Custom Homeowners Share With You What To Expect When Building Your Home

May 14, 2019

© Denise Kappa Dreamstime

Probably the only thing better than owning a house is owning a house that is custom made for you!  While it is true that building your own home can come with a lot of perks, there are some unique challenges and anticipating them can help you navigate through the stressful building process. So some customer homeowners share some of their biggest challenges and how you can learn from their experience. First, prepare yourself for decision fatigue. Your custom home means the decisions are up to you and there are a lot of them.  From the type of flooring to the door knobs, light fixtures and even the color of the grout in between the bathroom tile!  It is exhausting, which is why many large national builders try and streamline the process. They commonly present you with high, medium, and low-price point customizations as “A, B, and C” choices. After all, it’s much easier to choose between three than from 300—especially if one is out of your budget. Be very skeptical of the timeline. Delays in closing are already common in real estate but new builds can pose more problems. Supply problems, sub-contractor scheduling conflicts and even weather can all impact the date your home will be move-in ready. Of course, not knowing your exact move-in date can cause all types of expensive hurdles, too. This includes paying month-to-month rent, which usually comes at a premium. Look out for shortcuts. Bare bones electrical work, poorly laid floors and even skipping out insulation in your garage can all lead to problems down the road when it costs you additional money to fix the problem. Speaking about money, you'll probably spend more than you expect. Most of the materials that come standard—like flooring, carpeting, appliances, lighting, and plumbing fixtures, or even things like trim on windows and interior doors—are called “builder grade” for a reason. These are basic, lower-quality products that you may not want throughout your house. Do some price comparisons on your own. Finally be aware about your financing. With ever-expanding budgets, new builds pose their own financing challenges. While it varies on the buyer and the area, construction loans usually require a higher down payment (expect 20 to 25 percent). They also often carry a higher interest rate, too. Manly because the lender feel a custom house is a bigger risk than a home already built because your custom home is an incomplete build can have little or no value on the market beyond the value of the land itself.

RELATED: May Is The Best Month To Sell A House

RELATED: Where Bugs Tend To Hang Out The Most In Your House

RELATED: Don't Touch These When Visiting Somebody Else's House

SOURCE: Apartment Therapy

See and hear more from the 98.5 KTK Morning Show

98.5 KTK Morning Show Podcast