Planning to build a home? Think through these points

Getting a new home constructed is quite a tedious job yet a rewarding asset at the end. Today, owning a home is one of the most important priorities among many Indians. The concept of designing and building on a new property lets a person to have his desirable home. However, getting a new home constructed can be a stressful as well as an expensive task. This is also time consuming and involves innumerable legal formalities to be completed. In order to have a suitable home one needs to do a careful planning. Here are some things to consider;

Purchasing a plot:

This is the first step which every home owner should take in order to get his/her desired home. Get a plot of land which has the permission to construct in your desired locality. Before you decide to buy the plot, ensure that the area has all the facilities like water, gas, electricity, sewerage and others. Also the locality you choose should have adequate access to many other places for the construction work to go on smoothly. Also it is important that you look at other surrounding properties for any comparison.

The price tag of buying a plot:

The price of a plot depends upon its size, location and planning rights. You can compare the plot prices online or check with a real estate agents or concerned people.

Permission to construct a new home:

It is very important that a person should seek permission from the concerned authorities before planning to build a new home.

Cover all the building regulations:

Every home which is constructed initially should be built in compliance with the current building regulations which cover all areas of construction from structural and fire safety to insulation, electrics, drainage, glazing and energy efficiency.

Post selection plans:

Make a written brief before beginning the construction: It is very important to plan about the construction and the structure of the home. Decide on the number of rooms and the amount of space to be used. Also plan about the outdoor landscape and ensure that you draw a picture of each space on how you want it to be.

Decide your budget:

This is one of the most important aspects and one needs to be realistic and should seek professional help if needed. Check on the amount your project will cost you and approach a quantity surveyor if it is an expensive project. Set about 15 per cent of the budget for emergencies.

Compare multiple quotes:

Ensure that you get quotes from different companies on the same specifications in order to get a clear idea about prices before hiring for any service. Also check for the references, insurance and credentials of every person you appoint. In case of hiring a real estate agent, make sure that you interview them based on related issues.

Initiate a written contract:

Before hiring a person for any services, it is important that you devise a contract for each professional. The lay out and the details of the work should be clearly written along with the time scales, payment methods and prices. Ensure that you mention every minute detail in the written agreement.

Create a payment plan:

You should be very clear about the payment plan as you will have to frequently pay for the materials throughout the project. It is very necessary that you create your payment plan.

The construction planning:

Prior to the construction process, it is very important that the owner and the related people plan about it. Decide about the construction and the materials used. Due to the rapid development of the real estate industry, there are various options for choice. Apart from just the site engineer, it is also important that the home owner is aware about the rules and regulations regarding the construction planning.

Work with a reputed builder:

Today there are various builders in the real estate market, perhaps you should be very careful while choosing a builder. Do a research on their background and know their reputation before hiring them.

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Source: http://www.commonfloor.com/articles/planning-to-build-a-home-think-through-these-points-14660.html

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