Guide to Building a New Home
Building a new home can be an amazing adventure. It is a journey to better living for you and your family. Like any journey you must plan your path to successfully reach your destination. If you are thinking of building a new home consider taking the following steps:
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Develop a budget. Think about how much you want to spend on your new home. In order to do this you must consider the amenities you want in your new home and your land cost. Start by looking at the cost of existing new homes in the area you wish to live that have the amenities you like.
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Get pre-approved for a mortgage loan. Most mortgage lenders or banks will provide you a free pre-approval. This will give you an idea of how much you can borrow to finance your new home.
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Purchase or secure your land. The amount you or your builder pays for the land can significantly impact the total cost to build your home. Also, the size of the land can impact the type and size home you choose to build.
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Choose a home plan that fits your needs and your budget. There are many ways to view and purchase a home plan. You can search online, look in magazines or check with local home designers. There are talented local home designers in the Montgomery, AL and surrounding area. I recommend the following designers: Kimball Scroggins at 334-274-9006; David Robinson at 334-277-4333 and Andy Bozeman at 334-834-1714. All home designs can be modified to fit your exact needs and budget.
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Contact us to build your home plan selection.
ADDITIONAL POINTS TO REMEMBER:
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Develop ideas on the features you would like in your home by visiting local newly built homes that are open to the public. Also search online for ideas on the exterior and interior features you like. If possible take pictures and save photos so you can share your ideas with us.
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Financing steps are: Pre-approval, Construction Loan and Permanent Mortgage Loan. Banks that offer one time closing cost for the construction loan and then the mortgage loan can save money and time. Contact us and we can refer you to bankers who offer this service.
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The average time it takes to build a home is approximately six months.