Discover expert advice for building your dream home in Dallas. Learn essential tips, tricks, and guidance for a successful home construction project.
The simplest answer to the question “How to find your dream home in Dallas” is to simply build it. In 2023, the Dallas–Fort Worth metropolitan area was the country’s second most popular location for new home construction.1 This makes perfect sense when you consider the relatively low cost of land in the Dallas area compared to other parts of the country –– and the fact that DFW is currently the fastest-growing metro in the country, according to the U.S. Census.2
This increase in popularity means there’s an abundance of resources for those thinking about building a home in Dallas. To help you navigate the process, we’ve compiled some of the most valuable insights and tips. Read on for everything you need to know about building a home in Dallas!
It’s clear that Dallas is growing and growing fast. But what’s behind all this growth? At the heart of it lies a strong economy and solid real estate market. Currently, Dallas–Fort Worth is home to two dozen Fortune 500 companies (only New York and Chicago have more), a driving force behind the metro’s ascent from heartland heavyweight to a presence in the global economy.3
d to a population boom, which has inspired a surge in both commercial and residential development. All this means that, in spite of the heightened demand, there’s no shortage of home builders. However, this demand has contributed to relatively high labor and material costs, making it more expensive to build a home in Dallas than in many other parts of the country.
As Dallas’ economy and population each continue to grow, existing homeowners and aspiring builders can expect their properties to increase in value in the near future, making Dallas real estate –– either a new build or an already standing structure –– a sound investment. (Even if the up-front costs may be a bit higher.)
Picking the right location is one of the most critical aspects of building a home in Dallas. And given the city’s diverse collection of neighborhoods — each with its own unique charm –– it might take a fair amount of research to find the right place for you.
If you’re building a home to accommodate your growing family, the Timberbrook neighborhood is home to great schools and plenty of green space for family picnics and fresh-air playdates. The Design District, on the other hand, caters to younger residents looking for a constant stream of entertainment and proximity to the bustling Downtown. Want the best of both worlds? Consider Campbell Green: a relatively affordable pocket of Dallas with excellent schools and a mix of city life and suburban serenity.
Proper planning is also essential to building a home in Dallas. Finding the best contractor for your new home construction could take weeks alone, and this doesn't even include the time it will take to find the perfect place with your real estate agent or sourcing the proper building materials. We’ve found this undertaking is made easier by breaking the planning and preparation process into three key stages.
Budgeting will be the bedrock of your new home build. It determines whether you can go fully custom or design a home from spec –– meaning you customize only certain elements of the home. It impacts the overall footprint of your property. And it may even be the deciding factor in whether you build in Dallas–Fort Worth or a neighboring area. Your budget will be your north star as you navigate the building process, so the more time you take to create a comprehensive one, the smoother your journey will be. Discover more tips on how to budget for a house build.
Your budget will allow you to go confidently into the design process. Unless you’re an architect or a skilled artist, this will mean partnering with a design-build company. The Dallas area is home to hundreds of skilled design-build firms. Some cater more toward luxury dwellings, while others specialize in cozy cottages. Once you’ve found the right type of builder, collaborate with them on a design that reflects your vision while remaining within your budget. Take this time to think about the life you want to live in your home: your entertainment needs, the space needed for your family, and the amenities you’ve always dreamt of. Now’s the time to make those dreams come true.
With a clear budget and even clearer blueprints in hand, you can begin looking for a plot of land to house your home. According to RE/MAX, the median lot size for a newly built single-family home is one-fifth of an acre. This might not seem like much, but this translates to roughly 8,500 square feet.4 You can shop for a lot on sites like Zillow or more specific platforms such as LandSearch –– but depending on your design-build team, they might have a specific plot already secured for you.
Assembling the right team can make or break your homebuilding process. Fortunately, you won’t likely be tasked with pulling together every individual player, as many Dallas design-build firms have their own teams of architects, drafting artists, and contractors. But you will have to vet these firms to be sure they’re the perfect fit.
