The idea of sitting down with a team of custom home builders to start a project can be exciting. However, there are a few things you need to do early on in the process and as it continues to make sure things move ahead as smoothly as possible. Follow these three tips to make the most of custom home builder services.
Check Out Regulations
Learning that you've violated a regulation can stop a project in its tracks. New builds often have environmental impacts that have to be assessed. There are also frequently rules about styles of homes and their features in certain communities. You may even run into trouble regarding something as simple as how far a structure has to be from the property line. Contact your area's code enforcement office to find out what the applicable regulations are where you'll be building.
Line Financing Up Early
Few things can bring an effort to a halt as readily as finding out the money isn't there. Sit down with an officer at your bank or credit union to figure out exactly how much money you'll have access to. Try to build in at least 20% overhead to deal with unforeseen expenses and to take advantage of opportunities, like upgraded materials or features that come available. You'll feel a lot better knowing you didn't need every penny than trying to put together another round of financing.
It's also prudent to build financing into your contract. Many banks are happy to set up tranches of funding. For example, the first 20% of financing might kick in once the contract is initiated. A further 20% would then come down once ground is broken. Blocks of money continue to be advanced as the project moves forward. This will limit your risk exposure during a build while providing an incentive to meet benchmarks.
Get Everyone Connected
Plenty of work goes into constructing a custom home, and this includes doing surveys, handling land grading, addressing engineering problems and doing design work. Depending on the arrangements you make for a project, you may need to act as a bit of a traffic cop, directing the flow of different crews and projects. This is especially the case if you bring in an architect or a consultant to help you through the process. Get contact information for everyone and make sure each person has touched base with the other parties. Continue to check in on folks periodically to learn how they're getting along and what they might need.
If you're interested in building a new home, consider looking into custom home builder services.