What Is the Best Time of Year to Build A Home?
Aside from buying property, building a home is another way to start with your investment properties. Both methods require good timing for you to feasibly gain profit. Doing so recklessly may inconvenience you, wasting time and money. For this article, we will be focusing on building your home at the right time.
There are two factors you need to consider when timing your construction. These are weather conditions and economic standing. Both are incredibly important; which makes building a home seem complicated at first. It may appear that way, but as long as you have a firm grasp of these ideas, then you will eventually get used to it. These details will help you in the long run, so read further and take some notes.
It’s not rocket science to figure out that weather plays a key role in timing your home building. However, experts have a differing opinion as to which season is the most feasible. Each has its own advantages and drawbacks, so we’ll break it down for you.
Ideally, construction is optimal when the weather is dry, as rains and high winds may slow down build times. Spring and summer are the usual picks, but watch out if you’re starting on the latter. During summer, you may experience extreme heat which is not healthy for you or your workers. In addition, the home will most likely be done by winter, so it can be a good or bad thing depending on your future plans with the property.
Meanwhile, some people consider winter as the best time to commence constructing a new home. If the building is time-efficient, the house will be done by spring, ready for settling in or selling. Fortunately, snow doesn’t come by that much in Melbourne, so it won’t be an issue. However, the weather is still chilly, so it might slow down construction.
There are other drawbacks when you start construction during winter, such as a shortage of laborers. We will discuss it as you go along.
Naturally, building materials aren’t cheap, but you may save money if you are smart enough to look out for bargain periods. Materials go on sale during various times of the year, so watch out for these. They usually happen during the end of the year to get rid of the remaining unsold items.
In addition, land can go on sale depending on how the economy fares at the moment. These changes are usually state-wide or country-wide, and it may take years before going back to its original state.
Contractors might also charge lower rates for their services. This usually happens during the times of the year when the weather is best. Building a home may take longer, but it would be economical.
Availability of Workers
It is important to note that your workers’ availability or productivity matters depending on the time of year they are hired. Contractors are not unlimited, so it may be hard to find someone easily and conveniently.
As said earlier, weather can affect your builders as well. Starting at the end of the year is definitely a bad idea. First, it’s winter season and most likely Christmas season. Who wants to do constructing during that time? Another thing is that there will be substantial delays during this time as the industry typically shuts down at the year’s end for a couple of weeks.
Some experts say that between December and February is a no-no for house building. This is the time when people are usually busy for many reasons, so you most likely won’t find much manpower.
Your Personal Finances
This section is purely subjective; it’s all about your finances. In the end, it all boils down to your spending capability. People usually get excited to build their dream homes right away. However, it may not be feasible to do so when you’re struggling to get by your daily needs.
There may be solutions to this concern. One of these is by taking out loans to build a house, but be careful. Make sure you can pay off these loans, and as much as possible, take out fewer loans just to be safe. Instead of monthly payments which incur interest, get it down with one big down payment to lessen the length of the loan. It might be hard, but it will ease your burden in the future.
In any case, you are better off thinking twice before starting construction instead of charging ahead and failing miserably.