Home Decorating Ideas

Subscribe

Sponsor Information:

Categories

Archives



Before You Break Ground On Your Custom Home Consider These 5 Tips

January 2nd, 2011

Copyright © 2011 Gerry Stringer

The downside of the current economic climate is sales of existing homes and new home construction are at all time lows because of the near collapse of the real estate market but the advantage is financing rates, design and construction expenses and the cost of acquiring a building lot are also at historic lows.

For those who have always wanted to build a dream home, a new custom home with all of the personal touches that will make it truly unique, experts advise that this marketplace couldn’t be better. All building materials are seeing a supply surge in the down economy which is creating many discount opportunities on even custom pieces like stone and tile or fine amenities like salvaged stained glass or weathered barn wood. Contractors and subcontractors, design engineers and housing architects – all super busy and high priced in the go-go years of the mid 2000s – are not only hungry for work and keeping their fees at a minimum, but their schedules are open and they are able to complete projects in record times.

People looking to finally take the leap into the custom home of a lifetime also have the advantage of being able to pick and choose their building partners and command their full attention. However, even with the stars aligning to make this one of the best times to build a custom home in decades, prospective new home buyers still have to be vigilant in their planning.

Here, according to custom home building experts, are the Top 5 Steps to Take Before Starting to Build A New Custom Home:

· Research the real estate market. Every new custom home begins with the selection of building location, typically an existing older home in a desired neighborhood that would make an excellent location and a good building site. Look around for neighborhoods with the type of home you are looking to build with new homes in the price category you want to achieve; a neighborhood where the housing stock is turning over to newer homes. The proximity of newer, larger homes will protect your investment and you will have more opportunity to find a smaller home that you could tear down for the price of the lot.

· Find an architect with a similar portfolio. You need to find an architect experienced at designing custom homes similar to your planned project – the same size category, in the same area, with similar types of building materials. If you are planning a lot of custom stone work, or a custom kitchen with unique attributes, better to go with a designer who has been there before.

· Find a custom home builder with similar experience. Finding the right builder, who will act as project manager, is a very important step. The requisite experience should not only cover the size of home in question, and the building materials projected, but also the area in which the project is going to be done. Building codes and availability of resources vary widely from area to area, even within a single metropolitan area, so having a custom home builder with experience in that specific area can save time and expense.

· Look for subcontractors who can handle the job. Not every electrician, roofer, plumber, landscaper, etc., has the demonstrated expertise to handle the amenities you are planning. Often sub-contractors are selected on the basis of price, which can be the wrong way to go if the project includes special additions. Have they installed a home theater? Do they specialize in whirlpools, spas, or swimming pools? Is xeriscaping an area they are experienced in? Paying for experience can save you money in the long run.

· Cost, financing and project management. Custom home building projects inevitably run into snags and changes that alter the cost and can affect the financing. Work with vendors – realtors, designers, contractors, lenders – with experience in such matters. Before breaking ground on construction, make sure the entire project is priced out with clear advance delineation of how changes are handled in order to avoid surprises. Many builders work on what is known as a “cost-plus” basis, which can be an incentive for cost overruns; where the incentive is to stay on schedule and budget, it’s better to decide to stay on a fixed fee. Lenders can be very helpful to build a construction plan and a long-term mortgage plan and be sure it has flexibility in case unexpected cost is incurred.

There are thousands of variables involved in building a custom home, and the more research a homeowner makes in advance and the more involved the homeowner is in every step can and will lighten the load. The designer, builder and lender are going to be partners in the process until move-in day, so it pays to go with experience and with people and firms you can live with – for a lifetime.

Gerry Stringer is a real estate expert in the Denver market and he has experience with custom home building, which is why he recommends Denver custom home builder Chase Custom Homes for all building and remodeling because they deliver on time and under budget.

No Comments »

No comments yet.

Leave a comment

You must be logged in to post a comment.

Links

Recent Posts

Meta

RSS Home Decorating Ideas

Tags

Other Links


Shopping  and Fashion
Top Blogs
Blogs Directory

Feedage Grade B rated
blog directory

Sky3c Sponsored by Web Hosting