Building Your Own Home
Could anything be better? Design and build your own custom home in the mountains with every room, every color and every finish exactly the way you want? It’s possible and it’s rewarding. But it takes time and attention to detail worthy of a military campaign.
An experienced and considerate homebuilder can counsel and guide you through the process – we suggest you not hesitate to interview a number of contractors to determine the type and quality of homes they specialize in, how involved they want you to be once the project gets under way and the commitments they’ll agree to by way of guarantees, deadlines and costs. Be sure to talk to the builders’ past clients about their experiences.
Building your own home begins with your selection of the builder. The contractor will transfer your dreams to paper, from basic design to engineered blueprints. They will also help you find a lot appropriate to your home. A good homebuilder will insist on a very clear understanding about who has what responsibilities every step of the way and will provide detailed blueprints, specifications, allowances and a contract to build for you to approve. I can provide names of tried and trusted builders for you to contact.
The general rule of thumb is that you should spend 20% to 25% of the total cost of the project on your land. The old model of buying your land, then getting a construction loan to finance building your home and then getting a permanent mortgage to pay off the construction loan is only one alternative to financing your project. “Construction-to-perm” loans are available through local lenders. Again, I can provide names of experienced lenders for you to call.