Mortgages & Building a Home

 

I

was having a conversation with a past client of mine just a few days ago, and she’d contacted me about wanting to get some information on potentially building a home. As somebody who’s been through this process, it is very exciting, but it can also be wildly overwhelming.

If you’ve never been through the process, there’s some things you just don’t even know. So I want to touch on a couple of things that might make it a little bit easier, and definitely some things that you want to pay attention to.

How To Make The Home Building Process Easier

Number one is, there is not a builder in the world that’s going to be able to tell you what they’re going to be able to build your house for if you do not have what are called your plans and specs, this is your house plans. But it is not just about the square footage. This is where people get completely sideways. You can talk to any builder and they’ll say, well, I can build your house for $125 a square foot or whatever the number is.

But does that align with how you see your home being finished out? Because the finish out, can drive that cost up exponentially, and that’s going to be from your site. Do you need a lot of excavation and dirt work? Is it the finish up that you’re doing? What’s the height of your ceiling? What kind of floors are you putting in? What kind of countertops? That $125 can morph into $200+ a square foot very, very easily, depending on what you’re doing.

So know that as you’re going in, work with a reputable builder. If it sounds too good to be true, it just might be. And then, of course, make sure that you’re talking with your lender and doing this upfront where you’re getting pre-qualified. Give yourself some cushion on the financing. Because even in the best of circumstances, what you thought was going to be on the front end a lot of times looks a little bit different on the back end.

Give yourself some cushion on the financing. Because even in the best of circumstances, what you thought was going to be on the front end a lot of times looks a little bit different on the back end.

Bethany Ashby

 

Ready to get started?

Get Pre-Qualified

What do you think?

Your email address will not be published. Required fields are marked *

No Comments Yet.