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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When To Hire A Custom Home Builder

custom home builderThe best time to hire a custom home builder is during the early phase of the design process so that they can assist you in monitoring and controlling the cost of the material. Discuss if the custom home builder wants to be paid up front and his preferred payment method. You should also trust your builder to obtain multiple bids from subcontractors as well as suppliers instead of bidding the project to different builders. A custom home will require you to work to a budget so that you can get the full value of it. Custom homes are unique and that means it will be a good idea to have a builder and designer work together on the project so they can both make full use of each other’s experience and knowledge.

Finding A Custom Home Builder

In case you have already hired an expert designer, he or she can help you search for the best custom home builder. Your designer will most likely have existing relationships with builders as well as first hand experience with their communication skills, business practices, and construction quality. Your other resources include local lenders, reputable realtors, Internet searches, as well as your local chapter of the National Association of Home Builders.

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What You Need To Know Before Having A Custom Home Built

Myrtle Beach custom homeHaving a custom home built is a dream come true for many. However, if it lacks proper planning and research, it can easily become any homeowner’s worst nightmare. With nearly limitless options to choose from, it is very easy to see your budget get out of hand.

Dawol Homes have helped several clients in building their dream custom home and in creating a strategic budgeting plan to make sure they are prepared throughout the construction process. Provided below are a few key guidelines that can help make sure that you do not wind up in over your head.

Who Builds Your Home Matters

Having a custom home constructed is a significant financial and emotional investment. Therefore, it is important to choose a custom home builder that you can trust. Do not just agree to work with the first charming person that you come across with. Choose an honest and transparent builder because he can help you save money. In case you cannot start candid conversations from the beginning about the markups, budget, or subcontractors then you may just have to continue looking for a better fit.

Set A Budget, Know The Scope Of The Work

The more detailed the budget and the plan, the easier it will be for you and your custom home builder to prevent any unexpected expenses. Set an allowance for fixtures. Choose where to purchase the materials and determine the expenses that are not included in the scope of the contract. These are crucial points to talk about because they can significantly change the bottom line for the construction of your home.

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The Essentials Of Home Construction Loans

Myrtle Beach custom homeHaving your dream home built is an exciting experience but your enthusiasm can be tempered easily with the unfamiliarity and intricacy of mortgage loans for a new home construction. Understand the fundamentals of home construction loans and be prepared when the time comes that you have to decide if you want to build your custom home.

2 Types Of Home Construction Loans

Home construction loans are available in two types:

Construction-To-Permanent – You borrow cash to cover the construction costs. Once you move in, the lender will change the loan balance into a permanent mortgage, making it two loans in one.

Stand-Alone-Construction – the first loan you will get is going to be for the construction costs. Once you move in, you will obtain a mortgage to pay for your construction debt. Unlike the first type, this is two different loans.

Construction-To-Permanent Loans

You will have lesser fees to pay because you just have a single closing with a construction-to-permanent loan. In the construction period, you will only focus on the outstanding balance. The interest rate is changing during the construction phase, which means it could move up or down based on the prime rate. In case the Federal Reserve decreases or increases short term interest rates while your house is being constructed, you can expect your interest rate to change.

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The Best Time For Custom Home Building

myrtle beach buildersWinter is just around the corner and once that is done, spring comes next. It is the season that brings warmer weather as well as new life. But for other people, spring is much more than that. It is also the best time to begin the construction of a new home. Basically, it is the ideal season for completing building constructions faster without having to deal with several delay so you can move in to your new home sooner. If you are planning to build a custom home, listed below are some of the reasons why spring is the best time to begin.

More Daylight

When the summer solstice hits in mid to the later part of June, we begin moving back to winter. What that implies for your home building project schedule is that nighttime slowly falls much sooner as the day gets much shorter. By beginning the project during spring, your team of custom home builders can make the most of their time thanks to more sunlight during the day. However, it’s not only more sunlight that can help you finish your new home on time.

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How To Prepare For Your Model Home Visit

model homes Myrtle BeachSo, you have finally decided to purchase a new house and you are thinking that it is the right time to book a model home visit. Although it might seem as simple as getting into the car and driving straight to your closest new home community, it is an essential aspect of the process that needs a lot of consideration. Before you take that drive to the model homes Myrtle Beach, here are four tips to help you better prepare for your visit.

Begin With A Checklist Of The Things You Want In Your New Home

In case you still don’t have any idea what you want, you will most likely have to visit dozens of model homes first before you could find the best one that really speaks to you. To make things easier, it is highly recommended that you create a checklist for yourself first.

List down important things like the kind of location or commute you are looking for. Do you have a preferred school district? Are there certain community amenities that could make or break the deal for you? Do you have any desired architectural style? Which options or upgrades do you classify as wants or must-haves?

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