Some dreams are worth shooting for. Everyone has had visions of creating a dream home, but you could make those visions a solid reality. If you want to begin creating your dream home, you’ll need plenty of money, land, and contact with some custom home builders or custom home contractors, who can turn your dream into something tangible on the ground. The best thing about this process is that you can do virtually anything — want an indoor swimming pool? A TV room with one wall as just a screen? A commercial style kitchen, walk-in closets….you name it, and it can be done!
The Holy Trinity Of Building A Dream Home
The main three things you’ll need to achieve your dream are naturally money, land, and a contractor. If you’re building from literally the ground up, you’ll need a custom home designer and architect to help build a plan and a contractor who has a excellent network of local subcontractors and suppliers on hand. You’ll want to look for a contractor who’s been a local at work for about five to ten years and has a good reputation.
Naturally, you’ll need access to a good amount of land as well. Most custom homes take up a significant amount of square footage, hard to find in an already populated neighborhood. Approximately two-thirds of people who are in the process of building custom homes already have a good amount of land at their disposal or are about to get more land.
You’ll also want to make sure that you have a good amount of money set away. You’ll need great credit and between to 20-25% of a down payment to even get a construction loan in the first place. Also be sure to have emergency funds on hand — estimate about 10% more than you think you’ll end up using.
Why Bother With Creating A Dream Home?
A large part of creating a dream home is for prestige and reputation. According to 58% of home owners who have create luxury homes, they say owning such a home is a bigger symbol of being successful than what they do for work or what their title is. Additionally, almost 60% of people buying luxury homes reported that they already have several homes that help support their lifestyle and activities. If you travel a lot for extended business trips or have a family that enjoys traveling, it can be useful to create a lovely space to stay in those locations. It makes work feel like home and vacations more comfortable.
Furthermore, sinking your money into equity can be a good way to go, instead of storing in banks or stock markets, which are subject to fluctuation. A survey was conducted among 500 people who had bought luxury homes. About 75% of those surveyed said that they put more faith in home ownership as a solid investment than putting their money into the stock market.
If you’ve been thinking about creating your dream home, have the funds to do so, why wait another day? Make your dream a reality and settle in for a home you don’t have to keep just in your imagination anymore!
