The Benefits of Building Your Own Home
We often hear stories about the headaches and problems of building your own home. Despite some of the potential difficulties that may arise, a host of very attractive benefits are simultaneously possible.
There is a lot to think about (and pay for) when you are a home owner. Not only are you obliged to make mortgage repayments, pay bills and ensure that your home is in good repair, you also need to think about important matters such as: home insurance and contents insurance. These expenses ultimately apply whether you build your own home or buy an existing home.
But, what are the advantages of building your own home?
You make the choices: The greatest benefit of building your home, rather than buying an existing one, is that you can create a home that you really want, as long as you have the budget to finance the choices you make.
Environmental responsibility: It is easier and more practical to build a home that is ‘green’ in the sense that it is sustainable and as environmentally sound as possible. Building a green home allows you to enjoy savings on energy and running costs while doing something positive for the planet.
Kit homes make new home ownership a possibility: The choice of a kit home is growing in popularity and is a good option when wanting to build your own home. Often, kit homes are a more affordable option and are still built from quality, robust materials. Kit homes can also be built to best comply with the weather conditions and other features of the area in which you will live.
In addition, kit homes are available in contemporary designs that are modern, sophisticated and attractive. This makes kit homes an even more appealing option for many would-be homeowners.
Project homes open up options: Another option is to buy a project home and this is a comparatively easy and economical way to purchase and ‘build’ a new home. The great thing about project homes is that you can visit a display village to inspect the finished product before you commit to a purchase.
Further to this, many project homes are now built according to green principles. While a number of these houses are sold as house and land packages, larger project builders also make it possible to build on your own land.
The support of a specialist: However, you may have very definite ideas about your dream home. You may want your home built from scratch and for it to be completely unique and tailored to your needs and wants. Although working with an architect or draftsman can be quite expensive, the funds you outlay can represent money well spent and prove to be the most satisfying way to build a house. By way of a guide, working with an architect on the design and construction of a new home can cost around 10 to 15 per cent of the total home cost.
Bearing in mind that bespoke homes typically take longer to build, the added expense and time taken for the build is often counteracted by the experience of a good architect maximising the value of the land and ensuring that all building work is performed to an excellent standard.
If you choose to build your own home, it is fundamentally important that you work with a great builder and ensure that an accurate and detailed contract is in place. Such a contract should include all matters pertaining to the owner and builder, such as: price, the time expected for completion, the approach to unforeseen conditions and permissible causes of delayed progress.
With contract matters sorted out, many benefits of building your own home are available to you!