What do I need to do to start the building process?
Set Budget
Whether you will be paying cash or working with a lender, establishing a budget early is very wise. You may want to use an online mortgage calculator, as this allows you to enter your desired monthly payment, estimated interest rate and desired financing timetable, calculating the principle amount of your loan. Once you have established your desired monthly payment, it would certainly be beneficial to contact a lending agency to get prequalified at your budget amount. Compare loan programs from two or more sources. If you own the lot, you may arrange for construction and mortgage financing. By doing this, you can sit down with your builder and discuss your square footage budget. Of course your square footage budget will vary, according to interior and exterior finishes.
Decide On A Location
The feasibility of the site for the style of your home is an important issue. Studying the lot, evaluating a set of plans and determining how the two might fit together can provide you with options you might overlook. Also, keep in mind the cost difference between raw land (with no utilities or road) and a finished lot (road installed and utilities available) is usually significant.
Decide on a plan
There are three ways to handle the planning stage of building:
(1) You may choose to hire an architect whose professional experience and expertise can assist you during the design phase. Depending on the terms of your contract or the relationship between the builder and the architect, the architect may remain involved throughout construction. The professionalism and expertise may be worth the money.
(2) You may choose to purchase your plans from a designer, through a book or off of the internet. But often you are forced to choose a plan that might not be exactly what you are looking for. Most stock design firms charge additional fees to modify plans from their original design.
(3) One of the most popular and cost effective methods of design is design build. The design build approach brings together design and construction expertise, usually resulting in greater continuity of service. The joining of design and construction can save you time and money. Please contact us for additional information on design build.