All-time low mortgage rates and limited inventory of existing homes has many prospective homeowners making a big jump: building their own home.

Building a home for the first time is a large investment and when move-in day finally comes, you want to be sure that you’re walking into exactly what you envisioned and agreed upon with the builder you chose. The last thing any new homeowner wants is to be hit with unexpected costs, time-consuming changes or worse, design choices that can’t be undone. To avoid any emotional rollercoasters, we’ve provided a few tips to put to use when planning your new home build and to set your expectations where they should be!

Leave it to Experts

Building a new home may be the largest project you ever take on, and trying to complete your dream house by yourself will more than likely leave you stretched thin and desiring more from the finished product. Find a team of builders that you trust and feel would do a good job executing your plans. There’s plenty to choose from, which can make things a bit difficult. Try to narrow your list down and start asking questions such as:

Do you have liability insurance if something goes wrong?

Can you provide me with references and examples of work, not just what’s on your website?

Any reputable and trustworthy homebuilder should be excited and proud to show you their work and will want to communicate with you openly about it. Decide who you feel comfortable talking to and spending a lot of time with.

Set your Priorities

Once the build process begins, things may change along the way. From the early design stages, choose the things that are most important to you and let your contractor know that those are your priorities above all else. You may also consider dividing these up between you and your family to make sure every person gets the things that they need out of the space.

Discussing and deciding what your non-negotiables are will help guide you through the entire process and make things easier to deal with along the way. If unexpected changes have to be made, you will have something to fall back on to ensure you and your family are still happy with the finished product.

Manage your Budget

Giving your budget some wiggle room will leave you much happier in the end. Most home builds never come in at the exact price you decide on for a variety of reasons, whether it be from unexpected costs of building materials or premium fixtures, or even weather delays.

It’s also important to be very clear with your builder about the finishes, materials, appliances and more that you want from the beginning so there are no surprises. Clear communication is key when it comes to pricing, and any experienced builder will make your budget goals and concerns their own.

If you’re ready to take the first step in building your dream home, our Find a Builder tool will help you find the perfect builder among some of Indianapolis’ most reputable and experienced home builders. If you’re trying to pick a location worthy of your new home, our Need a Lot feature will show you available lots and builders in the areas that you’re most interested in.

Building a new home can be overwhelming. BAGI has the resources and industry-leading members to help you get started and enjoy an exciting, successful experience.