Top 5 Benefits Of Building A Custom Home

custom homeIf you are a homebuyer, one of the most important decisions you need to make is determining if you want to purchase an existing house or have a custom home built. Others will tell you that it’s better to go for an existing home. However, they won’t mention anything about the advantages of choosing to build a custom home. So, to shed some light on this matter, listed below are five of the best reasons why it is better to go for a custom home.

Style of the Custom Home

If you are looking for a house in a specific area, existing houses may not have the design that you want. A certain area may have houses featuring a transitional design but what you want, for example, is a classic style home. What’s great about a new construction is that it’s easy to find an existing community or development that provides the style you like. With a custom home, you don’t have to settle for aesthetic features you don’t want.

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How To Choose The Perfect Floor Plan?

custom homeChoosing floor plans for new custom homes could be an exciting process. As you begin to go through your options, it’s crucial to know how you and your family will use the space and how it would fit your lifestyle. The perfect floor plan would enhance the way you experience your new custom home, and everything from its style to its shape must be accounted for. You may find your options overwhelming, but there are some tips to help you decide which house plan is the best for you.

The Perfect Floor Plan For Your Custom Home

Size

The first thing you need to consider if you are choosing a house plan for your custom home Myrtle Beach must be the size. You should not run the risk of under or overbuilding your house. As you start browsing plans for your custom home, spend some time to create a wish list that you want your custom home to have. You need to know how many bedrooms you want or if you would like to have a formal dining room, and what kitchen design would suit you best.

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Is Building A Custom Home The Best Choice For First Time Homebuyers

custom homeWho doesn’t like the smell of something new? People love everything new. Does that apply to having a new custom home, too? They increase in value much faster than a house that’s already existing. But, they tend to cost more per square foot to construct or purchase than an existing home.

Everything inside a new home is brand new. Since you will be the first one to use the amenities, there is a chance that it may not be as trustworthy as the ones that managed to withstand the test of time. This is one of the things that are the points of debate when it comes to purchasing or building a custom house versus purchasing an existing home. There are positive points to each option but they also have their own set of disadvantages. First time home buyers must consider everything especially because it’s their first foray into the home buying game.

The Perfect Custom Home

Many homeowners believe that they can have their perfect dream house. But that’s not the case in real life. The reason has nothing to do with your budget but it all boils down to your needs, tastes, and vision, which tend to evolve, especially if you are a first time home buyer.

So what may seem to like a good idea one minute ago may come up short a few hours after.

Don’t Get Caught Up In The Excitement

New construction can be exciting. However, many first time home buyers get caught up with the thrill of making something that’s unique. In many cases, they end up realizing that their plans didn’t make any sense and didn’t relate to how they enjoy their houses. They may end up spending a lot on certain designs or features that they don’t need.

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The Essentials of Home Construction Loans

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 Custom 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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Can You Build A Small Custom Home?

custom homeBuilding a custom home is not exclusive to wealthy buyers who are looking to have an expansive house. As a matter of fact, today’s trends show that buyers these days mostly want a smaller home footprint.

According to a National Association of Home Builders survey last 2018, about 42% of buyers will sacrifice square footage to have a home that’s affordable. In 2018, the size of an average new home for a single family is below 2,500 square feet, which continues a five year trend where homes are becoming smaller. Unlike others who think bigger is better, a lot of today’s home buyers prefer a home that’s affordable, comfortable, and energy efficient.

Are you considering a small custom home? Here are a few things you need to consider.

How much can you afford?

Get in touch with lenders to get an idea of just how much mortgage you are going to qualify for before you begin anything else. Know how much a banker will most likely loan you, and how much your monthly payments will be. This will help you keep you within your budget once the design process starts.

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Questions You Need To Answer Before Deciding To Build A Home

custom homeThere comes a time when some people have gone through the tedious and nightmarish process of purchasing a house. That first house is commonly modest but the excitement they felt was memorable. As they go on with their life, they eventually decide to build a custom home. But before anything else, there are a few questions they need to ask themselves.

Can I Afford A Custom Home?

When you are looking at it on paper, it seems like building a custom home isn’t that expensive. Although the numbers you see on paper show an attractive price, you have to take into account the unexpected construction costs of building a home. For example, although lumber may be cheap today, if the build has been delayed, that framing cost could easily go up. And although your land might seem to be all set to build on today, you may discover later on that it still needs to be surveyed. Be sure that you can afford whatever number is on the price breakdown and have enough cash to spend on unplanned costs without blowing your budget. Check the numbers and make sure that you sign on for the price that you can afford.

