This post was originally published on Sept 15th, 2014, and last updated on Feb 16th, 2021.
Instead of purchasing an existing home, you have decided to have a custom home built. HiLine Homes are a great way to get exactly what you want in your new home. From a master on the main floor to an outdoor living space, you will be able to ensure your home meets your needs and expectations. However, having a home built for your family is different than buying a new home or a resale. There are few things you should keep in mind.
1. Construction Finance
Getting a loan for the construction of a new home is not the same thing as a mortgage. In some cases, you can get a construction loan that becomes a mortgage when the home is finished. Other loans require you to get a separate mortgage after the construction is done. You will want to discuss all of your options with an approved lender to see what would be best for you.
2. Budget Matters
You are building the home of your dreams so it becomes easy to say yes to upgrades. However, some upgrades can add up quickly and make you exceed your budget. While certain upgrades add value, function, and beauty to your home you should have a final number in mind that you do not want to exceed. If you are getting a construction loan this number may be your pre-approval amount. You need to communicate your budget to your HiLine Home Consultant. They will work with you to help you meet your budget.
3. Questions
Feel free to ask a lot of questions. Your Home Consultant will appreciate your desire to be involved and understand the process of building a new home. By asking the right questions, you will find fewer surprises during your build. Make sure you understand what responsibilities you have during the building process.
At HiLine Homes, we are ready to help you navigate the challenges of a custom home building project. Please feel free to contact us with any questions or to schedule an appointment at one of our model homes or showrooms.
Financing, Custom Homes
