The decision to build a custom house is exciting! At the end of the project, you will get to move into a brand-new home that meets your lifestyle and needs perfectly. If you are near the beginning of the custom house building process, here are some tips for budgeting for the project, so you continue to feel good about your investment:
- Plan early—Even if you plan to be in your current house for another year or two, start thinking about what you want to spend on a custom house. Take into account factors like your projected income, what your current mortgage is, and what you would feel comfortable paying for the home of your dreams.
- Talk to a lender—If you are like most people, you will probably need to secure financing to build your custom house. Talk this idea over with your lender to find out what type of financing options are available to you and what interest rates are like.
- Stay realistic—Your custom house is an opportunity to get exactly what you want from your home, but this does not necessarily mean you should go crazy with the design. Figure out what is most important to you in your home and which features you could live without if pricing becomes a concern.
- Pick the right builder—At Woodcastle Homes Management Inc., we want to help you successfully plan the financial side of building a custom house. As your builder, we will go over different home plans at different price points and help you find the perfect one for your budget and lifestyle!