What You Need To Know About Construction Loans

custom homeYou can easily find traditional mortgages, but they usually come with a catch. You can just borrow money to purchase a house that’s been built already. On the other hand, construction loans can be used for everything that you need to build a custom home or even a commercial establishment. They can also be used for renovating your property or purchasing a land.

What are construction loans for your custom home?

If you need a short term loan to build a custom home then you need a construction loan. You can use the loan to purchase a lot, build on a property that you already have, or remodel an existing structure, in case the program permits. Construction loans are much like a line of credit since you only get the amount of money you need to finish each phase of a project. So, you’ll pay only the interest on the amount that you borrowed.

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How Are Home Buyers and Sellers Faring Amid The Coronavirus Outbreak?

custom homeThe coronavirus outbreak has triggered a stock market crash, financial crisis, layoffs, and probably worsen the already serious housing shortage. Hard hit cities have implemented preventive measures like the stay at home order and social distancing. Amid the crisis, realtors are seeing a decline in the number of custom homes in the market because of the coronavirus, as per the recent National Association of Realtors.

Expert realtors revealed that if home sellers take out their homes from the market, it would continue to plague the low inventory conditions that the country is facing right now. A lot of homeowners are following the social distancing guideline and are taking the for sale signs off their front yard due to fears of an economic downturn. They are also scared of entertaining potentially infected home buyers who are interested in checking out their custom homes Myrtle Beach. However, with the country already going through insufficient inventory, this will most likely worsen the problem once the demand soars past the available supply.

About % of realtors have seen sellers take out their houses off the market because of the coronavirus pandemic compared to the 3% one week earlier, a new survey found.

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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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3 Types Of Floor Plans That Will Make You Want To Build A New Custom Home

custom home builderFind the best floor plan for your brand new custom home in Myrtle Beach. Make sure to consult with your custom home builder to determine which option is best for you.

There are three main types of floor plans. These are the traditional, contemporary, and the custom plans. The traditional floor plan will separate every room with a doorway and walls. Contemporary floor plans get rid of the majority of these walls for a much more open floor plan type like having the living room and kitchen in the same place. Meanwhile, a custom floor plan allows you to make your own design.

Each floor plan has its own advantages and disadvantages.

Traditional Floor Plans

Traditional floor plan is also referred to as closed floor plans. Keep in mind that closed does not also mean cramped. It’s because the traditional kind of floor plan have the exact same amount of space. It’s just that it has more walls. You could walk into nearly any house built at least 10 years ago and you will see this kind of floor plan.

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Property Taxes Preparation Tips When Constructing A New Home

Myrtle Beach custom homeBuilding a custom home that has the amenities you need is quite different from purchasing a pre-owned home from a real estate building especially when we are talking about property taxes. Without the exact figure based on a historical amount, how will you know how much you need to roll into your mortgage or save? This has kept a lot of families wondering about the ongoing costs of home ownership especially when it comes to buying a newly built home. As confusing as it may seem at first, it actually just requires a little untangling. With a little research and legwork, you can have an answer that will relieve you of your stress that is related to your new home’s property taxes.

Property Taxes In Your Location

It does not matter where you construct your home, you will always be required to pay property taxes. If you are new to home ownership, you might not even realize that property taxes differ from one municipality to another. Generally, property taxes are evaluated by the local government, but also have federal and state consideration.

The first kind of tax that goes into calculating any property tax is the millage for your specific jurisdiction. The millage is a property tax that is due for every $1,000 in property assessment; it’s actually presented in the form of a percentage. For example, when your property is evaluated at $200,000, and the mill levy or millage rate is 1%, you need to multiply the $200,000 by 0.1 to obtain $2,000, which is the amount you have to pay for your millage tax.

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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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Tips For Choosing A Custom Home Builder

custom home builderFinding a custom home builder could be an exciting experience, rewarding, as well as nerve wracking especially if you don’t practice due diligence.

Beware Of Baiters When Looking For Custom Home Builders

A baiter is a type of home builders who will quote a really low price per square foot dollar amount to grab the attention of potential clients. This ploy will then entice you to get in touch with the custom home builder. But as you start working with the builder, you will then realize that the super low price that you were initially quoted on did not include all things and is being quoted with substandard or low grade materials.

Make-Sure Things To Do When Choosing A Custom Home Builder

You need to make sure that the price that’s been quoted by the custom home builder Myrtle Beach is all inclusive. But be sure it is not limited to all of the needed site work, permits, and required hook-ups. There should be no surprises later, when it’s too late. In case you are not a handyman, you’ll want the custom home building process to be totally turn key.

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Dawol Homes Receives 2019 Best of Myrtle Beach Award

dawolMyrtle Beach Award Program Honors the Achievement

MYRTLE BEACH August 18, 2019 — Dawol Homes has been selected for the 2019 Best of Myrtle Beach Award in the Home Builder category by the Myrtle Beach Award Program.

Each year, the Myrtle Beach Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Myrtle Beach area a great place to live, work and play.

Various sources of information were gathered and analyzed to choose the winners in each category. The 2019 Myrtle Beach Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Myrtle Beach Award Program and data provided by third parties.

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5 Ways To Protect Your House From A Hurricane

custom home preparationHurricane season is here again. It is crucial for homeowners living in coastal areas to prepare their houses for tropical storms, strong winds, and even flooding. Although we hope you never have to face any of these, there is also nothing wrong with being prepared. Fortunately, there are ways for coastal homeowners and those who live in hurricane zones to protect their abode from damages. These may include simple improvements like cleaning gutters and pruning trees. Others may cost a bit more but are worth it. A home that is hurricane proof does not only have a better resale value but it also makes sure that you will still have a house to return to after the hurricane passes. If you are currently looking for a custom home near a beach, be sure to include these 5 hurricane proof improvements to your checklist. These tips can significantly help your home weather the next storm.

Go Metal!

If you have decided to relocate to a hurricane zone, you need to have a roof that is hurricane proof if you want your home to survive the next major storm. A home’s roof is constantly exposed to outside forces like wind and rain, making it one of the most vulnerable parts of any house. If you are moving to a place that is prone to hurricane force winds as well as tropical storms, your roof will definitely take a beating.

Fortunately, a metal roof can withstand the torrential downpours and high wind speeds brought by a hurricane. If you are buying a home that does not have a metal roof, you should consider installing one. A metal roof has gained its reputation for being resistant to strong winds of up to 140 mph. The American Building Components said that metal roofing provides distinctive security and strength thanks to its interlocking panels. Metal roofs can last for up to five decades, which is more than twice the lifespan of a conventional asphalt shingle roofs. Meanwhile, don’t forget to make sure that the metal roof you wish to install meets all local and state building codes.

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