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7 Steps To Success When Building A Custom Home

 

 

7 Steps To Success When Building A Custom Home

 

Sometimes building a custom home can be intimidating. In today’s home market, most houses consist of a cookie cutter house plan that everyone else within your community has. You may have noticed when driving through that hip new subdivision that the houses all look similar on the outside. Chances are, those houses look nearly identical on the inside as well. So it’s natural for us to be unaware of how the custom home building process works. Since custom homes are just that…custom, every builder’s process is different; however, these seven steps should see you through to achieving success when building your custom home.

Budget – Before you begin wasting your time or a builder’s, you should first determine what your budget would be. Add up your total monthly expenses, aside from housing (since that’s what you’re trying to determine), and whatever money you have leftover to spare from your income is what your budget should be. Once you have your budget, you can then determine what type of custom home you can afford.

Location – Next, figure out where you would like to live. Seems easy, right? Well, remember that there are always several things to consider when choosing a location. How convenient would your location be for shopping, schools, work? Are you near a freeway on-ramp? Is there too much noise pollution? Figure out what schools are in your district, even if you don’t have kids. Having good schools in your district means good property value. What will this area look like in 10 years? Will it be heavily developed? Will it be congested? Will that brook you love so much be a parking lot?

List – Now that you’ve selected your location, you can begin creating a list of builders that build in your specific area. What’s the best way to do this? Search engines can provide great results. For example, if you were looking for custom home builders in Dallas, pull up Google and type in “Custom Home Builders Dallas”. You’ll receive a string of search results that should be relevant to your search. In addition, you can cross check these search results for reviews on Google Places or Yelp. Once you have your list, begin your extensive research. Request information/brochures, peruse their website and even visit some model homes. Try to get a feel for the builders’ price range, the types of custom homes they build, their reputation, and their expertise.

Decide – Once you’ve done your thorough research, it’s time to choose which builder you’d like to go with. Take your time making your final decision.

Choose Your Lot – Next, you will need to choose the lot. This is an important part of the process because certain factors often rely on the lot, and not the other way around. For instance, some home plans will only work with certain types of lots. If you want a single-level ranch style home with a wrap-around porch, you may need a large, flat lot. Some builders like to stagger their single-level and dual-level homes within their communities.

Floor Plan – Now comes the fun part. You need to choose your floor plan. Depending on your builder, you may be given a standard floor plan to begin working with, and you can then have the liberty to change the plans as you see fit for your needs. For instance, you may start out with a standard 3 bedroom, 2 bath plan, and decide that you actually want to add another ½ bathroom. Alternatively, you may create a completely custom plan from scratch (usually this requires the help of an architect).

Negotiate – Negotiate your contract and sign! Of course, always take the proper precautions you would take with any contract. Be sure that the details of the deal are listed explicitly and have a lawyer review the contract. If changes occur in the contract, be sure to ask for an addendum. Carefully review the warranty section of the contract to make sure it’s standard (at bare minimum) and meets your needs.

 

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