How Long Does it Take to Build a Custom Home?
There are many things to consider when you decide to move your family. Are you going to by an existing home? Are you going to build your dream home? If you choose the latter there are a few things to consider since this is going to be a rather large undertaking.
Unless you are a jack of all trades it is more likely that you are going to hire a custom home builder.
You should understand all of the decisions that are going to have to be made from the area the home will be built to the items like flooring kitchen cabinets etc. Having a good relationship with the builder you choose is going to make your life a lot easier.
The time it takes to build a custom home will depend on the size and complexity of the home, where it’s being built and the time of year. It could take anywhere from 10 to 16 months to build, depending on its size and assuming everything goes according to plan. In addition to the time it takes to build the home, you will need to account for time to have the home designed, or purchased plans modified, as well as having the plans approved by the local building department. For an architect-designed custom home, the design process can take three-to-six months or longer plus an additional month for permitting.
Most custom home builders have developed good processes to avoid delays and can get a new home built with final inspection complete before the projected close date so the buyers can move in when needed, especially if they are on a tight schedule because of relocation or the sale of another home.
Financing your custom built home.
Since building a custom home is considered risky by lenders, you typically need excellent credit and a down payment of at least 20% to 25% to qualify for a construction loan. In addition, lenders typically require more cash reserves for borrowers who are building a custom home to ensure that they have funds in place for any glitches that extend the construction period.
Avoiding delays and cost overruns
Planning your home from the foundation to the roof and every single item in between can save you time and money when you are building a custom home. Your decisions about every detail in your home should be made before construction begins so you can reduce the possibility that materials won’t be available when needed, or that you will need to rip out things already built to accommodate a change order.
Choosing the right lot for your custom built home
Choosing the right lot to build on the best way to avoid price shocks later on is to conduct a feasibility analysis of your custom home site before buying the lot. Doing so will give you peace of mind knowing exactly what you’re getting into before you build.
There are right ways to go about building a custom home, and wrong ways. Who you choose to work with is as important as how well you plan. Follow the advice above and you can avoid the most common traps that people find themselves in, and save a lot of time, money and stress as a result.
In Minneapolis, Saint Paul Contact CT Construction for complete home, bathroom, kitchen and custom home designers and builders.