HOW TO FINANCE YOUR NEW CUSTOM HOME

It is an exciting adventure to build a custom home for yourself, but there are many things you need to know. How do we begin? Which person should we choose? What about the cost?

Your biggest investment in life will be a new home. Before excavations begin, you need to determine what you can afford to pay and how you will finance the new home construction.

Let’s talk about how to get started working with a lender, and what types of loans are available for homeowners.

Financing Your Custom Home Construction

Although some homeowners may choose to pay cash upfront, the majority of homeowners prefer to finance their custom homes with a loan. Talking to a lender is a good first step in exploring your options for building.

Ask your custom home builder to provide a list of trusted lenders if you don’t have one. There are many programs that lenders offer and some might work better for you than others.

A lender will review your financial information to determine your eligibility. Lenders will typically look at your credit score and your employment history. They may also consider your debt obligations. These factors allow the lender to assess your financial situation and create a safe financial plan. The lender will send you a pre-qualification letter after the review.

There are many loan types to choose from so it is important that you determine the type of loan that will best suit your needs. There are programs available for first-time buyers, veterans, and rural areas. Remember that a mortgage amount is usually tied to the value of your home. The appraiser will need the building specifications and detailed construction plans to assist in the appraisal process since the home has not been built yet.

Builders will either choose to finance the project themselves or use a construction loan. It is important to weigh both the pros and cons before making a decision.

A Construction Loan is a short-term loan that can be used to pay for the cost of building your house. The lender will pay the money in stages according to a draw plan. Drawings are usually made at significant milestones like foundation and framing.

The best thing about a construction loan is the fact that you only pay interest on the amount of proceeds that are distributed to the builder during as the new home construction progresses.

One of the main benefits is that the house’s price is locked in when construction begins. Construction costs can fluctuate and builders might pass on increases to their customers after construction begins.

Once the home is completed, the construction loan can be converted into an end loan. This means that you will start paying monthly principal and interest. Some convert automatically, while others may require you to settle a second loan to convert to a permanent loan.

Home builders may not need a loan for construction, but will finance the project themselves during construction. Permanent financing would be obtained through a conventional loan after the completion of construction. You then settle on the property.

The custom home builder in Myrtle Beach will often require that you provide proof of your ability to pay the purchase price. To ensure your commitment to the build, you will need to pay a large deposit upfront. The pricing of the home can change during construction and these adjustments are often passed onto the buyer. If the interest rates at the start of your build are 4% and then 6% at its end, you will be responsible for the extra 2% you don’t have to pay.

Financing through a builder is not the best option if you want to customize your home to meet your needs. Builders may be less cautious about making any modifications due to financial uncertainty.

You can also apply for a VA loan if you are a veteran. VA loans are short-term loans that are available to active military personnel and veterans to help them build a home. These loans are very similar to construction loans. This loan is available to qualified builders only.

Building a home is not an easy task. Dawol Homes has the right team to assist you with every step of your build. Call us now.

Like our Facebook page for more great info about building a custom home.

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

TIPS FOR DESIGNING AND BUILDING YOUR CUSTOM HOME

A lot of people dream about building and designing their custom home from the ground up. The house may be for retirement or for raising a family. Either way, a plan will make all the difference in making your dream home a reality.

However, building a home from scratch is not an easy job. When you find the site, the process is much more likely to take at least one more year and will involve at least an architect, a custom home builder, an engineer, and even specialized designers for the bathroom, kitchen, as well as other elements.

Choosing an Architect

In many cases, the most suitable place, to begin with, is an architect who will design your home and come up with blueprints that you can use to get bids from custom home builder Myrtle Beach.

There are companies that provide design-build services, which have minuses and pluses. Since the architect, as well as the builder, are part of the same firm, they have already worked together. But you will not have the opportunity to get bids from other builders once the plans are prepared.

Ideally speaking, you would like to look for an architect before you purchase the land because not all lands are created the same. Apart from the general location, which is crucial for all homeowners, you have to evaluate how suitable the lot is for the new home construction, what are the available utilities and how the property can be reached by road. You should also research the county and city rules to know what kind of house could be built on the land.

After you have chosen the site, the next thing to focus on is the design of the custom home in Myrtle Beach. When choosing an architect, you should ask a lot of questions regarding the design process. When choosing an architect, you should ask a lot of questions regarding the design process.

Don’t forget to collect photos of the room that you like and don’t like even if you do not know why specific rooms appeal to you than the others. Share all these with your architect while also outlining the basic details of the house like the number of rooms, levels, and the floor plans.

Choosing A Custom Home Builder

When you and your architect have agreed on a design, the latter will create blueprints that you can use to get bids from at least three custom home builders. Ask everyone that you know for recommendations including your real estate agent and your architect.

When you have narrowed down your choice to two custom home builders in Myrtle Beach, the next thing to do is ask for references and talk to their past clients. Visit the homes that they built if possible. The contract must also be detailed and must include specific information down to the fixtures as well as appliances that you wish to be included.

Find a builder whom you can work with and one who will be comfortable working with your architect. For the next year, these two people will be a part of your life and will be instrumental in getting the home of your dreams.

Call Dawol Homes if you are looking for an expert custom home builder who you can trust to help you build your dream home.

Like our Facebook page for more great info about custom homes in Myrtle Beach.

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

WHAT YOU NEED TO KNOW BEFORE HAVING A CUSTOM HOME BUILT

Having a custom home built is a dream come true for many. However, if it lacks proper planning and research, it can easily become any homeowner’s worst nightmare. With nearly limitless options to choose from, it is very easy to see your budget get out of hand.

