Step 1 The Decision
Now that you have your financing in place, it's time to make a decision. What type of new home do you want to pursue.
There are three types of new construction, Custom, Semi Custom and Spec.
Custom is when you buy a lot, find a builder and get your true dream home. This is a special type of project, not for the faint of heart, and is better left for a blog or two, all by itself.
Spec is a home in a subdivision, which is built by a builder, with many of the most desirable features already added to the home. They are also called inventory homes, and you can usually close quickly on this type of home. The only draw back is, you can't have it exactly the way you want it.
Finally, we have the semi custom, with this, you can usually pick the lot, the style and all the finishes you want or need. This allows you to move around interior walls, have four bedrooms instead of three. And get that kitchen or fireplace, that you just know you just can't live without. This type of home, generally takes from six months to a year from initial deposit to move in.
One thing to keep in mind when buying a new construction home, is that, you are a modern pioneer, you and your neighbors are clearing the land and building from scratch. There may not be a complete infrastructure of stores, restaurants and entertainment close by.
But the rewards of watching the area grow around you is an experience every American dreams of, the little trees you plant, the landscaping, the yard, as well as the many interior designs and touches grow in your memory and will be there years later, when the kids are moving out to look for their new family homes.
Well, it's time to make a decision, what type of home will it be?