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Building a house from the ground up requires meticulous planning regarding your financial resources. If you want to get the most for your money, it’s less about finding the cheapest materials and more about planning your project for the long term.

Avoid these blunders at all costs, or you’ll be paying for them for many years to come.

1. Poor Site Selection

Your property needs to be in a good location. If you’re spending money on the house, you want to ensure that the site works best for your needs. Many people get caught up in the idea of being close to work or a commute. That may work short-term, but it could be a disaster if you have a car accident or your job moves to another city.

Sites on the side of a busy road or near a significant construction area will negatively affect your property values. While building your home, you’ll be putting up a sign and be a nuisance for traffic. Even if your house is finished, it will sit next to a construction site for a few months. In either case, you don’t want the negative impact that a major road or a construction site can have on the value of your home.

2. Poor Project Planning

You have to have certain things in place before you begin your project. You have to have a firm budget that you can manage and stick to. This is why you must know every detail of your project before you begin it. Know how much you need to spend on things such as permits, appliances, supplies, and labor.

You wouldn’t want to be making significant decisions about the flooring just before having the concrete poured. Avoiding these kinds of blunders takes a lot of homework, so you may want to consider hiring a professional architect to help you make the right decisions.

3. Starting Without Enough Money

You need to have a solid financial plan for your project and know how long it will take. You should not have a deadline for finishing the project. If you have a groundbreaking date that you need to adhere to, it will inevitably cause you to cut corners.

You should have an adequate amount of money set aside for unforeseen problems. If you run into issues with your project, you shouldn’t have to wait for more money to come in from your regular paycheck.

4. Not Holding Contractors Accountable

You need to have the right contractors working on your project. That’s easier said than done. You may have the best contractors in the world, but they still need to work to your timeline. They also have to be accommodating to your schedule if you’re going to have a successful project.

If you have a schedule that you must keep, you need to find contractors who will work with you. It may also be wise to hold contractors accountable. You have to have a contract in place that details exactly what the contractor has to deliver and when.

Be sure that the contractor understands that you are serious about this. If you don’t hold them accountable, you’ll end up settling whatever you get, and you can’t complain about it.

5. Not Choosing the Right Contractor

It’s essential to find a contractor that you can trust. Many people get into business with a contractor that they know personally. You may also be tempted to choose a contractor you used in the past. You shouldn’t choose a contractor based on whether or not you like them.

You should look at their construction portfolio to see if they can do the kind of work you want on your house. You want to make sure they have a good track record, especially if you’re working with a general contractor who oversees the project.

Conclusion

If you have a solid financial plan, have a clear idea of what you want your project to look like, and trust your contractor, you’re going to see a project through to the end. These mistakes aren’t minor. If you make them, you’ll end up spending more than you need to for your project. Avoid these blunders at all costs so that you can save money for the other parts of your life.

When it comes to custom-built homes in Tulsa, OK, we’ve been at the top of the industry for 35 years now! There is no high-pressure sales pitch at Banner Custom Homes, simply a dedication to high-quality design and a house you’ll be happy to call home. We can create your dream house, no matter what it looks like in your head. For more information, contact us today!