractors, you should release the money in increments. Your lending institution will likely supervise this process closely.
#7: Failing to Consider Your Current Lifestyle
When planning the layout of your new home, you need to consider your current lifestyle in order to make certain the layout of the home will meet your needs.
#8: Failing to Consider Your Future Plans
In addition to considering your current lifestyle, you also need to consider your future plans. If you plan on expanding your family, for example, you want to make certain to plan your home accordingly.
#9: Rushing Through the Process
As you become more and more anxious about completing your home, you may feel the urge to rush through the process. Take your time and make sure everything is done correctly.
#10: Getting Too Stressed Out
Building a new home should be one of the most exciting times in your life. While you certainly need to supervise the process and make sure things are done properly, try not too let it consume your life or get you too stressed out.
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