Do I Have The Time and Patience?

Having a custom home built instead of just buying an existing house needs a longer amount of time. Given that, you have to make sure that you have got the time and the patience to address the variables that are involved in constructing a custom house. Even the simplest, stock constructed house will need between three and six months to be completed. Meanwhile, custom homes could take at least 18 months. In case you are in a rush to get into a house, purchasing one could be the best option for you.

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Is It Possible To Build A House In Winter?

custom home builderIn the past, most homebuilders believed that if they can’t get the roof on before the first snowfall drops, then you have to wait for spring to come. That’s no longer applicable today. Winter home building is possible plus it offers several benefits for both the homeowner and the custom home builder.

The uncertain economy also had a significant effect on construction practices. During the boom years, custom home builders poured foundation during the fall season because the weather was nicer, and they were sure to sell the houses later. These days, the demand is much lower and cash is tighter, so they’re waiting for homebuyers to order what they really want. Contractors who used to take winters off are now very much happy to have jobs including those who specialize in renovations and additions.

Building a Home In Winter

Frigid Conditions

Most trades including custom home building could be done in all but the sloppiest and coldest weather conditions, however, they also have their limitations. Daylight hours are much shorter plus the crews don bulkier clothing so they move much more slowly. Extra measures should be taken to prevent ice damming, broken pipes, as well as other infiltration issues. Shingles stick better during warmer weather. Don’t worry too much about pouring asphalt.

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Reasons To Build A Custom Home

custom homeWhat is the most common reason to have a custom home built? First of all, you get everything you want. For some, that’s the only reason they need but for others, they need more than just that. In case you are looking a new house in the market but you’re finding it difficult to choose between a custom home or to personalize a semi custom home or production home, listed below are a few reasons why you should consider the first option.

Why Go For A Custom Home?

Future Proof Home

Future proofing means different things however, but this is mostly about family planning. Among the most common reasons why a lot of people have to uproot, put their homes in the market and purchase a new one is for them to accommodate a growing family. A custom house gives you that. You will have the chance to design your living space that will fit your needs today but also takes into account the many surprises that may come your way in the future.

Lower Energy Bills

Buying an existing house is ideal for some but retrofitting older houses with contemporary and up to date energy efficient fixtures could be expensive. Even if a new home buyer can expect to have energy efficient fixtures in their new houses, a custom build will provide them with greater opportunity to take into account energy efficiency and even lower their energy bills every month significantly.

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Build Your Dream Custom Home On A Budget

custom homeAt first it might seem as if building a custom home is out of reach for many individuals. A lot of people think that custom homes are too costly for them, and because of that, they go for a home remodeling project instead. But do not give up too easily on getting your dream home. With hard work and right planning, you can build your dream home even if you are on a budget.

There are several ways to cut costs when building a brand new home. For example, you could shop around for lenders and custom home builders. If you are handy, you have the option to perform some of the task yourself.

You may likewise search for builders who managed to streamline their building procedures. Dawol Homes offers you efficiency and flexibility in the building process with the help of our in-house design team. You will find several tips here to assist you in saving money while you are constructing your dream home. We have included questions that you need to ask yourself as well as your builder at every stage of the building process. Read on to learn more cost saving tips for constructing your dream house.

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What Are The Benefits Of Custom Built Homes

custom built homesCustom built homes are houses that are designed and constructed according to your unique needs and specifications. For some people, purchasing an existing house is find because it meets their needs. Others would like to add their very own special touches and that is why they go for a home that is custom built.

Why Go For Custom Built Homes

Custom homes can be completely personalized, which is one of the primary reasons why a lot of people go for this kinds of houses. The purchaser will have a say in all phases of the building process to make sure that their house is built exactly the way they want it to be. You also get to choose the room’s layout, size, number of bathrooms, bedrooms, color of the wall, appliances, countertops, cabinets and more. Even though custom built houses are a bit more expensive than regular ones, you will have the satisfaction of owning a house that suits you well and never have the problem of having to deal with the design choices of past owners. You also do not need to spend money on renovating your house because you already have everything you need.

In case there is a new subdivision that is being constructed, buying a home there lets you build as you please. You could also watch as other houses are built and other people start to move into your location. In case you buy acreage, you can build it as small or as large as you would like and it provides you a chance to live in a remote location with only a few neighbors.

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