To stop your ‘dream’ home from becoming a nightmare there a some simple tips to follow. Firstly, and perhaps most importantly, put together a budget for the construction that is affordable, based on a realistic appraisal of your financial situation.

If you find you need to make modifications to your dream, do so, and make sure that the home design not only meets your desires, but also fits within your limitations. There are some basic rules to follow that will minimise the chances of allowing your ‘dreams’ to run away with you.

Once you know your budget, set a high end cost that you can afford. This should reflect the absolute cost that you cannot exceed, under any circumstances. Perhaps your lender will have some input into this. Once you have this figure you may realise that you really can’t afford some of the luxuries you will were hoping for. Better to know that now and make realistic plans than to be caught short during the construction process.

From this high end affordability figure take out your calculator and substract at least 15%. Now you have a figure that you can safely work with. You may not realise it but you can expect most construction projects to overrun the budget by 10 – 15%. Again, by being prudent you may avoid having to go begging to the bank, or worse, the in-laws, for funds to make up for construction overruns.

Next you need to decide how best to make the available finances meet your needs. Make a list of things you must have, and then a list of options you would like to have, if finances allow. No surprises, if need be the option list is the one that gets the chop in order to keep to your budget.

Now the fun begins. With your firm budget in hand now is the time to shop for builders and home plans. You will find the task for more pleasing and easier working with your budget and you will avoid wasting time looking at options that just won’t do.

Once you have short listed a number of home plans and builders set aside some time to check out each for pitfalls. With regard to builders ask for references in the area you intend to build and check these out. A useful place to check is with the local city building department. They should have experience of the builders work and a quiet chat may just save you from making a bad decision.

If possible arrange to visit some previous customers and even some existing customers. Again you may gain some valuable insight in to how a particular builder operates and deals with customers. Check to see if there have been any consumer complaints and how they have been dealt with. Often a web search will turn information about builder complaints, particulary for regular offenders.

Building your dream home should be a rewarding experience and by following the simple steps we have outlined you can minimise the chance of the experience haunting your future.

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