5 Questions to Ask Yourself Before Starting the New Construction Process
If you’re thinking of building your dream home, it’s important to know there’s a lot to consider before beginning. The Enclave Team has represented many clients who have built custom homes, or purchased brand new homes, and we work closely with area builders to design and sell custom builds – so we know a thing or two about the process and we want to share a little bit about what we’ve learned with you.
If you’re thinking of building, here are five things to consider before getting started:
What is my budget? The cost of a new home can fluctuate greatly, and you can influence the price by the choices you make. It’s important to think about what you definitely want in your home and what can be saved for a future wish list. Some things to consider that can change a budget for better or worse include: home and room sizes, countertops, appliances, flooring, cabinet material, fixtures, carpet, among other items. Knowing what items you want to be higher end or that can wait until later will help you in planning.
How soon do I want to move? Are you looking to move in to a home sooner than later or are you flexible? Building a home takes time. If you have a home to sell, that can affect timing as well. If you’re starting from scratch, the process can take a year or more depending on where you live, when building begins, and what you’re hoping to include in the plans. If you’d like to move in a matter of months, there’s the option to buy a model home or one that’s already in progress, but building a new home from the ground up doesn’t happen overnight or in a few short months typically.
How does my lifestyle influence my home plans? If you’re building a custom home, it’s important to factor in how your lifestyle can impact floor planning and overall design. Do you use a formal dining room? Do you need a private yard? Do you entertain frequently? Do you need guest rooms? Questions like these are important to think through and answer when drafting plans for your home.
What will financing look like? What is your plan to finance a newly built home? Meeting with a lender can help you determine next steps. If you have a home to sell, they will walk you through whether you need to sell before you can finance a brand new home. You’ll also need to consider who will finance the construction, you or the builder? Coming to a lender and builder with a list of questions like these is a good idea.
Who should I work with? As you start the building process, you’ll make choices about who you want to work with to get the job done. One of your first decisions will be choosing an experienced real estate agent to help you through the process. You’ll find their opinions and assistance to be helpful when interviewing potential builders. After interviewing builders with your agent, you’ll choose the right builder for the job, and the process can begin!
Want to learn more about new construction? Get in touch with us using the “Contact Us” link, or call 507-287-7755!