Are you thinking of building a custom home of your own? Kickstart your planning with these 5 tips for new home building.
1) Learn the Basics of Local Building
You don’t need to become an expert on gable roof framing or the finer points of septic trenches, but you will want to learn about local building codes, zoning laws, and regulations that affect your building plan. Your home needs to comply with these requirements before your local housing department issues a Certificate of Occupancy allowing you to move in.
2) Picking the Right Builder is Crucial
Ordinarily, choosing a builder is the first step in building a home. So how do you find the right one? Research, research, and more research. Look at contractor review sites, social media commentary, and customer referrals. Get word-of-mouth opinions from friends, family, and co-workers. Tour some of the builder’s model homes. The more informed you are at the start, the lower the chances of headaches later.
3) The Budget May be Bigger Than Expected
The builder’s initial budget usually includes builder-grade flooring, lighting, plumbing fixtures, countertops, and more. But you’ll likely want higher-grade materials in your forever home, which can cost you. Here, comparison shopping is important, as prices for elements such as hardwood floors and casement windows vary by vendor.
4) Delays Happen – Plan Accordingly
The old phrase “expect the unexpected” might be a good mantra throughout the home-building process. Weather issues, supply issues, workforce issues… anything is possible. These delays can affect your renting situation while your home is under construction, and remember mortgage rates can shift during the delay period. Avoid fluctuating rates by locking in a long-term interest rate at the start of construction with the First United Bank Mortgage One Time Close Construction loan.
5) You’re Planning for the Future You
Which could be very different from you today. Think about how your needs may change over time. Will there be enough bedroom space if your family expands with children? And a bigger family means more energy use, making energy-efficient appliances and HVAC systems key. Consider the storage space you need now and the space you may need for what you accumulate over the next 20 or 30 years.
If you’re ready to talk logistics and financing of building a home, the loan experts at the Decker Group at First United are here to help with loans designed for new home construction. Contact us online or call us at (972) 591-3097.