Building A Custom Home in Canada

At Mortgages With Sue, we have been seeing an uptrend in construction loans amid one of the lowest home inventory levels in recent history.

Here are a few things to keep in mind when considering building your own custom home from the ground up:

- Your Schedule Is Only A Guideline

Builder plans are always “high hopes” and there is ALWAYS a good chance that there will be setbacks within your plan for the new home. Plan ahead and never count on the timeline given by your builder. Our Canadian weather can contribute to delays, too.

- Design For The Future, Not The Now

Do not go for the best flooring when you have a 120lbs Bernese Mountain Dog living with you. If you have toddlers, expect them to express their artistic views on your walls and make messes in the kitchen. Leave room for future growth.

- Plan For Storage Space

When planning the basement outline, always keep storage in mind. This is key for a family. When it comes to switching over different decorations for every holiday or storing your Costco hauls and seasonal items, you'll be wishing you had a storage area.. Never take up your whole basement with living space.

- Research Your Contractors (A Ton)

Go with a contractor you can trust. Unfortunately, there are so many bad apples that can steer you in the wrong direction. Ask around, talk to lots of people in the industry, look for reviews, and go with a trusted company that is reliable and credited.

- Finish Before Moving In

Have a solid plan/idea in mind. If you do not have the time to design and plan for finishing the basement in the future tackle it right away before moving in. Most clients opt for unfinished basement to accommodate the budget, with plans to finish in the future. If you know that you do not have the time and energy to plan in the future, tackle this before moving in. It makes it much easier for you down the road.

- Sweat Equity is The Best Equity

If you can do small projects yourself, DO IT. We are not talking about plumbing and electrical. We're talking about making the house look pretty down the line. Paint the drywalled garage and pick an accent wall or colour to brighten up the contractor paint.

- Invest In Fixtures

By investing in higher-quality fixtures like the hood vent, vanity and light fixtures, you'll be able to swap out finishes and colors to freshen up the house later on without having to make major changes or repairs.

- Go Neutral

Choose a more neutral paint for the entire house. You may love emerald green or midnight blue now but you'll be cursing yourself in a few years when trying to match new decor or when you have to cover it up.

- You'll Still Spend Out of Pocket

A construction loan will cover the big stuff but you need a contingency fund for construction expenses that come out of pocket. Those quick runs to the hardware store add up.

- It's Stressful But So Rewarding!

Building your own home is a never-ending tug-of-war between wants, needs, and compromises. If you keep the main goal in sight – a home where you can grow - it’s easier to see what’s really important.

Building a home may seem like a daunting task, and, well, it is. Start with long-term planning and put in a bit of sweat equity and a custom home can be one of the greatest gifts.

Also, don't forget the storage - trust us! :)