Plan your Budget- Determining ahead how much you can comfortably spend to build your new home is foundational to your success. There are a wide variety of online mortgage calculators that will give you a ballpark estimate. Work closely with an independent financial advisor or your bank to determine the best tools to meet your needs.
Choose your Lot– What views do you want in the morning or evening, what size of yard do you want based on your favorite outdoor activities, do you prefer corner lots, wide frontages, rear access, interesting shapes? Make your shopping list and search out the best available location for your new home.
Pick your House Plan– It would be wise to have a general idea of the costs/sq ft to help you determine the best home design for your budget. Consult with a few of the local general contractors to get this estimate. There are a myriad of great online or printed options for house plans. Consider your lifestyle, preferences and future family needs. If you find your perfect dream plan, order it directly. If you want a more customized plan work with a designer or architect. We can suggest some local options.
Hire your General Contractor– With your finalized plans in hand, you are ready to get two or three contractor bids for comparison. We have listed several whom we highly recommend. Your general contractor will purchase all the materials and manage all the laborers and subcontractors who work on the construction of your home. Make sure you communicate well with each, so you know exactly what their bids includes, such as the level of finishes for your countertops and exterior siding materials, for example. Clear communication is key in this step.
Negotiate a Contract- A contract for new home construction will describe the project in detail and include a listing of all the parts to be included in the house—the “specs.” Be sure to hash out the specs as part of the negotiation before the contract is written—and then make sure everything is clearly listed. Remember to amend the contract later on if you or your contractor makes any changes to the project.