10 Things You Should Know When Building a New Custom Home

Building a new custom home is much different than buying an existing house.  And if a cookie-cutter new house doesn’t fit your needs, a custom home gives you the ability to build a home exactly the way you want it.  It can be an enjoyable and exciting experience to build the home of your dreams.  But unless you have been through the experience before, you may not even be aware of some of the decisions you will need to make or the factors that can influence the final cost of your new home.  Here is a quick summary of things you should know (or do) if you are considering building a new custom home.

  1. SET YOUR BUDGET

The key to successfully building a new home is to know what you can afford to spend, devising a budget, and then sticking with it. shutterstock_185600852

  1. UNDERSTAND FINANCING

Unless you are paying cash for your new home, there are two options for financing your custom home:  builder financing and owner financing.

  1. CHOOSE YOUR LOCATION AND LOT

Whether you buy a lot and then have your home built or you build on a lot owned by your builder, the location, size, and physical properties of the lot will affect the final cost of your new home.

  1. CHOOSE YOUR BUILDER

It is important to know the difference between a Production builder and a Custom Home builder.  Choosing a builder might be the single most important decision you make in the building process.

  1. CHOOSE YOUR PLAN

If you are building a custom home, you have the opportunity to either find or create a home plan that will best meet your individual needs and personal style. Bianca Main Floor-Black Line

  1. UNDERSTAND THE CONTRACT

What is the difference between a fixed price contract versus a cost plus contract? Both methods can be used to price your new home and both ways have advantages and disadvantages for you as a buyer.

  1. UNDERSTAND THE DESIGN SELECTION PROCESS

When you build a new home you will be making a lot of decisions about the design elements that you include in your home.  These include plumbing fixtures, floor coverings, paint and stain colors, cabinets, and a lot more.  Each builder will have their own process and menu of items to choose from.

  1. UNDERSTAND THE CHANGE PROCESS

No matter how well you plan ahead, changes will almost always occur after you’ve begun construction.  Knowing how the change process works before you sign a contract can avoid disappointment and frustration.

  1. UNDERSTAND THE WARRANTY

Reputable builders take pride in their workmanship and realize that their success depends on building a quality home for you.  However, it is common for builders to offer a limited warranty to help protect your investment. shutterstock_163924949

  1. UNDERSTAND THE HOME BUILDING PROCESS

It is helpful to understand the home-building process before you begin construction so that you what to expect as your home is being built.

 

DaVinci Homes is committed to helping you have a clear and enjoyable experience while building a home you can be proud of.  Email davidh@builddavinci.com to receive more information about each of these topics.  Or call owner Dave Holman at 801-971-6650 if you would like to see how we can help you build the home of your dreams.