Self-Build

Building your own house can be one of the most satisfying or aggravating activities that homebuyers can undertake. Be certain that building your own house is the right option for you. The key to a successful build is to understand all the steps involved, and to follow through with the many details involved in building a home.

Advantages and disadvantages of building a house:

Advantages	Disadvantages
More customized to your wants and needs. All components of the house are new. Most components are of the latest design. New houses are generally built in areas of expansion rather than of decline. This will help your future resale value. May be more personally satisfying if you take an active role in the house building process.	Generally more expensive than a resale house. The delay during time of construction. The added costs--landscaping, window treatments, decorating, etc.--that you incur after moving in. More complicated--finding a lot, finding a builder, getting a construction loan, etc.

Hints for a successful build

Do not overbuild for the neighborhood. Having the biggest and most expensive house in the area may be wonderful for your ego, but it will be a disaster when it comes time to sell.
Build for resale. No matter how long you intend to stay in the house you build, it will have to be sold at some point (which is often sooner rather than later). Never build strictly for your own needs and tastes--a 1 bedroom 3 bath house may be perfect for you, but it will be next to impossible to sell.
Get the best contractor your budget will allow. When building a house, quality is usually more important than quantity.
Be prepared for delays. Building a house is a complicated project and utilizes dozens of subcontractors, workers and suppliers. Delays can and probably will happen, and that will back up the entire process.

A delay, for example, in the framing stage stops everything: electricians and plumbers are unable to do their "rough-in" work until the framing is completed. Do not lock your move-in date in stone--it may be weeks later.

Monitor the progress of the house building as much as possible. During construction a lot can be accomplished in a short amount of time. This is especially true during the framing stage. Catching a mistake early will save a lot of headaches later.
Watch your construction allowances. Generally, in the total cost of building a house you will be given allowances for such items as flooring (carpeting and vinyl), lighting, plumbing fixtures, etc. Make certain that you can actually get the materials you want within the allowance amount.

For example, if you have a $3500 flooring allowance and the carpeting and vinyl floors you want will cost $5500, you are the one who will have to make up the $2000 difference. These "allowance overruns" can add up quickly!

Step-By-Step Guide to Self-builds

From the first idea to the finished project, there is a great deal to think about when you decide to build your own home. By following the six steps listed below, you will make sure you have answers to all the important questions, and have a well-laid plan for getting the job done.

Step 1: Arranging Financing
Step 2: Finding a Lot
Step 3: Home Style and Plan
Step 4: The Legal stuff - Building Permits
Step 5: Building Up From the Ground to the Roof