The new home purchase process differs from the resale home process. Building a home from scratch will take from four to six months or longer from start to finish. You will also be involved in a lot more decisions about how the home comes together. Building a home can be a lot of fun, but it stretches the stress out over a longer period of time. Building is not a perfect science. As rewarding as the finished product can be – be prepared for some challenges. One great thing about building a home is you are involved in making the house “come together.” You will get to choose the lot, the elevation (the way the home looks from the street) the decorating features, the paint color, type of flooring, the fixtures, and make structural modifications. Building a home from scratch with a home builder will bring out your creative side as you customize your home to your taste.
SECRET REVEALED: Building a new home is not an exact science.
Once you have come to an agreement with the home builder on your new home price and terms, a flurry of activity begins. Your earnest money will be deposited with the builder or escrow/title company and will become part of your down payment when you close on the home. Your lender will update your loan file to make sure you are qualified for the new home price. You want to know your max qualifying loan amount so that when you go to the builder’s design/decorating center, you will know how much you can add to the home and still stay within your qualifying range.
As Excerpted From "Home Buying Secrets Revealed" By Kenn Renner, Copyright 2010 "All Rights Reserved" www.BuyHomeBuyingSecrets.Com - 512-423-5626 - www.BuyAustin.Com
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