One thing list plan do before12/28/2023 ![]() While the general contractor typically picks most of the building materials, appliances, and amenities, you will want to involved in this process. This process will give you a pretty good idea of what your home will cost to build. Start with getting references from people you know who were satisfied with their builder, then carefully interview at least three. There is a delicate balance between picking a contractor who is affordable and one who does quality work using good materials. In most cases, the bulk of the expense of building a home is the money you'll pay to a general contractor (GC), who will manage all the laborers and subcontractors who work on the construction of your home. Get at least three contractor bids (and check references).Make sure you build in a buffer to your budget so that the inevitable overruns don't break the bank. This often occurs because the costs of building materials change or because of changes you request during the design and construction phase. ![]() Virtually all construction ends up costing more than initially planned. Talking to an independent financial advisor is a great way to determine how much you can comfortably spend to build your house. In fact, it is a very good idea to stay well under that amount. Beware of banks who want to lend you more money than you can afford-this was one of the reasons behind the 2008 financial crisis. There is no reason to build a house that costs the maximum loan amount the bank approves.The Spruce Home Improvement Review Board.
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