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Step 1: Build a solid budget. Start doing research about how much things cost and you’ll quickly get an idea of what you can afford and what are pipe dreams.
Step 2: Choose a plot of land while keeping your budget and building plans in mind. Want a spectacular view or waterfront property? It might cost you extra, or it might not. You won’t know until you start looking.
Step 3: After you’ve established a budget and chosen your lot, it’s not a bad idea to get pre-approved for a construction loan and mortgage. Head to your lender and see what they can work up.
Step 4: Start a bidding war. Ok, maybe not a war, but a skirmish at least. Carefully select a few contractors with a good reputation, clearly communicate what you want and ask them to come up with a quote. Use your research to support your position and go from there.
But…be sure to consider the following before you make your final decision.
If you’re working on a large job, it may be a requirement. Licensed contractors get certified by having the proper amount of experience and passing rigorous state-approved tests. Hiring a licensed contractor isn’t always a requirement, but it’s usually smart. Licensing is there for your protection.
While price, experience and expertise are all major components, it’s also important to consider personality. If you and your contractor can work as a team, you’ve already won half the battle.