As you search, it’s easy to be swayed by polished websites and stunning photography. But while these variables should inform your decision to an extent, the most valuable information will come from social proof: reviews from real people who have already done what you’re dreaming of doing.
Seek recommendations from friends or family in the Dallas area, or assemble a short list of firms and cross reference their online reviews. You can even interview some of your top candidates, taking note of how they respond to your questions and address your concerns. This will give you an idea of how they might be to work with over the six-plus months it takes to bring your dream home to life.
If there is any place you might want to bring in outside team members, it’s hiring a construction project manager. These professionals can do wonders to keep your project on track (and on budget). With that said, general contractors at many Dallas design-build firms can often accomplish the same goal without having to hire outside talent.
Dallas is home to a diverse architectural landscape, with styles ranging from modern and contemporary to traditional and Mediterranean –– and just about everything in between. Before you begin designing your dream home, research the city’s many prominent architectural styles to see which best aligns with your interests. Consider also popular design trends: open floor plans, floor-to-ceiling windows, and indoor-outdoor living spaces.
Given the city’s recent struggles with its electrical grid, however, designing in Dallas will also require you to consider energy-efficient practices. This will not only save you money now and well into the future, but it will also decrease your reliance on a strained electrical grid when demand is at its highest.
Solar panels are a valuable addition in the sun-soaked city, as are strategically placed insulated windows that let light and warmth in when needed but keep heat out (and cooling bills low.) Smart-home technology like a remote-access thermostat and auto-off lighting can also aid in your sustainable design, helping you build the house of your dreams and the house of the future.
When you buy a pre-built home, you’re often years or decades removed from its initial construction. But when you decide to build, you’re swept up in every detail, line item, and expense. Understanding these costs before you begin the process of building a home in Dallas can give you an idea of what to expect. According to Homelight, the average costs of building a home are below:
These costs can vary dramatically (fixtures and final touches, especially, demonstrating the value of having a thorough budget before you go into the design and building process.5 But what about paying for these costs? This part will also look a bit different than simply buying a home. Instead of a traditional mortgage, you’ll need a construction-to-permanent loan –– which finances the construction process for a set period before converting to a mortgage.
With so many moving parts, homebuilding projects often encounter challenges like construction delays, budget overruns, and last-minute changes. The best way to navigate these sticking points is to keep in constant communication with your team. But it can also make a world of difference to anticipate these obstacles –– as well as how you’ll overcome them.
Developing a contingency plan and backup budget in addition to your original set of plans can help you and your team address unforeseen issues without compromising the overall timeline or the quality of your build. If things go sideways, your contingency plan will save the day.
We’ve gone through the costs, the steps, the challenges and the ways around them. But how long will building a home in Dallas take? As is the case in most parts of the country, building a house in Dallas will generally range from six to 12 months –– depending on the complexity of your project, the competence of your team, and the compliance of the sometimes-finicky Texas weather.6
As the construction project nears completion and you focus on final touches like landscaping, interior finishes, and quality inspections, begin conducting thorough walkthroughs with your builder. Compare the finished product to your goals from the outset to ensure all aspects of the home meet your expectations, giving your builder the chance to address any final concerns before closing on your home and moving in.
Building a home is an exciting process. And in a hot housing market like Dallas, it may be the only way to get exactly what you’re looking for. But it’s also a process with many complicated steps, making it all the more important that you not only successfully prepare for this undertaking but have a backup plan in the case of any hiccups.
This is just one area where Truehold’s sale-leaseback can be a homebuilder’s best friend. When you sell your home to Truehold, you can access your home equity to build your dream home. But instead of moving out and scrambling to find temporary housing while you build your home, you can continue living in your existing space as a renter. No awkward waiting periods or mad dashes to sell your existing home once your new home is done. Just a transition on your timeline, with the help of Truehold.
To learn more about a Dallas sale-leaseback and how it fits into your homebuilding journey, connect with one of our trusted advisors today.
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