Building a New Home

By Michael Binder

Real Estate Agent with 100 Pro Realty 3217814

March 19, 2018 10:29 AM

If the Lee Parade of Homes has inspired you to build a new home, here are a few things to consider:

Realtor Representation: Work with a Realtor that has experience with new builds, someone familiar with the process and knowledgeable of the builders in the area. Keep in mind, the builders' salesperson is focused on what's best for the builder and not always what's best for you! As I work with you as your Realtor, I make sure you get a great price, get nothing but the best in products and will be with you from start to finish.
Meet with a Lender to get prequalified for a construction loan, determine your budget even if you qualify for more. There are two options:
- Construction-to-permanent: You borrow to pay for construction. When you move in, the lender converts the loan balance into a permanent mortgage. It’s two loans in one.
- Stand-alone construction: Your first loan pays for construction. When it’s time to move in, you get a mortgage to pay off the construction debt. It’s two separate loans.
Find a Lot to build on: It's best to find a lot that already has utilities available and if it's on the water always check on the seawall.
Find a Builder: I have many connections with builders in Southwest Florida. We definitely want to work with a builder that has been in business for more than 5 years, has a good reputation with the BIA/Building Industry Association and maintains a good rating with the BBB/Better Business Bureau.