House Construction 101: Financial Mistakes To Avoid

custom home builderIf you’ve bought your home from someone else, you might have thought about what was running through the builders head. While some people go for a run-of-the-mill design, others want to have custom homes. And it’s obvious why. Some homeowners want to make a home that will stand out or simply function and look the way they want them to. If you’re planning on building your custom home, you might want to consider a lot of things. Of course, this includes going over the common financial mistakes that homeowners make. Here are some that you should avoid:

 
Not having all the details ready for your custom home

 
Although designing a home might seem relatively easy, it actually isn’t. There are a lot of things that work together to build a house exactly as planned. Deciding on what tile color and design is a small yet important factor. These are just examples of the tiny details that when accumulated, comes together harmoniously to create your dream home. Before you give your custom home builder the go signal, make sure all details big and small have been dealt with accordingly.

 
Hiring the wrong people for the job

 
This goes without saying, but it is essential that you give enough time to search for a contractor that can deliver. Be sure to look into the past projects of the contractor, asking for references and past customers to ensure that you are dealing with the right people.

 
Building too big

 
While having a big home sounds like a good idea, it does not apply to everyone. Think long-term. Don’t just think about building a home that you would just resell in the next 5 years. Think hard and long about your investment. After all, building a home takes a lot of money to complete. You wouldn’t want to spend your money on something that wouldn’t generate income or on something that you won’t be able to fully utilize.

 
Not considering the resale value

 
Even if it hasn’t crossed your mind to sell your home, you should always think about its resell value. It’s just one fact of life. You might have a change of heart 10 or 15 years from now. You should always make some considerations in case that time comes. The right build will earn you a home that has high resell value. Don’t overlook the resale value and just think that you are going to live in the same house for the rest of your life.

 
Having a dangerously high mortgage

 
If you want to build a custom home or remodel a new one, you might want to keep your mortgage low. Don’t go crazy with your build as you could have some financial trouble later on. Opting for functional yet aesthetically pleasing work best. Although there are some compromises every now and then, the benefits it will entail will always be more important.

 
Being absent while the build is ongoing

 
Even if you have all the confidence on your custom home builder Myrtle Beach, you should always be able to check in on the progress of the build. Although it would be nice to just wait until the project is over, nothing ever goes as planned. There will be some minor changes that would need your approval. Being there to check will avoid any unnecessary surprises when the build is done.

 
Not being realistic about the build

 
We all want to build our dream home. However, not all of us can afford to build a huge house with top of the line amenities. Keeping the details of the project as realistic as possible help a lot in terms of realizing the build and setting of expectations.

 
Looking for a reputable home builder in Myrtle Beach? Call Dawol Homes today!

 
Dawol Homes
3100 Dick Pond Rd # E
Myrtle Beach, SC 29588
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

 

Custom Home Building Tips: Common Mistakes To Avoid

custom homeIt’s not such a big deal to make mistakes on some other parts of your home. However, when it comes to making a custom homes Myrtle Beach design, mistakes are not so forgivable. The point is that once your design gets constructed, it won’t be so easy to tear it down and start from scratch. That’s why it is so important to avoid the common mistakes that a lot of homeowners have faced. Here are some of them that you could steer clear of:

 
Picking a location that isn’t a good fit for your lifestyle

 
Regardless of the view on your property, you shouldn’t be too quick to make the purchase and build your home on it. You should consider things like accessibility to facilities like schools, malls, gas stations, and other essential places that will provide the needs of you and your family. Do your research beforehand to ensure that you get the right place to build your home.

 
Opting for the no-frills basic design

 
While a basic design isn’t much of a bad thing, it shouldn’t be your only option. Homeowners should always look for different options when building custom homes. As always, doing your research ahead of time will save you a lot of money and regret later on. You can talk to your architect for all the possible options for your home.

