Building Your Dream Home: The Benefits and Challenges of Custom Ultra Luxury Homes

Building Your Dream Home: The Benefits and Challenges of Custom Ultra Luxury Homes

The thriving capital city of St. Paul, Minnesota, sits along the banks of the mighty Mississippi River. With its world-class arts and entertainment venues, professional sports teams, fantastic parks, and recreational activities, St. Paul is more than just inviting. It is the place to be. Many people agree and have been relocating to St Paul.

However, the city is currently experiencing a seller’s market, making it more difficult for prospective homebuyers. The housing market is tight in many cities across the country, tempting some to think about building their next home instead of buying an existing one.

Everyone dreams of building that forever home. The one that has all of the amenities you could ever want and the custom layout specifically designed for your tastes. Building a custom home has its benefits and its challenges. Before making a decision, let’s look at a few of them.

Benefits

People like new things, and it is no different when it comes to houses. There are numerous benefits to building your own custom home, but is it the right choice for you?

Location, location, location

The first benefit is that the homebuyer selects the location. It is up to them if they want a tranquil beach home, a desert oasis, or a mountain retreat. Finding the ideal location is the first and most important step in the process. People can design or renovate a home, but moving it from one location to another is tricky.

They also get to select the orientation of the home. For instance, they can decide if they want the front of the house to face the south or east so the sun shines on it most of the day, etc. This can be advantageous for melting snow off driveways and other issues.

Custom

Custom means the home is designed for the homeowner, so they get exactly what they want. If they want an open floor plan, a spa, hidden rooms, or whatever they can dream up, they can have it. A skilled architect can fashion plans, maximizing the lot’s size and shape.

New

There will be less maintenance with a new build. Also, if any repairs come up within the initial years, they will likely be covered by warranties.

Health and productivity

In a new home, there is much less chance of toxic materials. Older homes can have many dangerous materials, such as lead and asbestos. This should not be a concern with a new build. In addition, new technology has made new builds more productive and energy efficient than older homes. Homeowners can add solar elements, eco-friendly building materials, and energy-efficient features that older homes lack.

Investment

While homeowners may not think about a new build in terms of investment, they should. Although they may not plan to sell their new home, no one can predict the future, and it is good to know that a newer home will have a better resale value than something without contemporary features found in newer homes.

Challenges

Timeline and costs are the two main conditions that get altered by outside forces. People planning to build will likely get sidelined by either an issue with time, costs, or both since they tend to impact one another.

Property concerns

Selecting the right property is not as easy as one would imagine. There are many things to consider, such as soil type, road access, water availability, sewage, electricity, and even internet service. For instance, is city water and sewage available? What are the options for a well and a septic tank if not?

Design and build

Once a homeowner finds the ideal location, they will need to find an architect to design the home. They will also need a general contractor to hire and manage the team of builders that will construct the house.

While the homeowner can be their own contractor, it comes with more responsibilities than just scheduling builders, plumbers, and electricians. There are zoning issues, building codes, permits, and ordering supplies, to name a few. Another item to consider is if the land is in an area with a homeowner’s association. If so, the HOA will have its own set of rules to follow.

Delays

It is unfortunate, but delays are to be expected during new home construction. At least one or more things, like material shortages, inclement weather, scheduling conflicts, and worker no-shows, are bound to happen during the building process.

The budget

Cost overruns are common with new construction. While some changes can save the homeowner money, they only add to the costs in most cases. Any delays or changes in design or material used will impact the budget.

Resale

Most people building their dream homes are not thinking about resale value. In most cases, a new home will have better value than an older home, but a unique home may not. Since the home is tailored to the individual homeowner's wants and needs, the characteristics may only suit some tastes. Therefore the house may be more difficult to sell later on. This is something to consider during the design process.

Stress

Building a custom luxury home can be stressful even if the homeowner has the best location, architect, and contractor. It can be an emotional rollercoaster and strain relationships and financial resources. It is best to know this beforehand to avoid being surprised when issues arise.

A partner who cares

Building a custom home can be exhilarating and frustrating all at the same time. While there are some hurdles to overcome, there are also many benefits. There is so much to know about luxury home construction in St Paul, MN.

Fortunately, there are excellent real estate agents that can help you locate your new property and sell your old one while offering advice on the next steps. Natasha Cejudo is one such realtor. With her expertise in all things real estate and her connections in the field, Natasha can help you through the maze of options and decisions that come with buying or selling property.

She cares about her clients and is genuinely interested in helping them. Call Natasha today to search for the perfect St. Paul real estate.

*Header photo courtesy of Shutterstock




Work With Natasha

Natasha prides herself on an honest, transparent, and comprehensive approach based on mutual understanding and clear communication. She is patient, insightful, attentive, and responsive; her professionalism, humor, and candid approach make her a joy to work with. If you are considering a move this year or next, she would welcome a conversation with you!