Many homeowners don’t recognize all of the steps necessary and the time involved in preparing to build a custom home. At HomeSource Custom Homes, we understand that the custom home building process is a marathon, not a sprint, requiring many steps along the way. Here are some tips that may help you be ready to achieve your goal of owning a one-of-a-kind home.
Simple enough, but small savings made regularly over time adds up. Take the time now to save money while you’re in the early stages of the process of thinking about building a custom home. If you come into unexpected cash, don’t rush to pay down low-interest debt. Cash on hand makes you a more attractive borrower.
Buy Land or Custom Home Site
Finding a separate parcel of land or a home site in a custom build community is one of the major challenges facing a custom home buyer. It is also critical in order for you to set your overall budget. This process can be difficult so start now while you have the time. HomeSource can assist our customers by sharing our knowledge of available building sites or refer you to a trusted realtor specializing in land sales to help guide you.
Watch Mortgage Rates
With rates at all-time lows, in our opinion there’s never been a better time to build a home. We recommend keeping a watchful eye on interest rates and be ready to act if rates start increasing, which typically are sign of economic recovery.
Prepare Your Existing Home for Sale
Make the effort now to make your home more desirable and obtain maximum value when you decide to list it for sale. Start the improvements – newly painted rooms, minor repairs, decluttering (have a garage sale). Put together a to do list and stagger the projects so you don’t use up a lot of your cash reserves at one time.
Find a Builder
Contact custom builders now and arrange to meet them in person. You will be able to determine early in the process if you’re comfortable with the builder and their custom build process. At HomeSource, you’ll discover that we develop relationships with our customers before they are customers. We understand the importance of a patient, thorough approach developed over time. Visit our showcase display home in Arnold to learn about why we have been building custom homes for over 35 years.
Design Your Home
Browse on site plan libraries. Tour display homes in a tract home subdivision. Look for ideas at houzz.com. Review the hundreds of plans at our office. Or better yet, take the Woman-Centric quiz on our web site, which will identify you as a particular profile based upon how you want to live in your home. We can then recommend designs that match with your preferred design elements, making your floor plan choice easier.
Plan Out Your Timeline
After you’ve found your builder, learn about the overall time frame involved to prepare for and go through the custom home building process. Customer are many time unware of the time it takes to design a plan, price it out, have blue prints drawn, make material and color selections, apply for and obtain a building permit.
Determine Your Involvement
HomeSource can build your custom home to completion under our ‘turnkey” program just like other builders, where we supervise the construction from start to finish. However, our exclusive Build Custom for Less allows you to manage the completion of interior and exterior finishes, providing savings of 10 – 30% compared to conventional custom building. Contact us to learn more.