Building a New Home?
Here's What You Need to Know!
Can you imagine yourself in your dream home? If you're like most home buyers, you've been waiting for the right time, saving and planning for months, or even years. If you're planning on building this year, it may seem like you have plenty of time, however a lot needs to be done by then!
Six months prior to your anticipated breaking ground date is a great time to start setting up an official plan and getting things in order. It may seem like just a few days between digging the foundation and the move in date, but there's a lot to be done beforehand. We will work with you to find the best home design and make any changes you may want until it's the perfect home plan for you. We will get firm pricing and secure you a spot on our construction schedule.
The Construction Process
Deciding on a design from the beginning is important. It will be the main factor in the ultimate cost of your home. You want to make sure the design meets all your needs, but make sure not to forget about your future needs when it comes to a final design
Once you come to a decision on the floor plan design it will need to be evaluated for building code compliance. This will require specifications of not only the home structure components but the building site as well. The plans will be submitted to your local planning and zoning office to be reviewed. Once approved, the building permit will be issued. Any changes made to the home after the plan has been drafted may lead to re-evaluation and may result in an additional charge. A survey of the land will be required as well as a soil test. Since these things are required to be approved by City and County planning offices the time it takes may vary.
If you’re paying for your home with available cash, congratulations, you just saved several weeks of time. If you are like most homeowners, you’ll be financing the project, make sure you begin this process with time to spare. Submitting a pre-qualification application before the planning process starts is recommended. It’s important to begin working with a lender to apply for a mortgage as soon as possible. That way you know how much money you can borrow and how large of a home you can afford to build. All American Dream Homes will gladly recommend local banks or credit unions. Many lenders offer a combination of both mortgage and construction financing; you’ll need to be sure that you have both in place before we can get things started. Remember making large purchases during construction can change debt ratios and lead you to no longer qualify for your mortgage.
There are a lot of decisions to be made before we break ground on your new home. Depending how far you are in the decision process of choosing a floor plan, and how many changes you intend to make on our floor plans will determine your planning process time. So much depends on how quickly your city planning offices, drafting, finance, and site inspections can be accomplished. We will do all we can to avoid delays, but sometimes things happen. We recommend picking a date you would like to begin construction to motivate yourself to get everything together. Make a list of tasks, talk to a lender, set a date to have a decided design, get the necessary information for your property (If already have a location.) This way we will be ready to go and have a guaranteed spot on our building schedule. The sooner you start planning the sooner you’ll be in your new home!