Buying an existing home or building a new one is an expensive proposition, but if you’re willing to take an unconventional approach, you can build your own home in increments and spread the cost over a period of years, possibly saving yourself a mortgage. .

The first step is to find and buy a property. It is necessary that the property be inspected and deemed acceptable for sewer or septic system and availability of water and other utilities, and ensure that the land is zoned for residential use. Make sure you get all the building permits and other documentation you need, and then plan your home.

You may want to see home plans, for sale in bookstores and through various magazines, or you may want to design your own home. Think of ways you can build your home in stages, ensuring that the home is habitable at an early stage of construction. A young couple decided to build a conventional stick-built house, but first finished the basement area and covered it up, then lived in the basement while building the rest of the house.

There are companies that offer modular homes built largely in a factory and then assembled on site. [http://www.shelter-kit.com/lofthouse.html]. Some of these are created in segments that can be independent or assembled all at once or over a period of time. Manufacturers will be able to give you valuable advice on the best way to proceed.

Make sure the most necessary parts of your home are built first. If necessary, you can essentially live in a room that serves as a kitchen, living room, and bedroom (tenants in efficiency apartments do this all the time), but unless you want to live very rough and use an outhouse ( Not a pretty idea!) One of your first priorities should be building a fully functional bathroom.

Also make sure that although you plan to add to your house in increments, you plan the entire structure of the house from scratch. You may decide that you will add a laundry room in two years, for example; you’ll want to have the blueprints for that laundry room now, so that expensive plumbing and electrical work can be done as efficiently as possible. Usually this means clustered rooms that need a very close water supply to minimize material needed.

Building your home over a period of years using your own money or accessing short-term unsecured personal loans, or a combination of the two, will allow you to own your home immediately and save many thousands of dollars over your lifetime. If you are willing to be patient and live unconventionally for a while, this is a great option.

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