Five Things to Know Before Building Your Dream Home
So, you’re finally in a place in life where you are able to build a new home—your dream home. You’re excited, yet a little nervous about everything that’s about to happen, and there’s a good chance you have a lot of questions weighing on your mind. Understand that your home builder and designer knows what he or she is doing, and they will be there for you from beginning to end, but you need to be actively involved in all aspects of the building process to ensure you get exactly what you want. You ARE the decision maker!
Ready to roll out your plans? Before you start reaching out to builders and grading companies in Stanly County, NC about building your dream home, here are five things you should know:
- Know your financial situation: One of the first and most important steps to take is reviewing your finances to determine what you can afford. If this is your dream home, this is your chance to make it exactly what you want. Can you afford to not only build the house, but also maintain it? Have you run the numbers to ensure you won’t be putting yourself in a serious debt situation? Here’s what you need to include in your building budget: construction costs, the down payment, tax benefits, money for fixtures and large appliances, emergency funds (for unplanned costs) and other related costs.
- Talk to the bank: When you are sure you can afford to build your house and have purchased your house plan, seek financing from your bank of choice—unless you are fortunate enough to have cash in hand. New home construction lending differs from mortgage financing in that a home construction line of credit is used to pay subcontractors and suppliers. You’ll also need a residential mortgage to pay off the construction line of credit after the house is built.
- Do some research on your builder: Do your homework before deciding on a specific home builder. To ensure you hire a builder with a good reputation, get recommendations, read reviews and check them out online. Select a builder who is known for doing quality work and having a stellar work ethic.
- Hire a grading contractor: Since you are building your dream home on a new or current parcel of land, you will need to hire a grading contractor to provide site development and preparation services for your residential project. They provide foundation grading in several ways, whether you need general sloping away from the foundation or special grading to accommodate nearby landscape or land features.
- Go over your punch list: Going over your punch list is a part of the final phase of your home building project. This list is created at the end of construction—before closing on your final walk-through—to show the things that are not yet done or what needs to be repaired.
Congratulations on your new home build plan! When you begin reviewing grading companies in Stanly County, NC, don’t hesitate to contact our team at Thompson Grading & Hauling, Inc.!
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