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Choosing The Right Building Plan For Your Custom Home

custom home builderIf you are building a custom home, you need plans that will guide you through the building project. Listed below are a few tips from expert custom home builders to assist you in choosing the most suitable building plans for your needs.

 

Create A List of Needs – talk to your family and have a discussion over what you all want. Identify your current needs and what your needs will be over time. Write all of them down.

 

Observe – Take the time to observe your current lifestyle. You should also identify where you spend most of your time in your apartment or home.

 

Reflect – you should also reflect on the properties that you have visited. What features did you like most? You should also take a look at the lifestyle of other people. Is that how you want to live?

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Who Should Be On Your Custom Home Building Team?

custom home builderBuilding your custom home is a dream come true. It is an exciting yet extremely detailed process that is made of several phases, each of which takes place in a well-planned sequence. Building your new house takes a team of highly trained professionals that focus on your needs. A trade contractor will finish a step in building your house and then pass the project on to the next contractor, all under the supervision and direction of theconstruction superintendent, hired by your custom home builder. He will take care of these handoffs, make sure that the work done is high quality, and ensure that everyone involved stick to the schedule. The primary members of this team will work together and you. They will take care of your custom home building project every step of the way.

The Developer

The custom home building process begins with the land. Developers are always trying to find available land that is perfect for a new home neighborhood. That could be an open field, mountainous area, or wooden land with scenic views. A developer could invest years and a massive amount of money to acquire parcels of land, which he or she will assemble into a large site where a new home community will be built. The developer will be responsible for preparing the area for construction. In several cases, the first step includes entitlements. The site may also require rezoning if it will be used for a single family or multifamily home. The developer will also have the site graded for correct drainage as well as erosion control and the installation of roads as well as underground infrastructure.

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Is It Possible To Build Your Dream Home?

custom homeYour home is where you eat, sleep, relax, have fun, and even work at times. It is a special place where you and your family make memories together. It is a place that is at the core of your everyday life, and that means you have to make sure that it is everything you have ever dreamed it would be. Purchasing an already existing home is a common practice. However, it is not easy to find a property that is has all the elements that you want to have in your home. But, if you can build your home from scratch, you will have the chance to create the perfect place for you and your family. If you work with a custom home builder who can bring your vision into reality, you are provided the singular chance to make your dream custom home.

You surely have your own reservations about this idea. Resources, Time, and budget are only a few of the worries that can prevent you from building your dream home. It might even leave you wondering if building one is possible! Dawol Homes can give you an answer, and that is a YES!

Choosing The Best Custom Home Builder

The first thing you need to do when building your dream home is to choose the best custom home builder to work with. Are you looking for a North Myrtle Beach custom home builder? Dawol Homes is an industry leader that has a superb track record when it comes to building custom homes.

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Planning A House With A Mother In Law Suite

custom home builderHow do you find the best plan? How can you find the perfect plan for you? Provided below are some tips to help you get started in finding the perfect plan for a custom home with a mother in law suite.

Will A Tract Home Builder Add A Mother In Law Suite?

You might be wondering what a tract home builder is. These professionals build neighborhoods that are filled with houses in your area. A few of them are national firms while others are more local to simply a state or maybe two. They are also known as mainstream builders or cookie cutter builders.

The issue with basic plans made by tract home builders is that many of them do not include in law suites. The majority of them commonly have two master suites and they think that they are enough. So what will you do if the tiny bedroom on the main level just won’t cut it?

You can ask the tract home builder if you can add a mother in law suite. Do not be scared to ask and you will be surprised how some builders who are set on just building specific plans, do not really mind if you want to make additions to the plan. They just need the base house plan to be one of their own.

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10 Red Flags When Hiring A Custom Home Builder

custom home builderWhen you are looking for a custom home builder to help you build your dream house, there are some important characteristics that you need to be looking for. However, apart from searching for the best traits, there are 10 red flags that you also need to watch out for.

