Building a house will cost you a fortune but living in your own house is everyone’s dream. People save for years to be able to afford to build a house. So when you have arranged all the finances, and you know that it is the right time to build a house, you need to consider certain things. After all, you won’t want to live in a new house with electricity issues, leaky taps, and many other problems. In this article you will read about 5 things that you should know before building a house:
- A building permit
You would require a permit to build a house in Sacramento. The permit is required to ensure a quality check of construction material and safety of Sacramento County. To be on the safer side while building a house and for your future, you should get a permit. This permit is necessary to get finances from leasing agencies.
In case you hire a licensed home-builder or a contractor, then you ask them to get the building permit in his name. If you have taken the responsibility of building your house on your shoulders, then you will have to do it on your own. You can start the construction work as soon as you get the permit.
When you are hiring a home builder for the construction of your new, you need to enquire about certain things. Ask them about their previous projects and their experience in this field in years. Know their charges. Ask if they provide customization services. Make sure that they have a license, they cover insurance of their workers and ensure that they are bonded. Why insurance is important- in case a worker is injured while constructing your house and if the company is not insured, you may get trapped in a lawsuit.
If you are not able to decide even after enquiring about the builders, then you can visit the previous houses they build, talk to their previous clients and then it will be easy to decide for you.
Enquire some home builders in your area. It will give you a clear picture of pricing and their services. Then you can come into a contract that fits in your budget.
- Moving construction material and equipment
You would be required to move the construction material from the store to your site. Research moving company in Sacramento for this task. Ask them all your queries, what vehicle will they use to transport the material, how much do they charge for their services. Also, make sure that they are always available for you when you need them. Tell them your location and ask them if they will move the materials to your place. Ask them about their experience in moving construction material and what if there is any damage caused to the material in transit. Enquire four to five reputed companies in your area and select the one that fits in your budget.
The most important thing that you need to consider while building a home in Sacramento is a desirable location. The location depends on your lifestyle preferences. You want to stay close to nature, or you want to stay in the heart of the city, in a locality nearby to the market, etc. You can decide on a place considering other things as well. For example, you will get essential items at your doorstep. Make sure that the area is not earth-quake or flood-prone.
You can visit the location personally, talk to the people staying there, enquire if they are facing any problems or the area is safe, after getting answers to all your queries, you can choose the best location according to your needs.
- A construction loan
Construction is a temporary loan for a year or less, that the owner of the house can get to meet the expenses required to build the house. After all, the paperwork is done and the owner qualifies the loan, he will start getting disbursement for the loan. However, the owner will not get disbursement all at one.
There will be plenty of things required to qualify for a loan. First of all, you will need a builder. The builder can be of your choice. You will select the builder according to your preference but make sure the lender approves of the builder, it will be easy for you to get the loan.
You will need a detailed plan for your dream home. If you have a detailed plan, then it will be much easier for you to get the exact amount of money required by you to build your house.
The next thing that you will require is an appraisal. An appraisal is just like an assumption that your house has already been built. The appraisal will ensure that yours and your builder expectations are the same as the market reality.
Lastly, a down payment is necessary for you to get a loan. Your mortgage adviser will assist you in this and he will also make sure that you meet all the requirements to get the construction loan.
Building your house is a dream for thousands of people and it’s amazing to get a chance to turn your dream into reality. Enjoy the process but make sure to watch every step. It is not wrong to say that you can relax after handing over this task to a builder, but you need to stay in close contact with the builder and visit the site at regular intervals. Also, make sure that you begin the construction when you and your family are not overburdened with other work so that you can complete all the formalities, and once your house is built, you will get occupied with the task of shifting your belongings to the new house. It will become very hectic and stressful for you if you are busy with your office work and you move at the same time. Also, make sure that you meet all the requirements and standards of housing set up by your locality so that you don’t land in trouble.