6 Things to Consider When Building A Custom Home
Building a new custom home can be one of the most exciting experiences of your life. It's also one of the biggest investments you'll probably make. You'll want to enjoy your home building adventure, and that begins by doing a little homework. Here are the top things to consider when building your custom home:
1. Builder reputation matters
When choosing a builder, consider their reputation and financial strength. If there's a sudden economic downturn, you'll want to be confident that your builder will be there to finish the job and address any warranty needs that may arise later. Ask about the subcontractors they use. How experienced are they? Does the builder have a long term relationship with them? Question the construction standards the builder follows such as energy efficiency, internal moisture management and use of 3rd party inspectors. Drees follows a program called DreeSmart, which details the building practices they follow for both energy efficiency and technology features that are included in all of their homes.
2. Timing is key
As carefully planned as custom home building projects can be, some aspects can still be unpredictable, so it's important to understand how your builder manages their timeline. Most likely be delays caused by weather issues, such as rain, snow, and extreme temperatures. A good home builder, however, will factor potential delays like this into their overall timeframe to give you a better estimate of the project completion date.
3. Find the right home site
Rather than buying a home site and then choosing a builder, it's better if you choose a builder first and then work together to find the perfect lot that works for the home you envision. Drees will evaluate home sites with you to discuss how your home will be placed on the land. They'll also identify site preparations that are required including tree clearing, utilities and grading.
Also, consider how financing will work. Will your custom home builder buy the lot for you? If you already own land, can you use the equity in that land towards your construction deposit?
4. You don't have to pay multiple mortgage payments
Some custom builders aren't able to finance the construction of your home, so they require you to have a construction loan. Some even require you to take out additional construction liability insurance. That leads to additional paperwork and closings for you, plus you'll be paying on a loan while you are still potentially paying on your current home's mortgage. Drees is different. We'll finance the construction of your home to make the process as simple and streamlined as possible.
5. Some builders only build the home
With some custom home builders, anything outside of the home itself is the customer's responsibility. This can include landscaping, driveways, running utilities to the home and well/septic, if required. Ask what your builder includes so that you can factor in the appropriate amount of money and time that it will take to coordinate and complete the remaining work after closing.
6. Surprise/hidden costs happen
Did you know it can cost 10% more for concrete poured in the winter? This may seem trivial, but the fact of the matter is that most custom builders will pass on every additional cost to buyers. Some even have their customers pay for all utilities during construction. It's vital that you find out this information ahead of time, so you're not hit with unexpected, incurred costs. Drees offers firm contract pricing so that you know what your home and design selections will cost upfront and in writing.
The process of working with some custom builders can sometimes seem like a second job. At Drees, it's OUR job to make the process easy and enjoyable, respecting your time throughout.
To learn more about building a custom home with Drees, visit us at dreeshomes.com.