Looking to build your own desert oasis? Whether you’re starting from scratch or renovating an existing property, the idea of creating your own custom home is certainly exciting – especially in a desert where rights of light are likely to be less of an issue. A redesign allows you to fully customize a living space, bring a vision to life, and turn a house into a home. However, before you get carried away dreaming of your favorite granite counters and the perfect crown molding, pause to consider the complications involved. Impractical add-ons, poor budgeting, and a lack of coordination could turn your dream project into a nightmare. You could get stuck with a tab you can’t pay, an idea you didn’t like, or a timeline which seems endless. Private abodes and profitable fix-and-flips are both subject to the same stipulations, so whatever journey you’re about to embark upon, make sure you keep these considerations in mind while outlining your desert renovation.
1) Lay down Logistics
Break down your project’s plan into clear, coherent parts. Setting small and short-term goals will increase the likelihood of accomplishing them on time. Step one will probably be setting a budget which will guide the construction of your dream home. Pick an affordable number within your reason, and designate your “musts” from “wants”. Getting an itemized list of proposed expenses can help you narrow down your choices. Using alternative materials for some items should be considered, like replacing glass with acrylic sheets.
For example, spotting the price of a porcelain tub and comparing it to the cost of a walk-in closet can help you determine which feature you absolutely cannot live without. After creating a budget, scout properties to build upon, to renovate for your family, or to fix and flip for a profit. If you’re planning to resell, research the market to see what reasonable price you can list at, and make sure your rehab costs don’t dip too far into your profit margin.
2) Find Financing
Unless you’re a seasoned investor, most homeowners don’t have the funds necessary to build a custom home. Don’t let this deter you; many home financing options are available that can turn your dream into a reality. Those working in the Mojave region or surrounding areas can find an Arizona hard money lender who can distribute funds quickly, enabling you to jump on that fixer-upper listed at an unbelievable price. Buyers looking to build a life and family in their new custom house can take out a traditional mortgage which allows for a much longer repayment period. No matter which route you intend to take, make sure you have financing in line before falling in love with the perfect property.
3) Pick Priorities
Now that you have a property in place and a budget to work with, you might need to reevaluate your initial outline. Perhaps the house cost more than you were willing to spend, or the foundation demands repair which you didn’t account for. Regardless of the circumstance, pick priorities for your dream home. These decisions mean more than choosing between bathroom vanities and luxurious bedrooms; practicalities such as timeline, contractor bids, holding costs and agent fees also need to be weighed and evaluated. For example, if you’re in a rush to complete your construction, you might have to settle for a less-than-ideal contractor who’s ready to start right away. Alternatively, if you’ll only hire the best in the business, you might be willing to extend your time frame a bit. When renovating a desert home for profit, remember to always prioritize whatever decision will increase the value of your home.
4) Set a Schedule
You’re plan is almost in motion. The property is secured, the budget has been reevaluated, and you’ve realistically readjusted your timeline. Now it’s time to set a schedule and stick to it. Delays and setbacks such as sudden desert storms or unexpected repairs will incur extra costs, so allot extra time when mapping out a strict schedule. Move in a practical order; don’t install your new wood floors until your new cabinetry has been installed and hold off on that crown molding until the paint has fully dried. Map out the day by day tasks with the help of your contractor, and if something is incomplete, investigate what went wrong. Hold your contractor accountable and make sure to diligently oversee your remodel to prevent details from falling through the cracks.
A custom desert home might mean an energy-efficient HVAC system and refreshing pool, or it could entail a brand new build from the ground up. Short-term profits or long-term dreams could be pulled out from under you without proper planning. Be thorough with a detailed plan before starting your project, and you’ll produce the perfect property in no time at all.
