Everyone growing up dreams of building a house before turning 40. Getting your own house brings security, comfort, and peace of mind. But achieving it within the age of 40 fills you with positivity and feels like the biggest milestones come to life.
Well, it gives you the best feeling to own your dream house before turning 40, but it requires a lot of research, preparation, and various steps to build your dream house. In addition, it brings a range of challenges, especially when you have a specific requirement to develop it according to your needs and design.
That’s why Brick & Bolt is here to help you! We will help you take the right steps to achieve your dream before you turn 40.
Read on as we will help you develop your dream house before 40 at every step.
Why is Investing in a House in 2024 a Reliable Choice?
When you realize that real estate is a long-term investment, deciding whether or not to build a new home in 2024 becomes much easier.
New Builds Can Save You Money
Renting a house can be an affordable choice, but paying it for years and years can only lead to losses. If we look at the bigger picture, building the house in 2024 will always benefit you. However, the rental cost also continues to rise, making building homes a crucial choice. However, the new construction does not require the constant maintenance of older, established structures, which calls for developing the new house over renting.
You Can Design Your Home as Per Your Own
Designing a home is the best feeling, specially when it comes to your own home. Building your dream house can benefit you over the years, and you can get it designed as per your needs. Rental houses are designed as per landlord requirements, but with new house construction, you can build your own house with a modern approach that matches your lifestyle.
Future-proof Your Building Costs
There will likely be a rise in overall house construction costs in the future despite the easing of supply chain delays in recent years. Rising energy costs have increased the production cost of some construction materials, including cement, glass, and aluminium. Tradespeople shortages have also worsened over the past few years and are likely to worsen before they improve.
7 Easy Tips for Building A Home Before You Turn 40
Getting started early on planning your dream home can put you on track to achieving it by age 40. Here are the essential tips to add to your checklist to build your dream house before 40.
1. Decide What You Want
Before building the dream house, it is essential to know that what makes a house your dream home. so, combine all your house requirements, from design to layout, to ensure it meets perfect picture house requirements. There are various ready-to-move options, like Independent villas, 2BHK, 3BHK, or 4BHK flats, that meet your space and modern requirements. When choosing a ready-to-move space, make sure it is in the middle of the city and matches your budget.
If you are planning to build a house with a custom design and requirements, choosing a leading construction company like Brick & Bolt is a reliable choice to meet all your requirements on the go. They can help you develop a high-quality house within your budget. Before deciding to build the house, ensure you tick all the boxes of requirements, and it defines your lifestyle.
2. Start Your Savings Early
Saving is very important to get on the move to purchase or construct the home and make sure you have enough to pay for the down payment or construction. While you are investing in the building house make sure you carry at least 20% of the total price of the house. Hence, it will end the hassle of interest and lower down the burden of high EMI.
3. Loan Comparisons
To get a better knowledge of the market and shortlist the best options, it is highly recommended to compare home loans from different banks. During this process, check interest rates and processing fees charged by banks, which usually vary from one institution to another. After reviewing and comparing these offerings carefully, you’ll be able to determine the costs of borrowing. This step will give you a better understanding of your loan capacity.
4. Maintain a Healthy Credit History
Maintaining a healthy credit history is imperative to applying for a larger loan amount. Additionally, a healthy credit score demonstrates your financial responsibility. There are several ways in which you can develop a good credit score, including:
- Pay all your bills on time. Timely bill payments contribute a lot to maintaining a sound credit history.
- Use your credit card for several years, as it will help you boost your credit history. A credit card with a long history shows that you have a good habit of paying all the bills.
- Never borrow more than your capabilities. Doing so will increase your credit card debt, which can lead to a poor credit history.
5. Stick to Your Budget
Well, you are planning to build your house within 40 years, and you cannot check the box with any further expenses as there are many financial commitments to fulfil. Therefore, planning a suitable budget is essential. To make the budget, check for all the basic and emergency expenses, as it will help decide the net amount for your dream house. To track and manage your expenses without taking the manual route, you can use a variety of financial applications. While you are on the way to buying property, it is ideal to restrict unnecessary expenses so that you have an additional amount to include in the house budget.
6. Be Aware of Hidden Costs
When keeping a set budget, many people overlook hidden or unknown costs that can amount to lakhs. It is important to note that additional fees such as registration, stamp duty, and khata (where applicable) may be required. In some cases, builders may not mention taxes and other charges, so you won’t know the final price until you start the construction. The total price and registration and stamp duty charges should be requested to arrive at the final cost. Additionally, if you are building a new home, you may be required to buy furniture and other items as well. When setting a budget, you should always take these factors into account.
7. Choose the Right Real Estate Developers
Hiring the best real estate developer is a great way to build a highly efficient property that meets your design requirements and looks like a perfect dream house before turning 40. They have the best design, and their construction team can go the extra mile to build your dream house to match all the house development requirements.
Conclusion
Building a dream house before 40 comes with challenges, but with the right planning and process, you can address the obstacles and get closer to realizing your dream. If you are struggling to find the dream home that matches your requirements and lifestyle, Brick & Bolt is ideal for constructing a modern house that will bring your dream home to life. We have the best team of designers and developers who aim to offer perfection in designing and constructing the property. Contact us today to book your free consultation and walk on the journey of building your dream house before 40.