Are you thinking about having your own home but still haven’t decided whether to buy or build? It is important to realize what are the steps to build house and so take a informed decision.In this article, first, we gather the advantages and disadvantages of building and then we address the different stages of this process. Finally, we leave you with some savings advice to help you in this life project.
What are the advantages of building a house?
Analyzing the benefits of having your own home can help with the decision.
Greater customization
First of all, allows you to idealize each space, choose the divisions and their arrangement and choose the design and the materials. In other words, by opting for this solution, you adapt your home to your style and way of living.
Choosing where to live
With the possibility of building there is the opportunity to choose where you want to reside over a short or long period of time.
Efficiency and isolation
Contrary to what happens when you buy a house that has already been built, when you start construction you have the possibility of choose the right materials and heating and insulation options.That is, manages to guarantee long-term energy efficiency of the house and, consequently, a greater savings. For example, by avoiding the constant use of household appliances to cool or heat rooms.
It can be more economical
the fact that defining your suppliers, materials and construction company can allow you to save some money. This is because you can design this project based on your available budget. the Municipal Tax on Real Estate Transfers (IMT) for construction is also loweras it only pays the IMT on the land.
Disadvantages of building a house
One of the steps to build a house is also the time to “weigh” the possible disadvantages to advance in this type of process.
construction time
During construction are it took long months for the house to be finishedcontrary to what happens when you buy a house, which you can move as soon as all the documents are signed and taken care of. there may be delays during the workeither due to weather conditions, or due to the scarcity of some materials you initially chose. Above all, it is It is important to analyze your personal situation and find out if it pays to opt for this solution in the short and long term.
essential bureaucracies
In this case, obtaining financing requires a greater number of necessary bureaucracies. Likewise, it must always take into account the management of your planning and budget to meet deadlines stipulated.
Requested amount is released in stages
Do you need to use housing credit for construction? For construction, it is essential to know that amounts are released as the work progresses, that is, between three and six tranches. And how do you have reliable knowledge of this development of the work? There’s one expert who visits the site to check the situation, which also implies a cost.
4 steps to build house
Now that you know some of the advantages and disadvantages of building your own home, let’s explain what are the steps to follow to make this process simpler and more noticeable. However, it is important to note that these steps may differ from case to case.
Already have land?
If you don’t have land, you can’t build, right? The choice of land it is an important moment in which you must invest your time. So these are some important points which to look into:Localization and surrounding areanoting the sun exposure of the land;Fees and tax obligationssuch as the Municipal Tax on Transmissions (IMT) and the Municipal Property Tax (IMI);topographical survey;Area authorized for construction.At the same time it is essential make sure you don’t need to solve problems like slopes, water lines, among others.
choose the architect
After the terrain, it’s time to start research architects. In this sense and with your idea in mind, see the work of several professionals and ask for quotes to get an idea of the prices charged. With the help of the architect you will have the project of your house made, taking into account your preferences. O architecture project has different phases:kickoff meeting it is a meeting in which he tells the architect all his ideas, preferences, routines and even what he does not intend to do. After signing the contract, it is from all this information that the architecture professional will design your house;Previous studythrough which the architect develops ideas to present them in the form of drawn/written/model pieces;Licensing Project: the project presented in the Preliminary Study is consolidated and, after the client’s approval, is delivered to the City Council, along with other documents required by law;Specialties: after approval of the licensing project, projects for gas, electricity, water, among others, are carried out;execution projectencompasses detailed information on architectural projects and specialties;building permit: is issued after approval of the projects. Therefore, at this stage everything that is necessary to give shape to your home is definednamely, specifications, measurements, budgets and 3D images of the project.
And how does housing credit work?
As mentioned above, a housing credit for construction is different from a home loan dedicated to the purchase of an apartment/house that is for sale. This happens because, after approval, the amounts will be released in tranches according to the progress of the works. Anyway, it is possible to have a capital grace period, in which you will only pay interest between the first 24 and 36 months of the process. O approval process for this type of credit may take longer and the maximum value that the bank makes available is based on the appraisal of the work. important conditions for the possibility of having the credit approved are: have land with viability forconstruction, present all necessary documentsto have financial stability is low effort rateto have clean history at Banco de Portugalle have one percentage of value available for down payment.At this stage, you can find professionals who help you to have the best conditions based on an assessment of several banking entities. These professionals are credit intermediaries who analyze your case free.
Construction
Initially, it is important request several quotes from construction companies so you can meet your budget. Foundations, structure, masonry, roofing, insulation, floors, windows, sanitary ware… These are some of the many essential stages in a work to make your home habitable. Soon after the work was finished, the competent authorities carry out the analysis of the same and the installations.
Saving tips to help at this stage
After knowing the steps to build a house, you need to have some savings ideas that can help you move forward with this phase in your life. So, here are some tips to get you started: Define your budget: allows you to set priorities and avoid having extra expenses that you are not counting on having;Choose the materials with a quality/price ratio so that, in the future, you don’t have problems at home that make you spend more money; professionals to help you get the best conditions for your home loan; Invest in energy efficiency, namely in terms of insulation and air conditioning, which will allow you to save on your monthly energy bill. Finding the best conditions for my case
A professional writer by day, a tech-nerd by night, with a love for all things money.