It’s the new year and you know what that means…time for resolutions, time for improvements, and time for a change. What better way to transform your life in 2019 than with your dream house! Whether it’s buying, building, or remodeling this is the ultimate guide to getting your dream home!
1. Know your budget
It is incredibly important that you know your budget, especially if you are buying or building your dream home. Finding the best real estate agent for you can be very beneficial in the budget building process. A good real estate agent knows how to plan for the unexpected costs that will arise, the changing market, and your specific needs. This is the person that will be able to distinguish if your dream home right now is a realistic possibility.
Buying a dream home is tricky and often involves remodeling. Building your dream home allows you to alter every small detail into what your vision is. In this case, building a dream home can sometimes be a better option than buying a prebuilt home. The right real estate agent knows these differences in costs and can assist you in determining which route is best for your desires.
Having a set budget is important even if you achieving your dream house through remodeling. If you are doing major remodeling it is a wise idea to involve professionals to ensure the foundations are done correctly. Bonus! This adds value to your house! For smaller design remodeling we suggest you hit the web. Pinterest is a great tool for creative ideas on DIY remodeling to achieve your dream home! Bonus #2! Most of the DIY projects for achieving your dream house are very cost efficient!
Regardless of if your dream home is through buying, building, or remodeling, a contingency plan is a MUST! Experts suggest around a 5-10% contingency plan.
2. Plan a fixed timeline
Pick specific dates in the future that you will have steps finished. If you are buying a house, put a deadline on your search with a date you have to say yes by. If you are remodeling then write down the dates that you will have certain projects finished.
Having a timeline with your current home is beneficial if you plan on buying or building your dream home. Having a specific date your current house must be sold by will ensure that you have the financial backing when you start planning for the house of your dream!
You can find some tips on selling your house here!
3. Set aside the monthly payments beforehand
Every month set aside the future payments you will be in charge of including the mortgage, updates, insurance, taxes, etc. First of all, this will allow you to quickly know what your budget is and what you just cannot afford. Also, when it comes the time to buy or remodel you now have a pretty good amount of money saved for down payments.
If you find that your monthly savings and your future wishes aren’t adding up then it would be a wise next step to consult with professionals. You may decide to discuss the next steps with your bank. But, your first consultant should be a professional designer or real estate agent. Having a field professional on your side gives you inside knowledge on actual costs and where you may be able to cut costs.
4. Think of everything as an investment
When you are buying, building, or remodeling for a new home you will get overwhelmed and you will have unexpected costs. It is inevitable. There will always be a loose floorboard, more expensive appliances you just have to have or electrical issue you never even thought of. But that’s okay! If you listened to the above tips then you already have a 5-10% contingency plan in place for when these unexpected events occur.
Remember everything you do to your house is raising its future value. Things such as foundational changes and appliance upgrade greatly improve the worth of your house. And even the smaller DIY updates greatly add to the appeal of your home!
5. Get picky and do it right
Last but definitely not least, don’t be afraid to be picky! This is your time to get your dream house, make sure that every small detail is done exactly as you want. This is a huge life goal, experience, and opportunity for you. Don’t get too consumed in the hustle and bustle! Have fun!
I want to Sell My House!
Great! Indy Signature Group specializes in selling homes in or around the Indianapolis area. We consistently sell homes for 98.7% of list price and would love to help! Contact us at 317-912-4910
- Top 50 Team In Indianapolis Area
- Top 10% Team in KW Office
- Sold Over 1,200 Properties in 12 Years
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