Before, During, After – The BEFORE Phase
If you’ve never built a new home before, the prospect of building one can seem daunting, and full of so many unknowns. That’s why we think it’s helpful to remember that it is a definite process and should be a fun one.
At BlueStone we understand that this process can be overwhelming but we will be with you every step of the way to make sure you dream becomes a reality. Take a moment to look them over. We think they’ll help you see that the big picture isn’t so big after all.
Before
Decide what kind of new home you want to buy.
What is your timeline? You need to decide if you want something right away or if you want to take your time and build a house to your specifications and your personal touch.
Need it Now:
You will want to look for a “spec” or “inventory” home. You have the benefits of living in a new home, but the initial design and building processes have already been determined for you.
100% Your Style:
If you have time and want to build a home that reflects your taste and style building from start to finish is the way to go. You have at your disposal infinite freedom in determining every aspect that you want to personalize to fit your lifestyle.
Personal Touch:
If you want the best of both worlds, you can purchase a home in mid construction which depending on where they are in the process will allow you to tweak finishes and customize certain parts of the home while saving time from some of the other pre construction decisions.
Decide on a builder.
Begin by selecting a builder who specializes in the type of home you want to buy. Important questions you don’t want to forget to ask:
When can they begin your project?
Do they offer a comprehensive warranty?
Are they financially stable?
Be sure to check their references and talk to past customers about the level of satisfaction with their homes.
Select a lot.
First things first, you can choose the location of your lot in a community. Additional amenities that accompany a community range from clubhouses and pools to golf courses and fitness centers so educate yourself on the entire community, as well as the proximity of the available lots to these amenities. Usually, lots located close to such amenities maintain a higher re-sale value.
Secure financing.
Figure out a budget. You need to know how much you want to borrow and for how long. Your loan will be approved at the finalization of the sales contract with the builder, but you won’t assume the mortgage until the house is closed. At this time you may also decide you want to add more options. Instead of making you pay cash, BlueStone will adjust your loan to account for the upgrades. Be prepared with your latest income tax returns, statements detailing your assets, your credit history and so on.
Below is what a bank will typically ask for:
- Pay stubs for one full month showing year-to-date.
- W-2 Form.
- Bank Statements with account numbers.
- Asset Statements: Stocks, Mutual Funds, 401(k), IRA’s, etc.
- Credit Card Statements with outstanding balances.
- Monthly Installment Payments with outstanding balances.
- Mortgage Payments with outstanding balances.
- Homeowner Insurance Statement.
- Property Tax Bill.
Select your home and options.
When selecting a home from an inventory of existing plans, you have to make some decisions regarding how many stories you want your home to be, how big your garage will be, the number of bedrooms you want and the amount of storage available. Only after you’ve made your selection can you truly customize your home. You can pick your floor plan and then the design options which include features such as appliances and flooring.
Let The Pricing Begin
Once your plans are drafted and approved, we will price out all materials, labor, and options for you. We only award work to quality crews of skilled craftsmen who take pride in their work – and it shows. We will consult with you on the final costs before drafting the final bid
Contacts and Commitments
Once all bids are received and approved, Bernie will draft a final contract then meet with you and your realtor. Once the contract is signed, we’re ready to begin building the home of your dreams!
Break ground.
The time it takes to build your new home varies considerably. It can take anywhere from 2 months to more than a year (most homes take 6 months from the time that the hole is dug for the foundation). The complexity of the home is a big factor as well as the availability of construction trades and materials, and, alas, the weather.
