AN OVERVIEW OF THE CUSTOM HOME BUILDING PROCESS
Building a custom home isn’t for the faint hearted. The entire experience can be overwhelming but the journey is definitely worth it. Besides, everyone wants to have a custom home that meets their family’s needs. Before discussing the process of building a custom home, the first thing you need to know is the breakdown of the costs involved in a custom home construction. Pricing Breakdown of Building A Custom HomeHouse Structure Costs These are the costs for building the house including its structure and everything inside the house. The prices vary depending on the area where you live in. House Upgrades Most custom home builders will give you an estimate for the structure that you design. After that, they’ll provide you with a list of the features included and you’ll have to pay extra if you wish to upgrade any of these features. Lot Cost and Lot Preparation Costs This is the cost of the lot where you’ll build your custom home and any closing costs for the land loan settlement in case you buy the land ahead of building. Meanwhile, the lot preparation costs may include but are not limited to the following:
Permit and Development Fees There are permit costs in every state and city. Ask your custom home builder or from your city office what these costs are. Loan Closing Costs If you buy the lot first and get a construction loan after, you need to pay for their closing costs according to your loan program. Loan Interest Costs During The Construction You or your custom home builder need to pay interest on the loan during the construction. Don’t forget to ask your builder about this. Custom Home Building ProcessCreate a plan Before anything else, it’s important to create a plan. As you already know by now, building a custom home can be stressful. If you decide to go into it without a plan, you’ll eventually encounter problems that you’ll have no idea how to deal with. But if you’re prepared, the custom home Myrtle Beach building process will be much smoother. Here are a few things you need to consider:
Be ready to think about all these things and discuss them with your spouse. You’ll be talking about these things many times. Also, your answers to these questions may change as you get to learn more about what you prefer, the availability, as well as your budget. Location Matters The location is one of the most important factors when it comes to building a custom home. You can change anything you want in your house but you can’t change the land where it’s located. Get Pre-approved and Determine Your Budget Can you afford to build a custom home? This is one of the many questions that many people are unsure of. Some may find this question easier to answer than others. Before you start building, you need to know how much you can afford. Get Floorplan Inspiration This is where the fun begins. You can start to check out floor plans while dreaming about your upcoming home. You’ll find a lot of inspiration online. Talk To Your Custom Home BuilderYou can do this in person or through a phone call. Here are a few questions you need to ask.
Find a Realtor and Look For Land While you are talking to custom home builders and getting essential info from them, you should also find a land if you don’t have one yet. Look for a realtor, too. Choose A Custom Home Builder and Sign A ContractIf you like a custom home builder, plan a second meeting along with them and talk about possible costs, floor plan, and etc. Meet with the custom home builder more than once before you sign any contract. Pay close attention to how fast they respond to your emails and calls. Ask yourself if you liked the experience with them during your initial meetings. Find A Loan Program and Choose A Construction Loan If you have not yet bought a lot, you will be able to find a suitable loan program that lets you buy a land and create a construction loan from the beginning. If not, you won’t need to find a construction loan that you could roll your land loan into. Apply for Permits Once you have your loan as well as the final floor plan, your custom home builder will apply for permits. How long it takes to secure the necessary permits will depend on your city or county. Choose Finishes and Upgrades This is one of the best parts in building a custom home but it can also be very stressful. You will choose the materials and upgrades to your house. The process varies from one builder to another. Some builders bring samples while others have design centers. Preconstruction Meeting You will have a meeting with your custom home builder before the project starts. You’ll go over the floorplan, your choices, as well as other upgrades that you want to include. The blueprint will be checked and it’s the perfect time to ask questions or air out any concerns that you may have. Breaking Ground Once the permits have been secured, your custom home builder will break ground. This marks the beginning of your build and the time when they prepare the land and then pour the foundation. Building Your custom home builder and their subcontractors are going to work together to build your custom home. At this time, will would make draws from the construction loan. When this happens, your loan payment and monthly interest cost will increase. You can see your home during the build but you’d have to clarify this with your custom home builder because they may have a different policy. Electrical Placement During the custom home building process, most home builders will ask you to make decisions on lighting placements and electrical outlets. You’ll walk through the house and they will take note where you’d like other outlets to be added. You will also be asked where you want to place phone jacks and cables. Final Walk-Through At the end of the custom home building project, you’ll do one last walk through with your custom home builder. Take note of any changes that need to be made and anything that should be fixed. New Loan or Loan Rollover Depending on the kind of construction loan you get, you may have to have a closing on a new traditional home loan or your loan may roll over into a new one. Final Say The custom home building process may be long and tedious but it’s definitely worth it. There may be a few bumps along the way but it won’t matter once you see your dream home come to life. Call Dawol Homes now and let our team help you build your dream custom home. We’ll be with you from start to finish.Dawol Homes from WordPress https://ift.tt/2ELDMQx via IFTTT via Blogger https://ift.tt/3lt2Uw8 August 29, 2020 at 08:31PM
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AuthorDawol Homes is a premier Custom Home Builder located in Myrtle Beach, SC. Founded in 1996, each year Dawol Homes has grown given its commitment to exceeding Customer Satisfaction. David Wolons, owner and President, moved to the Myrtle Beach area in 1996 from West Boylston, Massachusetts. With many years of experience as a General Contractor, David started Dawol Homes with a desire to build homes with quality and unique features for each and every homeowner. Over the years, the company has expanded to provide more than just custom homes. Among the Dawol Homes offerings are: house/lot packages, plan design, home remodeling, and Commercial construction. Contact
Dawol Homes 9404 Hwy 17 Bypass Murrells Inlet, SC 29576 (843) 294-2859 Email: [email protected] Website: http://www.dawolhomes.com FIND ME ONLINE
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February 2022
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