Building a custom home is a great journey. But can you afford one? Unlike what others believe, building a custom home isn’t that expensive. Here are some of the common myths about them that you should not believe.
Custom Home Myths Debunked
Custom homes are only for the rich.
Depending on the level of detail, style, and the size, custom homes are not only for the rich. They are offered in a range of prices. People assume that a custom home involves a complicated process that needs lots of money and time, which many people don’t have. Even if you only have a modest budget, building a custom home is still possible. Building a custom home means you make the decisions regarding the materials that need to be used, how big you want your home to be, and what features you want to be included. A good custom home builder can assist you in finding the best floor plan for your lifestyle and budget.
Building a custom home takes longer than constructing a spec home.
A custom home construction doesn’t have to take longer building a production or spec home. The time it takes to complete a custom house can increase if you need to make many decisions. The faster you can make decisions, the faster the process will be. The material used can also affect the time needed to build your custom home.
The price of your custom home includes the lot.
In most instances, the price of your custom home Myrtle Beach doesn’t include the cost of the lot. If you are building a custom home, you most likely have a special lot in your mind where you would like to build your home. If you don’t have a land for your custom home yet, you should consult your custom home builder to help you look for a lot that can help you build your dream home.
Financing a custom home is the same as financing a production or spec home.
As mentioned above, you own the land or lot where you will build your house. That means you will be the one who will be responsible for financing your custom home. You will most likely require a construction loan if you want to get your home built. These loans are not like mortgages. They are only temporary and would eventually change into a typical mortgage once your custom home has been completed.
Throughout the construction period, your custom home builder can make draws from your loan at specific intervals of your project. This kind of loan could be more difficult to get since it’s for a house that doesn’t not yet exist and might take a lot longer to be approved since a lender will need details regarding your custom home project. You should talk to your custom home builder regarding the financing options available for your building needs.
You need to know about the architecture or design to build a custom home.
You don’t have to worry yourself about the architecture and design to purchase custom home. You have your custom home builder for that purpose.
Call Dawol Homes now and let our expert home builders help you build the home of your dreams.