{"id":84,"date":"2020-04-20T10:40:00","date_gmt":"2020-04-20T10:40:00","guid":{"rendered":"http:\/\/stacygrove.com\/blog\/?p=84"},"modified":"2020-04-20T17:52:45","modified_gmt":"2020-04-20T17:52:45","slug":"what-you-need-to-know-about-building-your-own-house","status":"publish","type":"post","link":"https:\/\/stacygrove.com\/blog\/what-you-need-to-know-about-building-your-own-house\/","title":{"rendered":"What You Need to Know About Building Your Own House"},"content":{"rendered":"\n
\"Build<\/figure>\n\n\n\n

So, you want to build\na new house, eh? Well, buckle up. You\u2019ve got some work to do! <\/p>\n\n\n\n

Talk to a Lender<\/h2>\n\n\n\n

Not surprisingly, the\ndecision to build vs. buy starts at the exact same place\u2026 the budget! When\ndeciding to purchase real estate, get your financing in order FIRST. You simply\ncannot know where to look for land or what builders to interview without first\nknowing how much you\u2019re going to be able to spend.<\/p>\n\n\n\n

Loan originators can\ngive ideas of what kind of financing options there might be for your new home.\nMost builders will prefer to hold a construction loan for a variety of reasons.\nIf you get a loan for the amount of your project, overages will likely have to\nbe paid with cash from your pocket. (And, rest assured, there will be overages!\nThere always are.) Oftentimes, it will be more expensive for the buyer to hold\nthe construction loan.<\/p>\n\n\n\n

Interview Builders<\/h2>\n\n\n\n

It\u2019s at this point that\nyou should interview builders and get quotes from them. It can also be helpful\nto select your lot WITH your builder. <\/p>\n\n\n\n

As you have that\ninitial interview, discuss what your budget looks like and see what they might\nhave to say about your ideal location, type of home, and other details. Many\nlocal builders will have insight about topography and soil types that might\nhave a big effect on what you can and cannot build. Some builders will use what\nthey know about the lot to determine the type of warranty they\u2019ll offer on the\ncompleted home (this is super important).<\/p>\n\n\n\n

If you\u2019re working with\na realtor, have them connect you with a few builders they know and trust (and\nlikely have even worked with before). Or let your builder of choice know if you\nintend to have your realtor involved. Realtors can answer questions pertaining\nto lot value and the potential resale-ability of the home you\u2019re considering\nbuilding.<\/p>\n\n\n\n

Consider getting at\ndetailed quotes (including information about warranties and timeline) from at\nleast three builders. Make sure you\u2019re comparing like information, and ask your\nrealtor and the builders for further insight, if needed.<\/p>\n\n\n\n

Locate the Lot and\nPlan and Design the Home<\/h2>\n\n\n\n

At this point, you\u2019ll likely want to locate and purchase the\nlot for your new home (if you haven\u2019t already).<\/p>\n\n\n\n

Then you\u2019ll want to design the home, picking parameters for\nits size, layout, and style. You\u2019ll want to keep in mind any info you\u2019ve\ngathered about lot limitations or design decisions that may affect the future\nresale value of your home.<\/p>\n\n\n\n

In Tippecanoe County, you\u2019ll need architectural plans and\nsite plans to even apply for building permits. The architect will help you\nwith:<\/p>\n\n\n\n