5 Myths About Building Your Own Home
Buying a home is a huge decision, but building a home? There’s a lot of moving parts here. We wanted to talk about five myths some home builders believe going into the process, so you don’t get caught by surprise.
1. You’ll save money
Sure, you could save money, but it’s not a sure thing. Homes are expensive because building them is expensive. Things always cost a little more than you might think. Also, be sure not to assume savings just because home prices are going up. When the market is hot, there’s also more demand for builders and contractors.
2. It’s gonna be fast
We’ve seen it take two years from land acquisition to actually moving into the home. A lot of new home builders only account for the time to dig out the foundation and build—it’s important to also consider the timelines of permits, transactions, contracting, etc.
3. There are no headaches
Home building is a profession, and you’re now taking on that responsibility. If you put yourself in the middle of everything, you’ll feel like you’re working another full time job. It’s a long, complicated process.
4. Getting financing is as easy as financing a home
This is a little tricky. You have to have capital to pay for things up front, and other things you can finance. The problem that we see most commonly is cash flow. If you have a good chunk of financing (20%) up front, that will help solve some of these problems.
5. No experience is necessary
You can definitely take on the challenge, but you’ll have to lean on those who have experience if you want it to go smoothly.
Find the Perfect Property
The benefit of building your own home is that you get 100% customization. You can make it exactly how you want it.
If you’re set on building your own home, we commend you on your ambition. And if you haven’t picked out the perfect property yet, check out our Snohomish County community guides—they go in depth on each of the communities in the area.
If you haven't made up your mind, let’s go check out what’s on the market. Maybe there’s a home that’s super close to what you want. Who knows, maybe you’ll even like it better than what you thought you had in mind to build!
Our website integrates with the MLS, so you can check out all the Snohomish County Listings here.
It’s a hot market right now, but that doesn’t mean it’s not a great time to buy! Get in touch below and we’ll get things moving in the right direction.