The prospect of building a house is exciting, but it’s also confusing. A custom home-build allows owners the opportunity to incorporate the features they’ve always wanted into their Dallas luxury homes, but beginning the process can be daunting. Here’s what you need to know.
1. Get Your Financing Together
Financing a custom home can be trickier than a conventional mortgage, as you’ll need a construction loan. If you don’t already own a parcel of land, you will first have to finance the property purchase before the construction loan. This often means two sets of closing costs and settlement fees, so be prepared.
Custom home-building may also require an excellent credit score and a down payment of 20%. In order to protect themselves from construction glitches, the ban may require extra reserves, as well. Keep all these things in mind as you begin your custom home research.
2. Hire a Contractor and Architectural Designer
When building a house, one of the biggest decisions you’ll make is your architect and contractor. Check references, review examples of previous work, and ensure the match up will be a good fit. Some people choose to find a builder first who recommends an architect, while others seek out an architect first. Tony McClung is a skilled Architectural Designer, both an architect and a builder, so our firm handles the entire process and eliminates any confusion. Tony will manage every step of building a custom home.
3. Plan, Plan, Plan
Once you obtain financing and choose the best partner from custom home builders, the fun (and real) work begins. Planning for every detail and contingency in your custom home can save you money and prevent potential construction hiccups. Planning your home from foundation to roof reduces the possibility that you’ll incur hefty costs from tearing down existing structures to accommodate a change order, or that materials you suddenly need aren’t available.
4. Keep the Lines of Communication Open
Now that you’ve finished the planning process, it’s time to break ground. Remember as you go through the construction process to communicate with your architectural designer. It’s much better to address any potential issues as they arise than to wait until they become a problem. It’s also a good idea to embrace flexibility – custom home-building is rewarding, but the best things take time. If you’re patient and open-minded, you’ll find the process of building your dream home rewarding.
Have questions about building your custom home? Feel free to reach out to Luxury Homes Designed and Built by Tony McClung. Tony is here and ready to help you walk through every step of building your custom home in Dallas TX.