Homebuilding Tips

The cost of building a new house includes broad categories such as land, site development, and the materials and labor required to build the home itself. You can get to an overall budget based on the location, the conditions of the site, and the custom home plan you choose, but there are often other expenses that you might not expect, especially if this is your first time building a new house.

As the old saying goes, nothing in the world is certain but death and taxes. Homeowners already know this to be true; in most parts of the country, property tax runs at least a few thousand a year. But what level of taxes should you anticipate as you plan to build a new house?

Multigenerational homes offer many benefits to the entire family. Children can spend more time with grandparents, young adults can save money when starting their careers, and adult children can help aging parents transition into the next phase of life. However, even close-knit families will face challenges in multigenerational homes. 

Having parents move in or welcoming adult children back into your home can require some adjustment. Your daily schedules and living preferences might not always align, and unexpected privacy issues might occur if you didn’t plan for them in advance. Fortunately, with a short adjustment period and some forethought, you can make the transition to multigenerational home life go more smoothly.

As we explored in our last blog, a growing number of families are embracing multigenerational living. While fitting multiple generations under the same roof might sound like a stressful scenario to some, with the right preparation, it can actually be a positive, fun experience that offers benefits to every family member.

Whether you have aging parents or young adult children who have moved back home, it’s not uncommon for multiple generations to live in the same household these days. While this living situation offers many benefits, it can be a difficult adjustment, especially during the initial transition period. Knowing what to expect can help reduce any potential stress and allow you to prepare in advance as much as possible.

Since the most recent economic downturn began in 2008, the number of Americans living in multigenerational homes has risen steadily. Today, 60.6 million U.S. residents live with multiple generations under one roof, according to Pew Research Center. That’s nearly 20 percent of the nation’s entire population.

When building a new custom home, you have the option to invest in the features that make the most sense for your family’s lifestyle. If you enjoy cooking and gathering in the kitchen, this is a smart place to focus your budget. On the other hand, if you enjoy outdoor living, a deck or patio can provide the atmosphere you desire. You have countless options for custom homebuilding upgrades, but if you’re like most people, you have a limited budget. If you’re trying to decide which features are right for you, consider the following possibilities as you refine the design.

The excitement of building a new home is unforgettable. Finding that perfect plot of land, selecting your floor plan and customizations, and adding the finishes that will make it your own—it truly is a one-of-a-kind experience.

You know you’re ready to upgrade to a new home; now you just have to decide whether to buy an existing house or build a new one. Although it might seem easier and faster to purchase an existing house, it’s worth considering building a custom home if you want to invest in a home that truly matches your needs. If time is of the essence, compare these two timelines to help you make a decision.