Exploring Real Estate Market Trends

Considering Building A Custom Home? 3 Initial Steps To Take

From living where you want to having the home you love, custom new home construction is a great option for many people. Unfortunately, the process of building a custom home is not simple, especially when compared to buying a home already completed and for sale on the market. Thankfully, help is available. If you are considering building a custom home, here are a few initial steps to take.

Design a Budget

One of the most crucial steps to take is designing a budget to determine if you can afford to build a custom home, and contacting a lender is your best option.

Work with a lender that specializes in mortgages or contact your personal bank to start the prequalification process. By looking at your income, debt, and credit, the lender will be able to determine how much home you can afford to buy. This will tell you about what you should spend when building your home, so you can choose floorplans, lots, and builders who can build a home within your budget.

Find a Builder

Once you have a budget in mind and a prequalification in hand, you can start the process of finding a builder. There are many ways to find a builder, though.

If you have a neighborhood in mind, certain builders may already own the lots. Reach out to the HOA or contact agents who are advertising the lots that are available for sale.

Another option to consider when searching for a builder is to reach out to specific architect firms. Many architects who offer a variety of floorplans will have specific builders who are ready to build in specific areas. In addition, these builders will have the experience building their floorplans, which can make the building process less time-consuming and stressful.

Choose a Floor Plan

With a budget and builder ready, you can start the process of finding and customizing a floor plan. Remember to not only consider a floor plan that would suit your current needs but also your future needs.

Even though you may think a few bedrooms will be sufficient, an extra bedroom can be useful in the future for either another child or a parent who will need to move in with you later in the future. An extra bedroom can also be used as storage or as a home office.

With the basic floor plan prepared, you and a builder like Charvold Homes & Properties can make changes before sending it to the architect for its final design.