Purchasing an existing home is a fantastic alternative for the majority of Nepalese who want to own their own home. And there are several options that can be bought. However, what happens when you have a particular concept in mind?
You have the opportunity to design and construct a home that is personalized to your individual requirements. everything from the layout and design to the new, customized furnishings and fittings. Although, project management is not simple for young players when it comes to choosing materials, supervising construction workers, gaining government permits, and managing the entire process.
This blog entry simplifies the complicated challenging process by categorizing it into subsequent stages.
· In search of land
· Making sure that the funds are in order
· Considering the size and a house plan
· Choosing the most suitable professionals to hire
· constructing the home
· In search of land
This is ideal if you already own the land to construct on. If not, the first step is to choose the location, size, and price range for the land you wish to purchase.
You might also search online for land that is for sale. Alternatively, consult a real estate agent who can advise you on the neighborhood you’re contemplating and bargain for the best purchase price.
An agent’s fee is often adjustable and ranges from 1 to 10 percent of the land’s cost. The following information can be verified either directly or through your agent with the ministry of lands:
· Who is the landowner?
· How does the zoning structure work?
· What licenses you’ll need
· Whether the property has distinct borderlines
Making sure that the funds are in order
You will probably look to a bank for financing unless you have a sizable quantity of cash on hand. Since you are requesting money for a concept rather than a tangible house, a construction loan is typically more challenging to obtain than a standard mortgage.
A cost estimate will be necessary when you approach a bank to obtain financing in order to improve your chances of being approved. This covers the supplies required to finish the building as well as precise floor layouts and budgets.
Some lenders do give you the choice of adding the cost of buying land to the total, while others just provide the construction costs. Before choosing a loan provider, talk to at least three different ones and compare terms.
Following approval, the funds are disbursed in installments upon reaching predetermined milestones. Some banks will ask you to pay merely interest during construction rather than a larger sum. You have more freedom and time to save as a result. Others demand that you settle the balance after completion.
It is likely that you will spend more than you planned. Have an extra 10% of your budget set aside to be secure in case you need to cover these unforeseen expenses.
Considering the size and a house plan
When creating a custom home, it’s simple to get carried away because you want everything to reflect your personal taste. However, there is absolutely no issue with starting simple and then including the extras as soon as you are able monetarily.
How are the house’s dimensions and layout determined? Here are some things to think about:
· Availability of bedrooms: A perfect home should feature a guest room/office and enough rooms for each person to sleep separately. Apart from the couple who live in the house, that is.
· Number of Bathrooms: There should be at least two bathrooms. A separate one for the rest of the family or visitors, and one for the main bedroom.
· Layout of the home: If you have a baby, make sure the nursery and the master bedroom share a wall to keep them nearby. For seclusion, no bedrooms should be adjacent.
· In the back of the house, away from the street, should be the master bedroom.
· House ground: There should be flat terrain all around the house. For noise and safety, the more space there is between your entry and the street or sidewalk, the better.
· Direction of House: Houses facing south often receive the majority of the day’s sunshine. Your primary rooms should be facing east and west to enjoy the beautiful sunrise and sunset.
· Square footage: work with your architect to estimate this based on your chosen house plan.
Choosing the most suitable professionals to hire
We are aware that it can be tempting to attempt the task of building a house on your own in an effort to cut costs. But let’s be honest: Since you most likely lack building knowledge, it is simple to make costly errors that may require years to correct.
Building a sturdy, secure home will be easier if you have the appropriate individuals on your side during the entire process.
You must have these individuals on your team at all times.
· Interior Designer
· Construction Engineer
· Electrical Engineer
· Architect
constructing the home
It’s not time to just sit back and let things unfold now that you have the correct crew on your side. To adhere to your timetables and budgets, you must still take an active role in managing them.
To expedite the procedure, the expert team you select will engage subcontractors who are paid from their own expenses. Depending on the size, layout, and labor force, the usual building period could range from seven to twelve months.
You now have the opportunity to implement your vision. Although purchasing land and constructing a home is a significant financial commitment, following this easy advice might help you save money over time.
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