Find Your Property
Finding the land you are going to build your home on can be one monumental step. Not only will you need to find out if the parcel is eligible for a building permit, any applicable taxes and what the parcel is zoned for, but you will also have to get it for a price that fits your budget.
Finding The Money
The traditional way to pay for the construction of your home is through a construction loan with a bank or credit union. You can have any number of modifications installed, or eliminated from the plan, to change the price your home will cost you. You need to have house plans drawn up to estimate the price of the final product. Your money lender will always want to see the home plans before lending you any money.
Architects Are Vital
From California to New York to Arkansas, home plans include foundation, framing, siding, plumbing and electrical details, and can range from as little as $600, to as much as several thousand. It is always best to screen at least three applicants before you hire any professional and architects are no different. Then take these plans and prices to your lender, and see what they will offer you in terms of financing.
Be Flexible
Building a custom home is no simple task. Factors that may effect the rate at which your home is constructed can range from weather to labor disputes so be pro-active if they pop up. You need to be flexible and patient, and know that in order to have your dream home built, it will take time.
Even though it may be a frustrating process at points, it is always a very rewarding on in the end. Nothing in life gets done when you quit, so focus on persevering until you accomplish your goal and complete the project. Failing to finish a project like building a home, on time, can cost you thousands in fees and penalties so plan ahead.
Of course, this is just a general outline. As with many other things in life, educating yourself is crucial, so plan on spending all of your extra hours reading, interviewing and learning about the entire construction process.
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