Building a home is a dream come true for many, but the process can be daunting if you’ve never gone through it before. Learning the ins and outs of securing a loan, finding the right builders, ensuring that your home includes everything you want, and staying on budget are all essential tasks if you want to keep stress at bay, so it’s crucial to have a solid plan in place. Start by laying out the must-haves in your new home and thinking about a budget, then do a little research to find the right contractor. Polo Builders can help you bring your dream to life using the latest technology to create construction plans, so you’ll have peace of mind throughout the entire process.
Use this guide to start planning for your new home construction project:
Prepare for the financial details
Building a home is a very different process than buying, so it makes sense that the financial details are different as well. When you take out a construction loan, the guidelines for things like credit scores and your income are much more strict than they are for a regular home loan, so it’s absolutely crucial that you prepare well before even applying. This means staying on top of your credit by using helpful monitoring tools, as well as taking pains to boost the score and maintain it, and being careful about not opening any new lines of credit–even small ones at retail stores. One option that will make the process easier is a construction-to-permanent loan, which involves a lender making payments to the builder as the construction is completed. When the house is finished, that cost is converted into your mortgage. Polo Builders works with multiple banks as a Certified Building Contractor to ensure anyone who is looking to build, can get a loan. Each bank offers different programs that are unique to them, so review the list of banks Polo Builders works with below to see which programs offered will work best for you!
Make the land as important as the home
Building a new home means you can choose a great piece of property, so it’s important to make that process just as thoughtful as the construction part. Once you have a budget and a secured loan, start thinking about what your needs are where the land is concerned. If your goals are to start homesteading, for instance, you might need acreage that contains a water source or land that’s suitable for planting. It’s also smart to take into account the physical location and find out whether any surrounding empty lots will be used for other homes or commercial buildings in the future. Is the land near an airport or a busy highway? Is it near a floodplain? Do some extensive research before settling on a spot.
Prepare the land by removing tree stumps and filling holes
Once you’ve found the right piece of land, look for resources that will make the preparation process for the build a little easier. Often, homeowners will need to take a close look at the land and clear away dead trees, fill in holes, plan for irrigation or sewage lines, and put down sod. Make a list of tasks you’ll need to complete and start looking for helpful resources that will make those jobs easier. While it’s often simple to remove dead trees, tree stumps are big jobs that require the help of a pro. The cost will vary depending on the size of the stump, your location, and how accessible it is; keep in mind that you’ll be paying extra if there is a root system involved. Take a close look at your property to get an idea of what needs to be done to make construction easier.
Create a realistic timeline
When it comes to building a home, it’s important to make sure you remain realistic where time is concerned. Some delays will occur, small problems will pop up, and these issues will become overwhelming if you feel you’re in a time crunch. By giving yourself and the builder some leeway, you’ll relieve stress for everyone involved.
Building your own home is a very involved process, but by getting organized from the beginning and creating a solid plan for things like removing tree stumps, preparing the land, and getting your credit into shape, you can ensure that it all goes smoothly.
Have an idea for your home build that you want to discuss? Contact Polo Builders today.
