Things to Consider when Contracting for a New Construction Home
When you decide to have a house built instead of choosing one that already exists, you will need to consider several factors that you may not usually think of when you look for a home. Here are some of the key things to determine before you get started.
The first thing to think about, of course, is your budget. You'll also need to consider how you'll structure your deal. New construction needs vacant land, and this can be purchased separately from the house or rolled together into one deal. It is typically harder to finance vacant land (alone) than a house plus land package, but if a land opportunity arises before a house deal does, it can be worth it to start with separate deals.
When looking for land, remember that its size is only one of the considerations involved. Be sure it is a buildable lot, and that the local regulations allow for your planned usage of it. Be on the lookout for HOA regulations that could interfere with your lifestyle and design preferences, and avoid areas with such problems. Every HOA is a bit different, both in what is allowed and how enforcement is done, so it's important to either check into this or simply choose an area that has no such organization.
Next, look for a home builder who can create the house that you want. If you're going for new construction, you almost surely want a company that makes true custom homes. After all, if you were willing to buy a house where the only thing "custom" about it is the color of the countertops, you wouldn't need to build from the ground up. Be sure that your chosen home builder can make this endeavor live up to its full promise!
Once you have a list of makers of custom homes, examine all of their portfolios. Many builders specialize in one or two home styles, and you should choose one who shows expertise in your preferred genre. Then, check out reviews of all of the candidates, and strike off any with overall lackluster scores. Finally, contact the remaining candidates and set up meetings. You should then be able to choose a single one to handle your project.
One final thing to keep in mind is that fully custom new construction is not always very fast. When nothing is standardized, it has to be built from scratch on site, and there are a lot of elements in a house. Delays can also be caused by the permitting process. Finally, weather plays a part in construction speed. That said, it is well worth the wait.