  1. The custom home builder asks for a sizable initial deposits or down payments before they start working on your custom home.
  2. The custom home builder does not provide any written contract. In case they do, what they present is a poorly written one.
  3. The builder offers a price that is seems too good to be true. In most cases, the state price is way lower compared to the other bids you have received.
  4. The builder cannot provide a clear work history.
  5. The Myrtle Beach custom home builder cannot or will not give a complete estimate.
  6. The builder depends mostly on allowances for their final bid.
  7. They use high pressure sales strategies.
  8. There exist several unresolved claims from the Contractor’s Board.
  9. The builder cannot provide proof that he or she has insurance.
  10. The custom home builder says your house, once built, will be used as part of their marketing strategies, and that is why you will be provided with a low rate.
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Fulfill Your Dream With A Custom Home

custom homeHave you always wanted to have a home with a large entertainment area, game room, or perhaps a dance studio? If yes, then a custom home might just be what you need to fulfill that dream.

Purchasing a home is an essential part of the American Dream and it is one of the biggest investments you will make in your life. But the whole experience is made much exceptional if you can a build a house that meets your specification. However, before you start making decisions about your dream home, the first thing you have to do is learn everything about how a custom home building works.

Get Your Finances Ready

Constructing a custom home does not have to be costlier than purchasing an existing or newly built house. With the help of Dawol Homes, you can build a modest custom home, however, getting all the construction materials individually instead of in bulk can increase the price dramatically compared to production houses. The crucial thing you need to remember is that the decisions you make regarding the land you wish to purchase, the quality as well as the design will all make an impact on the total price.

You need a construction loan when it comes to financing a custom home and this type of loan is offered only by a few lenders. If you don’t own a land yet, you need to should the cost of buying the land and the construction of the house. In most cases, you are going to have two closings, and each of these will bring upon settlement fees.

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12 Questions To Ask When Hiring A Custom Home Builder

Myrtle Beach custom home builderWhen interviewing potential custom home builders, there are twelve questions you need to ask. The answers they provide will help you determine their communication style, their eagerness to be involved in the process, and their understanding of your project.

Questions You Have To Ask

  1. Can you work with my designer during the designing phase to make sure that we are building a home that meets the set budget?
  2. What methods and strategies do you plan to use to know the actual cost of the custom home?
  3. How do you want to be compensated for the services you render during the preconstruction phase?
  4. Is the quality and style of the house we want to have within your comfort zone?
  5. Who will manage the construction of the house and how frequently will the custom home building be supervised directly?
  6. Can I meet the project superintendent or the project manager who will sit on top of the project daily?
  7. How do you plan to address any concerns or inquiries during the construction process?
  8. How competent are the subcontractors who will be working on my custom home building project?
  9. In case there are alterations or adjustments on the design or any unexpected circumstances that will lead to additional cost, what methods will you use to inform the designer or the owner?
  10. How long do you need to complete this project?
  11. How will you be paid for your work?
  12. How will you service the warranty once the construction of my custom home is complete?
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Why Custom Homes Are More Affordable Than Non-Custom

custom home builderThere are many misconceptions when it comes to the cost of custom homes. Many people believe that having one built will cost them a fortune. The truth is, constructing your dream custom home does not need to be a budget killer.

There are three kinds of home builders. The quality of work, prices, and customizability depend on these three groups. You need to know the differences in home builders and you will understand why custom homes do not necessarily mean they cost more.

National Production Builders

There are several different national production builders. If there is one thing that you need to know about this type of builder is that they are not in the home business. They are actually operating in the land business. They purchase land from farmers and other low cost opportunities and once they made the purchase, they will proceed to developing the land. They depend on the economies of scale to significantly reduce the cost per lot. Basically, they adhere to a very similar blueprint for each home (in terms of labor and materials) so the whole operation can be performed as cheaply and efficiently as possible. The houses are built in bulk and they prefer residential locations that are attractive to home buyers.

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