This is by far the most common yet challenging of questions!
In order to answer, we need to break down the Standard Building process. When meet with you, we will first define your project, then break down the cost's for you. We work with you to come up with an accurate budget for your future custom home. Meeting with a professional builder is really the best way to begin your custom home journey. After your personalized meeting, you will know your budget and what comes next. The items we will discuss and include in your planning meeting budget are itemized below!
First you must budget for land. Land prices vary depending on size, location and readiness to build. Land costs can be straight forward, but more often then not, you will need a feasibility study before you purchase. In this way, we can be sure the property you love, loves you back! We help you through out this, sometimes tricky, process. You also have to be aware of how much permitting cost's are in the area you are interested in buying in.
- We have a few standard home plans that can save you on designing cost. Customized plans are always an option since we work closely with local home designers.
- Permits can vary vastly depending on the jurisdiction the property is located. If you have an area in mind give us call, we may be able to give you an idea of what to budget in for that area.
This category includes land clearing and demolition of existing structures.
- Utility hook up.
- Water, power, sewer. Example will the property hook up to sewer or will a septic system be required?
- Road improvements such as sidewalks, and the driveway to the home. How far from the road will your home be located?
- Development costs are based on the individual property details so when searching for a lot you must research these costs before buying.
A cost not to gloss over is your lending costs. This also depends on the structure of you loan, terms and so forth. These are things we can talk about to figure out what the best solution is for your situation and family. Here are two of the most common options.
- Put 20% down on the total cost to obtain a construction loan. This is an interest only loan until the home is completed.
- Presale under contract with a substantial earnest money to secure the home. This allows you stay in your current home with no payments until your new home is complete.
This is the cost of building your home! Our rate includes:
Professional management of the project from start to move in.
- Guidance through creating a budget, plan design, development.
- Management of building home the home.
- All materials and sub contactor costs associated with building the house with all the Standard Home Features we include in our builds .
Since you will not be purchasing a home on the Real Estate market you will save at least 6% on standard Real Estate Commissions. This can be a great savings and can help to bring down your monthly mortgage payment. Or you can use that extra money to add upgrades to your home!