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.