Custom Home Builder - Getting Started - Designer Homes

Once you have made the decision to purchase a new home:

 

1. Talk to your banker if you intend to finance your new home.
1. How much can you qualify to borrow?
2. How much will your down payment be?
3. How much will your escrow be (money for taxes and insurance)?
1. Confirm what happens to overpaid escrow.
4. How much will your total payment be including escrow?
5. Check out different types of loans and lenders, 15 and 30 year loans or one time closing.
6. If you are going to sell your existing home as part of your down payment, sell your home!
1. Have your existing home appraised by a licensed appraiser.
2. Select a realtor or sell it yourself.
7. Find out what your closing costs will be on your new home.
8. Now that you are well informed and prepared, establish how much you want to budget for your new home.
 
2. Select a builder - Interview a builder and determine if you can work with this individual.
1. Do they listen to what you are saying?
2. What is their experience?
3. How long have they been in business?
4. Request a list of homeowners they have built for.
5. Ask how extras are handled during the course of construction.
6. How long have their subcontractors been working for them?
7. How involved can you be in the construction process?
8. Who designs their homes?
9. Who manages the day to day details?
10. What is your line of communication with the builder?
11. How does the customer service work after the closing?