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Constructing the home you’ve always pictured can be exciting yet intimidating. It’s best to be prepared so you avoid potential pitfalls. Here are the key tried-and-true tips that can help to make the home-building process easier:

Set a Realistic Budget

Most of us have admired a beautiful home at some point. However, when you’re looking to get started with the construction of your own dwelling, you will be limited by the funds available to you – that’s the reality. If you want to have your dollars go a long way toward satisfaction with your future home, investigate the typical construction costs per square foot. You’ll know right away the size of the house you can afford to build.

If you’re not covering the costs out of pocket, get an estimate from a lender so you know how much of a mortgage you are eligible to borrow and ensure your house plans reflect construction that is within your budget.

Choose Your Builder/Contractor Wisely

The further you get into the construction process, the more excited you’re likely to feel, as you eagerly anticipate stepping into your new home. Long before that day comes, you need to carefully evaluate your potential builder or contractor. Key considerations include the individual’s track record with past clients, their experience in the industry and their professionalism in any interactions with you. It’s important to feel confident that you will be happy with the building process and finished product.

Select the Right Location

Which type of neighbourhood do you prefer? Consider whether a rural area or a new development would suit you better, for example. If you need access to public transportation or specific amenities, like supermarkets in walking distance, remember to assess each potential location with your criteria in mind.n stopping the car without having to use the brake pedal.

Protect Your Investment

Stay involved throughout the building process. Ensure that you or your contractor purchases high-quality materials to maintain structural integrity and give you long-term benefits. The price difference for these materials may not be as high as you imagine and the value you get usually makes them worth the cost.

Get Started

At the BWU Co-operative Credit Union Limited, we offer Real Estate Loans to make your dream home a reality. Apply online or complete our contact form to have one of our helpful loan officers call you.

What You Need To Know About Building Your Dream Home