Building a home is no small feat and the expense associated with building a luxury home can be very significant. But regardless of the anticipated size and price tag for your new home, nobody wants to waste money or spend more than necessary. There are a number of potentially costly home building mistakes that many people encounter while building luxury property. So today, Mansions & Estates International CEO Scott J. Binsack will explore tips for avoiding these costly home building mistakes.
Home Building Mistakes: Choosing the Wrong Builder
If you choose the wrong builder — especially a builder who doesn’t have the skill or dedication to complete the job properly — you risk a situation where you need to pay someone to correct the first builder’s mistakes.
You could also end up in a situation where poor building quality necessitates major repairs in a matter of a few years.
The wrong builder could also construct a home that simply doesn’t fulfill your unique vision for the property. So again, it’s essential that you choose someone with the skill and vision to transform your dreams into a brick and mortar reality.
The same rule also goes for architects. Don’t skimp on the architectural design of your home; hire the person who’s best for the job instead of the architect with the lowest price.
Home Building Mistakes: Including Features that Make it Difficult to Sell
One of the benefits of building a luxury home is the fact that you maintain full control over the home’s design. But this can lead to some real problems, especially if you sell the home in the future. And while most don’t build a home with plans of selling, the reality is that few people stay in their new home for life.
So be cautious when including features that could make the property difficult to sell. For instance, if you build a five-story home, this could be off-putting to prospective buyers. Similarly, you may build atop a hill because of the incredible view, but if there are 45 steps leading to the front door, then selling the home is going to be a challenge and you could be forced to reduce the price in order to sell the property.
Home Building Mistakes: Cutting Corners
It can be tempting to cut corners in an attempt to save money, but this can often lead to a situation where you need to replace or repair that particular “corner” at some point in the relatively near future.
So if you plan on owning the home for a significant length of time — and this is usually the case for those who build a custom luxury home — avoid cutting corners and always opt for the best quality so you avoid the need to make costly repairs or upgrades in the future.
Home Building Mistakes: Going Too Big
It can be tempting to build big, but not every person needs a 7,000 square foot home. Don’t build big just for the sake of going big. Each space should have a defined purpose.
If you build a home that’s too large, it may prove to be impractical and selling the home could be very difficult. What’s more, the home’s size can dramatically impact its atmosphere in some very negative ways. An excessively large home can feel empty or cold and impersonal.
A talented architect can design a home to feel larger, so achieve the illusion of spaciousness using this approach rather than going big simply for the sake of building something tremendous.
These are just a few of the financial mistakes you should avoid when building your new luxury home. And if you’re seeking convenience, don’t forget to turn to a construction consultant like “Scott Binsack” of Mansions & Estates International. Scott will serve as a liaison between you, the client and the architect, contractor and craftsmen. Your building consultant can serve as your biggest advocate, while also ensuring that the job is completed in a manner that reflects your expectations and needs.
So if you’re ready to build a new luxury home, turn to Scott Binsack, founder and CEO of Mansions & Estates International, a firm that’s committed to providing in-depth construction consulting solutions to clients worldwide. Call 800.956.3855.