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