If you’ve decided that now is the best time to start a custom built home, you are not alone. Logically today is a great time to build because of interest rates, affordable loans, and a drop in labor and materials costs in many areas. In all my years this is probably the best time I’ve seen to buy or build a custom built home.

Custom Built Home Decisions

Once you’ve decided now is the time, assess your situation and decide what you really want in a home. How many bedrooms would you like? Do you want a formal living room and separate dining room, or would you prefer a huge expansive great room with kitchen living room and dining room combined. How many floors? Consider these things, and figure out an approximate square footage.

Now decide how much you could afford to spend on a new custom built home. A house payment should be no more than one third of your income or rather your total credit payments should be no more than one third of your income. In order to calculate how much you can borrow, add up your monthly car payments, credit card payments and any other payments that would be considered credit, and subtract that from one third of your income. Now find an online mortgage calculator to determine how much money you could borrow without exceeding your maximum payment. Of course you do not have to borrow the maximum and might consider a 15 year mortgage over a 30 year as well, so do the calculations for both to determine what your family could afford.

Armed with this information, it is time to call a few home builders or contractors to set up an appointment to discuss your home building ideas with them. See what different home builders and contractors have to offer before making a final decision, and once you’ve decided they will help you design a home to meet your needs, and assist in finding just the right lot to place it on. I recommend you talk to at least three builders or contractors. Then once the lot is selected and the floor plan has been finalized you will be asked to select various design details, materials and elements such as floor coverings, cabinetry, and appliances.

Once all the details are agreed upon, and your loan has been approved, the contractor or home builder will present a sales agreement or contract. This is a legally binding agreement so look it over carefully, and ask about anything that doesn’t seem clear. Clarify the details of the contract before signing it. It’s also a good idea to have an attorney look it over.

After the contract has been signed the actual construction of your custom built home will begin. Subcontractors will be involved and as the home takes shape, there will be more minor decisions to make on specific hardware, color schemes, and light fixtures. It is a good idea to visit the construction site frequently to check on progress and see how things look. Have a custom build home built can take about six months to a year, but it is a very interesting and exciting process, which you should be involved in at least as an observer. Once your custom built home is completed you and your family will be able to move in, and enjoy the wonderful work of art that you, the designer, and the contractor or home builder have created.

Custom Built Home Overview:

1. Decide what you want in your custom built home.
2. Now decide how much you can afford to spend on a new custom built home.
3. Get in touch with a minimum of three home builders or contractors and discuss your home building ideas with them.
4. Select a home builder or contractor. Also select a lot or land to build your custom home on. You will need to sign a contract before building will start.
5. After the contract has been signed the actual construction of your custom built home will begin.
6. Learn more about the overall custom home building process by downloading the free new home Steps Guide above and become savvy on custom home building from start to finish.

I hope you found this information useful. Good luck in building your custom built home.

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