If you have been searching for the perfect home but falling short, building one may be in your future. Inventory for homes that meet needs beyond having the right number of bedrooms and bathrooms is woefully low. And competition is fierce for the ones that are available, meaning that prices are high. Because of this, building your own home makes a lot of sense, particularly if you plan to be there for many years to come. Here are some tips on how to get started and what to consider when looking for professionals to help you through the process.
Ronald Christopher & Associates can help you find an accessible home that accommodates your needs. Call 760-360-2300 or complete this form!
Getting a Mortgage
Contrary to what you might think, getting a mortgage for new construction is not the same as obtaining financing for an existing property. As Investopedia puts it, “A standard mortgage loan won’t do the trick.” Instead, you will have to apply for and qualify for a construction loan, and you’ll likely have to put down at least 20 percent. You’ll also need to go into the loan application with a plan, as your lender needs to know that you are serious about building. Keep in mind that, for them, a property that does not yet exist is a significant risk. Anything you can do to assuage their concerns is better for you.
Where to Build?
You’ll also need to know where, exactly, you plan to build your home. When you are building an accessible structure, you may be best off looking for a flat plot of land, which makes it easier to ensure a stairless entryway. Make sure that you partner with a knowledgeable real estate professional from when selecting your new front lawn. They can help you determine if your proposed home violates any codes. This is crucial if your plan is to build an accessory apartment for an adult child or aging parent. They can also keep you from making a huge mistake by purchasing a piece of land that does not have access to running water or electricity.
Choosing the Right Home Builder
In addition to your real estate agent, your home builder is someone that you have to learn to rely on throughout the process. Having a trustworthy and reputable home builder is crucial. You cannot simply pick one from the first search result you get on the internet. You can use review sites to get matched with local pros. Make sure that you ask for both a quote and references from former customers as you interview homebuilders. Once you have narrowed down your selection, touch base on a potential timeline and look at their portfolio of accessible homes.
Don’t Forget the Interior
Another step that you’ll have to take before ever breaking ground is working with an interior design firm that understands accessibility. Make sure to ask about non-slip flooring options, bathroom and kitchen counters with wheelchair clearance, and other accommodations you and your family may need it. As you work together to create the ideal living environment, you’ll also need to consider doorway width and room size, especially if you plan to have over-sized furniture. Also, keep in mind that designing a home for a person with special needs doesn’t mean you have to sacrifice style either. There are many design concepts that seamlessly integrate with accessibility modifications.
Key Points
- New construction loans are not the same as a standard mortgage.
- The piece of land you build on is just as important as what you build.
- You can’t do it alone – hire a reputable realtor from Ronald Christopher & Associates, homebuilder, and interior designer.
- Home modifications should take you and your family’s needs into consideration.
Now that you are ready, congratulations on your decision to build. While there are expenses and considerations that may cause headaches in the planning stages, building your own home from the ground up means that you will always have a place to accommodate your lifestyle.
Image via Pexels
Comments(2)