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Everyone has their own concept of how their dream home should look like. For some, it is an apartment in the heart of the city. Others may dream about cottage on the riverside or a luxurious mansion isolated in the countryside. Building a house is a challenging work both in financial and planning aspects. The ultimate objective of a dream house is that it should fulfill your unique needs and wishes. There are so many things to be considered while building a house. This article will help you in identifying all those factors. Construction of a house has two stages pre-construction and post-construction. Bellow given points indicates the factors to be considered in the pre-construction stage.
Before you plan the structure of your dream house, you need to find a perfect site which suits for your dream house. While buying the site you should consider the factors such as price of land, surrounding areas, transport facility, hospitals, schools, buildings nearby, other important locations nearby, etc.
Deciding on the space/area required is an important task in the process of building a house. This will be closely related to the plan of your dream house. All kind of dream home will require a certain number of rooms and amenities it is based on the number of people will be living in the house. While deciding how much space you require, you have to consider the factors such as; number of bed rooms required, size of kitchen, dining area, balcony, courtyard, etc.
All the architect/ engineers may not be having the skill to build house in the exact way that you desire. A precious handful of people have the right skills to design and build a dream house. Talk to a number of architects/ engineers, give them your basic plans, and ask them to come up with precise designs for your house. After finalizing the plan approach a contractor for completing the construction. Interior designers can help you in designing the interiors.
Never start building your house until you are happy with the plan and your team is pleased that it can be safely implemented within the chosen time frame. Always consider the suggestions and opinions of designers and engineers. Have a nice relation with the construction team; this will help you in meeting all the specifications you need.
All the above mentioned steps are commonly done by people those who are constructing a house. But there is an area where people don’t give much concentration. We have already mentioned that there are two stages in the construction of a house such as pre-construction and post construction. 70% of the people are concentrating only on the pre-construction part. They think that once if the construction is done all their responsibilities are over. They won’t consider the contingencies that might occur in future. Home Insurance plays a very important role in meeting the future contingencies related to a house. There are different factors that can cause defect to your house such as; fire, earthquake, lightning, etc.
Home insurance is a contract between an insurance company and the owner of the home to cover certain types of damage to the property and its contents, theft of personal possessions, etc. This is most important form of insurance after Life insurance because people generally make their biggest investment in home. It is not just about money but also about emotional attachment to the property. Therefore, it is extremely important for people to protect their home and its belongings from loss or destruction by taking up home insurance.
Home insurance covers the structure of the house. If the walls and other structure of your house are damaged then a home insurance policy recompensates you for this loss. It does not matter where you stay (which location) since home insurance covers only the structure of the house. You can also take a content insurance policy to insure yourself against the loss due to the theft of the possessions in your home.
Following are the major risks covered under a home insurance plan.
There are a number of home insurance products in the market. Choosing the best one among them for cheap price is a challenging job. We have given some tips below that will help you in reducing the home insurance rates.
Insurance comparision tool provides you an opportunity to compare all the home insurance products in the market. Insurance products and thousands of agents in the country which sell similar home insurance policies at different prices. Not all companies are going to fit your wants and circumstance. One company may be Rs. 1000 more than the next and another may be 2000 less. Shopping around can help you to save hundreds. Before buying the policy compare the products of different company.
The land under your house may not have the risk from fire, theft, cyclone, and the other threats covered in your homeowners’ policy. So don't include the land’s value while deciding what are all things should be covered your homeowners’ insurance policy. It you do cover your land it will cost more for you.
If you buy two or more policies from the same company, they will be ready to offer them at comparatively cheaper premium. If you have a vehicle, take the auto and homeowners’ policy from the same insurer this will help you to reduce the premium. But make sure that the combined price is lower than buying the different policies from different compaies.
By making your home more resistant to windstorms and other natural calamities you can reduce the premium of home insurance policy. Find out from your insurance agent what steps you can take to make your home safe from disasters. Modernizing your heating, plumbing and electrical systems will help in reducing the risk of fire and water damage.
Security of your house plays an important role in deciding the premium of your home owner’s policy. You can usually get discounts of at least 5 percent for a smoke detector, robber alarm, etc. These systems are not cheap and not every system qualifies for a discount. Before you buy such a system, find out what your insurer recommends, how much the device would cost and how much you would save on premiums.
Insurance companies offer several kinds of discounts, but they don't all offer the same discount or the same amount for all the people. You may be eligible for several discounts which can lower your home insurance premium. Be confident to ask prospective home insurance agents about discounts for;
Establishing a solid credit history can cut your insurance premiums to a great extend. Insurers are increasingly using credit information to price home insurance policies. That doesn't mean that bad credit always equals bad home insurance rates. But a good credit history will help you in getting the insurance premium reduced.
If you have kept your insurance coverage with a particular company for several years, you may receive a special discount for maintaining a long-term relationship. But compare these premiums periodically with that of other policies.
Don’t take coverage for all the perils that are unlikely to face. It makes no sense to buy insurance to protect yourself against risks you are unlikely to meet; for example, earthquake coverage in a non-earthquake zone, or jewellery floater policy without owning expensive jewellery.