Building a home can be an overwhelming and exciting experience, but for your builder, it’s an everyday job. You’ll need to be an active participant in the building process, and there are a lot of decisions to be made in order to ensure that you end up with the home you want (and can afford). Below are five things to consider before and during the building of Lewes DE New Homes.
Your Budget
Before you begin the home building process, you should determine how much home you can afford. Most home plans have a building cost tool that can give you a good estimate of construction costs, which are typically based on location. The number includes construction costs, tax benefits, down payment funds, and other costs.
Once you have a budget in mind, it’s time to buy your house plans and arrange financing. Remember that home construction lenders operate a bit differently than conventional mortgage lenders; you will need a construction line of credit to pay suppliers and subcontractors. Once your house is built, you can get a mortgage to pay off the line of credit.
Your Builder’s Reputation
There are many home builders to choose from, and all aren’t created equal. Before selecting Business Name Lewes DE, you should do some research online, or get recommendations from friends and family. Find out whether the builder you choose is known for doing quality work and being on time; if possible, go with a builder that’s a member of the NAHB (National Association of Home Builders).
Resale Value
It doesn’t matter how much you like the home you’re building–things change, and it may not be the last home you ever own. With that in mind, you should build with an eye on resale value. Don’t add so many fancy upgrades that your home is overpriced for the neighborhood, and don’t go too wild with features that may not appeal to others.
The Punch List
When in the final stages of home building, you should make and review your punch list. This list shows what still needs to be done and/or repaired on your new construction; you and your home builder will put this list together before closing, when you have your final walkthrough. Every time you visit the jobsite or do a visual inspection, you should take notes for the list.
