Homebuilding Tips

There’s no denying that the average American wants plenty of space. And it shows: Today’s homes are 61 percent bigger than homes that were built just 40 years ago. In 2016, the median size of a new single-family home in the U.S. was 2,467 square feet—the largest on record.

The average American will purchase at least three homes in their lifetime—often a starter home, a family home and, finally, an empty-nester or retirement home. In some markets, homeowners who are climbing the property ladder may own five or more homes as the decades go by. For many, this evolution of home ownership creates the perfect chance to work toward the home of their dreams.

Building a custom home is a smart decision for many reasons. Not only do you get the benefits of living in a home that was tailored to your lifestyle and preferences, but you also have a long-term asset that increases in value over time as you gain more equity. The more equity you can start with, the sooner your investment will be able to provide more financial options. You can increase your starting equity by making a larger down payment or paying more toward your principal, but if you want to hang on to your cash, building sweat equity is another path.

Every year, more than a half-million single-family homes are sold in the United States, and you can bet that every sale comes with its own set of “lessons learned” for the customer. Think back to when you were buying your current home: It’s likely that you learned a lot throughout the process—even if it wasn’t your first home purchase—and you might even do things differently the next time around.

One of the more unpredictable elements of building a custom home is the site-development process. You can design a home to fit a specific budget, and you know the price of the land, but what will it take to prepare the land for construction? The answer is, it depends on the site. Where your land is located, the conditions of the soil, and where the house will be situated on the land are just a few considerations.

One of the key concerns that we hear from people who are considering building a custom home revolves around the budget and timeline. When you’re building a home from scratch for the first time, how can you keep on budget and on time? Some customers fear that the process is so complex they’re sure to spend more than they want and take much longer than they intended.

Most people go through a range of emotions when building a new house. It’s exciting, scary, intimidating, and exhilarating all at the same time. Knowing what to expect can help you stay calm through the stressful times and keep your expectations closer to reality. There are countless details that go into custom home construction, but the process can be broken down into a handful of typical stages of building a house.

For many homeowners, the prospect of upgrading to a custom home built on their ideal piece of land seems like a dream. But in fact, nearly a quarter of all homes built in the U.S. each year are custom—proof that with the right homebuilder, a custom-built home is well within reach.

The homebuilding process can vary significantly depending on a number of factors, some of which you can control and some that you cannot. In general, you should assume that it will take at least nine months to a year from the time you select a custom home plan until the day you move in.

Buying your first home is an experience unlike any other. And although it’s thrilling, it can also include a bit of a learning curve. But rest assured, you’ll wind up in the home you’ve always wanted.