When many people think about their dream home, they envision building a custom home from the ground up. However, this is not the only option. As an alternative, you may be able to complete a major remodel to your existing home to create the perfect living experience. Deciding between a major home remodel and custom home building is challenging, and it requires careful review of many factors. Your attention to each of these vital points will help you to make a decision that is well-suited for you and your family.
Your Concept of a Dream Home
A dream home is aesthetically pleasing as well as completely functional for the entire family’s needs. This is a space where everyone feels comfortable and relaxed because of the features and the ambiance. Therefore, the first step to take when making this important decision is to determine what you and your family need in a home, such as a specific number of bedrooms, bathrooms, a functional kitchen and living areas. You also need to think about available storage space, lighting and other practical features. After you have determined what you need the home to have, create a list of wants. This may include an outdoor living area, a large foyer, a media room and more. Keep in mind that the home’s location is also a critical factor to consider. Is your current home in an ideal location, or are there features that you may improve if you relocate to a new neighborhood?
Regulations and Limitations
After you determine what you need and want in a home, examine regulations and limitations for your current home and neighborhood. If your existing square footage and layout will not meet your practical needs, you may need extra space on the property to add a home addition. You also need to ensure that your HOA will approve this type of project and that there will not be zoning issues. In addition, research neighborhoods that may be suitable for a custom built home. How do HOA rules, building codes and other factors impact your ability to build a dream home in these potential areas?
Cost and Financing Options
After you examine these points carefully, you may be able to eliminate one option entirely. If not, you should then focus on finances. Consulting with a builder can tell you more about the cost of a home remodel project versus new construction costs. Financing options for these types of projects may also vary, so you should reach out to a mortgage company to explore loan programs. While both projects may give you a similar end result, you may be surprised to learn that one option is much more affordable than the other one in some cases.
Both a home remodel and custom home construction may ultimately give you the dream home that you desire, but one option may be much more practical and affordable. After you determine what you are looking for in your new home or newly-remodeled home, reach out to the team at Alair Homes Cuyahoga Falls for more information about the options.