You have owned a used home, maybe built a "new home" with one of those cookie cutter production builders, but now you have decided to build YOUR home. One of the main complaints that people have with the tract built home is that the builder says "NO!", or this "Series" of home does not allow for that kind of feature. Where is the fun in that! You are investing your hard earned money and you want it to be YOUR house, not Big Builder, Inc's home.
But how do you start, what do you do?
Step #1 - Decide on a budget.
How do you do that? Think about how you need to right size your home - do you need less space since the kids have left, do you need more space since you are having kids (or the kids are coming back!), what do you want your monthly investment to be on your new home. Meet with a mortgage professional who understands new home construction lending to help you set your initial budget.
Step #2 - Decide on a builder
There are many things to consider but make sure the builder you choose is a full service, design and custom builder. Questions you will want to ask: What are your warranties? How do you inspect your home? How energy effiecient are your homes? How flexible are you in designing MY house?
Step #3 - Put together your lists
Sit down and put together 2 lists. One list is your "Gotta Have" list that has the things that you absolutely have to have (3 bedrooms, covered back patio, etc). The second list is your "Want to have" list that are all of the things you dream about (safe compartment behind a bookshelf, outdoor fireplace with pizza oven, etc). Your budget will help make sure you accomplish your "Gotta Haves" and open the door to select the most important "Want to Haves"
Step #4 - Pick out the property
Knowing your budget and the costs associated with your home will help you set your sites on exactly what kind of land you want and how much you want to build. Most reputable builders can also help you with suggestions on where to start your search.
Step #5 - Make sure you have fun
Remember you are building YOUR home so make sure you enjoy the process!
