Residential real estate has been so hot through the first quarter of 2021 that many buyers have given up on finding existing homes. Instead, they have decided to build. That is not necessarily a bad idea if you have the time, money, and patience. Just know this: building a home is not all sunshine and roses.
It takes an awful lot to turn a vacant piece of land into a nice property complete with a single-family home. It also takes a lot of people. And whenever you throw multiple people and processes together, you have the potential for problems. More than one home buyer has learned that the hard way.
If you are thinking of building a home, be prepared for at least some amount of stress. Below are five reasons building a home is not all sunshine and roses. You are likely to experience all of them to one degree or another.
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1. Designs Often Change
It is rare that an architect’s original plans become reality without any alterations. According to Utah’s Sparano + Mooney, an architectural firm specializing in mountain modern architecture in Park City, design changes are fairly routine in new home construction.
Design changes are sometimes the result of architect mistakes. Other times they are facilitated by homeowners who realize, after construction begins, that they don’t like the original plan. In either case, design changes slow things down and add to the budget.
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2. Problems with Materials
New home construction can be slowed by problems with materials. Lumber deliveries might end up being a few days late. Specialty materials may be out of stock at the very time you need them. Even suppliers are known to send the wrong materials to the site. Every materials problem requires multiple decisions involving homeowner, builder, designers, and subcontractors.
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3. Construction Delays Are Routine
Design changes and problems with materials lead to construction delays. But make no mistake about it, plenty of other things can slow down construction. Maybe the bank isn’t releasing the money fast enough. Perhaps the area experiences an unusual bout of bad weather. An endless list of things outside of your control can delay construction.
Don’t be surprised if one particular phase of the project comes to a standstill because subcontractors don’t show up. This happens more frequently than you might realize. Indeed, many of the problems that crop up during the building process are related to people rather than processes.
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4. You Might Have to Be the Bad Guy
One of the most shocking realizations you will come to is this: you might have to be the bad guy when dealing with your builder and subcontractors. You are paying to have your home built to your standards, not anyone else’s. So you might have to give the builder a hard time if the drywall contractor or painter does a less-than-acceptable job. You might have to be a stickler about how the yard is graded. You might have to put up a fuss over the landscaping.
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5. Cost Overruns Will Occur
Last but certainly not least is the reality of cost overruns. They are part and parcel with building a home. Your job is to keep them in check as much as possible. And yes, you may have to compromise on something you really want in order to prevent cost overruns from busting your budget.
There is a lot to be said about building a home. For some people, it is the best choice. But rarely is building a sunshine and roses experience. Those who choose to build need to be prepared for some stress.