So you’re building a house on your own lot. Do you know what goes into a typical checklist for home building?
Before you embark on this adventure, do your research. Many people can get swept away by the excitement, only to find mounting costs and complications months into house construction.
Here’s a tip: Turn to your local home builders for advice, often and always.
Questions You Should Ask Your Friendly Home Builders
Buying a new house can be a heartbreaking process if you’re not careful and don’t listen to the right experts. Thankfully, your home builders can keep you on the right path.
Below are five questions you should bring up the next time you meet with your home builders.
1. What Should I Look for in a Lot Where My New Home Will Be Built?
First of all, take a close look at your house construction options. What comes with the base price of your new home? Often the lot cost is included, but not always. Make sure you are paying an amount that’s reasonable for your means.
Homebuilders will be quick to tell you that lot size isn’t everything. You can build your dream house on a small lot, as long as the location and topography are conducive to supporting a residence.
2. What’s the Best Way to Find a Move-In Ready Home in a Certain Area?
Looking for a turn-key property?
Your friendly home builder may tell you that not everyone in their industry is a member of the Multiple Listing Service or MLS. Regular property sellers typically list houses with real estate agents, but home builders may advertise or have their own sales agents instead.
To properly identify all potential new homes, you may have to rely on more than just one real estate agent. You should shop around and talk to multiple local builders.
3. How Do I Get the Best House Construction Discounts?
If you get one of the first ten homes built on a certain site, you can sometimes negotiate a lower price. Because home builders benefit from a quick turnover of the first selling phase of a new community, they may agree.
What if you only have limited new home options available in already well-established areas?
You can ask your friendly home builders if there’s a way for discounts to be applied in the form of upgrades, such as additions to the outdoor area or extra custom home features. This will allow them to not reduce the publicly recorded price of your home, while still making the sale more appealing for you.
4. How Long Will Home Building on Your Own Lot Really Take?
Here’s an essential item in your checklist for home building: patience.
Unless you’re buying a move-in ready residence, the usual lead time for new homes is about 8 to 10 months – even longer if you are looking at a fully customized house construction.
Get ready to make what will feel like a million decisions, from small stuff like bedroom interior paint colors to budget-altering choices like replacing delayed shipments with pricier but faster ones from other suppliers.
5. When It Comes to Financing Homes, Who is Your Preferred Lender?
Homebuilders often recommend one or two preferred mortgage lenders. You don’t have to take their advice, but it’s worth comparing their picks to yours.
Most builders’ partnerships with lenders allow them to offer in-house incentives, special deals, or discounts. With the pre-existing relationship between builder and lender, it will also be much easier to keep transactions quick and transparent.
Consider Consulting Real Estate Agents and Lawyers Too
You don’t need to use a real estate agent, but they will help navigate conversations with sales agents and home builders. The property seller or builder typically pays the commissions of their buyers’ agents, too. Often this means that you’ll get a great deal on your new home and you won’t need to pay the real estate agent that made it possible.
Agents might be optional, but real estate lawyers are not. You want to get legal advice before signing a huge purchase contract. They will make sure that the purchase is fair – with warranties and guarantees, as well as cancellation rights and contingencies.
Ready to Start Home Building on Your Own Lot?
There’s nothing like the feeling of finally bringing your dream house to life.
Oberer Homes will be with you every step of the way, from writing down your checklist for home building to crossing each item off – one by one. Set up a consultation or appointment with one of our experienced team members by giving us a call at 937-531-5505.
Got questions about our house construction services? Contact Oberer Homes and let us help you build your dream house in Dayton, OH and surrounding areas.
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