Building a new home can be challenging, but the rewards of your labour and the satisfaction of a job well done are unparallel. Are you planning to construct a new home? Here is a step-by-step guide to help you streamline the process.
#1 Get all the permits
You may be excited to begin building your home, but acquiring all permits beforehand is a must. Your local authorities and government must approve the design and permits for zoning, construction, electric work, plumbing, and others. Take some time to ensure all your documents are authorised for a hassle-free experience.
#2 Hire vendors
You could either hire a general contractor or take on the role yourself and hire sub-contractors. Either way, conduct extensive research before hiring them. Investigate the company’s record and talk to their customers. Make sure to look at their services and material quality. It may be time-consuming to find all the right vendors, but it will help you in the long run.
#3 Foundation laying
This is the first phase of your construction wherein the ground will be dug and levelled. Then, wooden boards will be placed around the edges to form a box-like structure. Next, concrete will be poured, levelled, and cured. Once the concrete is cured and the inspection is complete, you can move on to the next stage.
After the foundation, the framework of the house begins. Support beams are constructed for the walls and ceilings to build the skeleton. The beams will be covered with plywood using house wrap.
#5 Roofing, Electrical, plumbing and HVAC
Once the framework inspection is complete, you can start with the utility work. This includes roofing, laying the wiring, installing sockets and switches, placing the water and sewage lines, drain pipes, HVAC vents, etc.
#6 Drywall, insulation, and interior
After completing all the electric, plumbing, and HVAC work, the drywall process and insulation can begin. Next, a coat of paint and interiors furnishing such as doors, windows, flooring, baseboards, etc., will be added.
And that’s it! But before you start hiring vendors and purchasing material for the job, take several detailed quotations. Have a detailed plan in place and allot a budget for each construction phase while keeping some buffer amount to accommodate any delays due to unforeseen circumstances. Moreover, if you don’t have sufficient funds at hand, consider taking a home construction loan.
Additional Read: Top Trends in New Construction Home 2021
What is a construction loan, and how does it work?
Home construction financing is different from a home loan. For home financing, you receive all the funds in one go. Whereas in home construction financing, the borrowed loan amount is disbursed in small increments instead of a lump-sum. This means that you will receive the money in parts as your construction progresses.
Additional Read: Home Construction Loan: Everything You Must Know
Turn to Tata Capital!
If you’ve been wondering how to apply for a loan to build a house, Tata Capital can help! Enjoy hassle-free loan processing with attractive interest rates, quick processing, and affordable repayment terms.
You can also check your overall EMI burden using our home loan EMI calculator. We ensure you can construct your dream home without any delay. Connect today!