With the abundance of beautiful homes in desirable areas on the market why would anyone want to build theirown? Downturns in the economic market provide a windfall for home buyers as the cost is often much lower than building new. Many homes are being resold by banks which only want the original mortgage costs. And often the prices are much lower than this as they just want to dump it.

One of the reasons for building new is that the home builders get exactly what they want. This is important because there are many areas of design which cannot be easily changed in the after-market: bathroom and kitchen size, large closets, etc. In these cases space would have to be carved from other areas of the home and combined to make the right size or there would have to be an addition to the home which would be expensive and thus negating the good price paid for the home.

Another reason is that energy-saving features in home building techniques have grown substantially in past 5 years. “Green” methods such as new insulation and window products have brought down the energy costs as much as 35-40% over the older homes which, although only a few years old, do not have these built-in advantages.

Plans

The first step in building a new home is to have an idea of what you want. This ties into financing and finding the right general contractor for the job because you won't know how much you need until you settle on a design. Many people choose plans from magazines and the internet but many others want a specific home and go to an architect. Make sure you choose plans or get a design that is in keeping with the most modern energy-saving conveniences. Expect to get as many as 6-10 sets of plans because the contractor will need at least 3 for the subtrades and the permit offices might need as many. In addition, it's always good to have 2 extra for emergencies.

Financing

This goes part-in-parcel with hiring a contractor because the contractor will price out the plans and tell you how much you need for the project. But going in beforehand will tell you how much money you can devote to the project. Be sure to keep money aside for moving expenses and to buy new furniture.

The Lot or Acreage

Many lots these days are sold by a developer who wants to build your home for you. This is okay if they have the right style in the right location. Otherwise you will have to find a place elsewhere and, since many city lots are hard to come by, you might have to go further out or to a smaller town.

But before you buy be sure that you can built your home on that specific lot as there may be covenants in place and environmental concerns. For example, there is no use building a home on a piece of rural land if the water table will not allow for a septic field or that it will cost half as much as the home to bring in power.

Hiring the Contractor

When you build a home get a professional to help you as this is no time to be on someone's learning curve even if the price is considerably lower than the other bids. Get someone with experience or, if you want to be the general contractor, hire a contracting consultant to see you through the process. Because building a home can be an extremely stressful time and a good GC can take this off your shoulders, bothering you only for color and design choices and to hand you the keys. He or she hires the subtrades, buys the materials, schedules the work, gets the permits and does the bookkeeping.

Hiring the contractor is a process in itself. Try to find three good companies who will give you a quote as this will give yo a good idea of what the project costs. In addition to the lowest price find one with the right attitude and some one whom you think you could get along with as the process may go on for 6 months or more.

Building the Home

1. Permits: After the financing is in place and the general contractor hired the contractor (GC) will apply for the permits.

2. Hiring of Subtrades: Based on the plans submitted the GC will hire the subcontractors. In many cases an experienced GC will have lists of good people that he or she works with on a regular basis.

3. Foundation: The excavating company will come in and prepare the site for the footings and foundation. After the footings have been poured, if there is a basement, forms will be set up for this. If it is slab-on-grade then a pad will be poured.

4. Framework: Framers raise the walls, put on the roof trusses, build the stairs and cover the building in a plywood or oriented strand board sheathing. There are other methods of framing but this is the standard in a wood frame home.

5.Windows and Doors: This seals off the home.

6. Roof System: When the roof goes on the GC can have the interior materials delivered.

7. Exterior: Siding, soffits and fascia go on. This can go on while work inside is being done.

8. Electrical, Plumbing, HAC: The utilities are roughed in.

9. Insulation and Drywall: This is usually fiberglass batts and sheetrock and then the inside of the home is ready for the décor.

10. Interior Finishing: The walls are primed and the cabinetry goes in. Plumbing fixtures, painting and flooring are installed as well as finishing and electrical fixtures.

11. Landscaping: For a sprinkler the plumber will have already roughed in the outdoor fixtures. Hardscape goes in first then the grass and shrubs.

12. Walk Through: The GC will go through the home with you and mark any blemishes. This includes turning on taps and lights to see that everything is done.