Where ?

Now that you have investigated the "where", the next step is to prepare a personal budget to determine just what you can afford to invest financially in your new home. Saying to yourself or your builder "Do it as cheaply as possible," does not work! Many owners have run out of funds before completing their project, but this can be avoided by proper planning and cost control. Familiarize yourself with construction costs in your area. One excellent way to ascertain costs is by visiting new subdivisions and subtracting lot costs from the selling prices of completed homes. This should give you a fair estimate of what size and quality you can expect for your money. Remember, though, that custom homes are more expensive to build unless you can act as your own contractor. Furthermore, costs increase on difficult lots and with more expensive or elaborate finishes. Friends, architects, contractors, bankers and experienced real estate agents can be very good sources of information. However, it is wise to carefully consider their opinions. If someone tells you something that seems too good to be true, it probably is!

How big ?

Now that you have chosen in what region you want to build, and have made a personal estimate of both construction costs and your individual budget, you are equipped to determine the size, style and quality of home you can afford. If you already own your lot, then this will also be a large factor in your decision. However, if you have not acquired a lot, one can be selected that will complement your desired home. It is prudent to have an architect or builder view your lot to point out any constraints or added costs associated with the land itself. For instance, a lot may require heavy retaining walls and backfill, custom sculpturing and landscaping, or complicated accesses and driveways. As well, the soil on the lot should be tested to determine the type of foundation and sewage system that will be required. It is important to carefully consider such questions as: Will water and electricity be expensive? Will a transformer be mandated by I.C.E.? Will water storage be necessary? Are the access roads all-weather or will I need to purchase a four-by-four to reach my lot in the rainy season?

Match design and Budget:

The following step is to match your home design to both your lot and budget, a task that may force you to make realistic adjustments without compromising your dream. By this time, you should have a good idea of the size of your new home as well as the configuration of the interior layout. It can be very helpful to review plan books, readily available in North America and by mail, to reinforce your original ideas and inspire new ones. It is possible for a plan to be selected straight from a plan book, or for a pre-drawn plan to provide a basis for discussion with your architect. Also, review as many home and decorating books as you can to flag the style of finishes you would like to incorporate in your home. It is much easier to show your architect a photo of the type of bathroom or kitchen that you want than it is to explain it. And always remember, it is your dream home, not anybody else's. Although you value the recommendations and opinions of your architect and contractor, it is you that must be happy with the final product.

© El Residente ARCR Administración S.A. San José, Costa Rica N.B. Like all information on the internet, this article may currently be incorrect or out of date.