Dawol Homes have helped several clients in building their dream custom home and in creating a strategic budgeting plan to make sure they are prepared throughout the construction process. Provided below are a few key guidelines that can help make sure that you do not wind up in over your head.

Who Builds Your Custom Home Matters

Having a custom home constructed is a significant financial and emotional investment. Therefore, it is important to choose a custom home builder that you can trust. Do not just agree to work with the first charming person that you come across with. Choose an honest and transparent builder because he can help you save money. In case you cannot start candid conversations from the beginning about the markups, budget, or subcontractors then you may just have to continue looking for a better fit.

Set A Budget, Know The Scope Of The Work

The more detailed the budget and the plan, the easier it will be for you and your custom home builder to prevent any unexpected expenses. Set an allowance for fixtures. Choose where to purchase the materials and determine the expenses that are not included in the scope of the contract. These are crucial points to talk about because they can significantly change the bottom line for the new home construction.

When you are constructing a house from the ground up, there are going to be countless decisions that you had no clue were coming. What kind of wood do you want to use for your floors? Do you prefer standard or planks? What finish? Stain? Check out interior design websites so you can prepare yourself in making an informed decision once the time comes. Keep in mind that deciding on the fly can cost you.

You Will Always Encounter Something Unexpected

Since construction projects could easily go over budget, it is important for you to build your custom home in a contingency cushion. It is recommended that you have between 10 and 15% contingency for the budget and expected completion date. Given that, do not hesitate to be assertive. You should push back when needed. There might be real issues that come up during the construction process that will slow things down. However, if those issues are costing you too much money, you do not need to just listen politely and take it as it is. You should advocate for your stake in the process.

Research is Key

Find friends who have gone through a similar process or ask your builder for some referrals. Ask them about their experience. What do they regret not including in their budget? What caused them to go over budget? Learn from their mistakes so you can save time and money.

Compare Prices

Compare prices from one shop to another to make sure that you are getting the best deal. You should also take full advantage of the builder’s discount. Always remember that your custom home builder will get better rates with suppliers.

Be On The Job Site

If your Myrtle Beach custom home is being built, have someone visit the site every single day. You need to know the number of people working on your home and what they are doing at any given time. In case you notice a subcontractor who you are not familiar with, find what his job is.

Call Dawol Homes if you have finally decided that you want your dream home built by a professional and reliable team of custom home builders.

Like our Facebook page for more great info about new home constructions.

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

CUSTOM HOME CONSTRUCTION NIGHTMARES YOU NEED TO AVOID

Building your own custom home or starting a renovation could be risky. You have to know the many different risks, anticipate, plan, as well as solve them. You need to know the things that tend to go wrong on a custom home building or renovation project and look for possible solutions.

Wrong Custom Orders

You have ordered the wrong custom material. Perhaps it was cut incorrectly or there was an unexpected flaw, that you cannot install as is.

Before you begin the project, you and your builder have made construction specifications. The construction specification is made to detail the materials that need to be ordered for the job. Check the project specifications with the custom order’s copy that was placed by the contractor with the supplier.

Blueprint Confusion

One problem you have to avoid is if your custom home builders in Myrtle Beach are working off an outdated set of blueprints. This is going to be a problem for your contractor and it will cause a delay in your schedule.

Be sure that your subcontractors are using the latest plans. Don’t forget to date your plans to get rid of any confusion about which ones are current.

Delays

You could just rent another place or you can stay with your family for a few months while the home construction is ongoing. What guarantee do you have that things will go as fast as possible?

You should request a production schedule on your contract so that you could monitor the progress of your contractor. Job site managers tend to create a project schedule where blocks of time are indicated for every task. You have to communicate with your site managers on a regular basis about delays in the construction schedule. What are these delays? What will the consequences be? This type of discussion could result in a solution.

There are several possible reasons for delays. If there is a problem and there are delays, you as well as your home builder and the entire team have to address them as soon as possible.

Unexpected Construction Costs

Unforeseen circumstances such as bad soil, dry rot or termite damage, tend to appear during construction. In case you come across one of these issues, the only alternative to avoid emergency spending is to stop the whole project. Before starting your project, you need to create a budget. Be sure to allot funds to cover any unexpected cost that is not the fault of a contractor or manufacturer.

Your construction agreement deals with unforeseen circumstances and when additional work is needed, your custom home builder is entitled to more cash. If, on the other hand, there’s doubt as to if the situation were unforeseen, you need to get a full explanation.

Custom Home Builder Mistakes

There are instances when a custom home builder in Myrtle Beach or a subcontractor thinks he or she has an effective way of completing a certain part of your plan or he or she has a remodelling idea that you would really like. However, there are instances when they end up deviating from the blueprints and you wind up having something that you don’t like. It’s better to discover the mistake as soon as possible. Dealing with a deviation could be as simple as moving a wall stud or repositioning a window or a door.

Call Dawol Homes if you are looking for a custom home builder who can help you build your custom home.

Like our Facebook page for more great info about new home constructions. 

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

BUILD YOUR OWN LOT WITH A CUSTOM HOME BUILDER

You likely have many questions when you are considering hiring a custom home builder for your dream home. One of them is “Where can you build my custom home?”

There are many custom home builders in Myrtle Beach. The answer is that they only work in certain neighborhoods.

This can severely limit your options when it comes to many important factors such as location, community, amenities, and so forth.

Some custom home builders offer clients the option to build on their land. This could be a parcel they already own or a lot they are looking to purchase. A custom home builder may be the best option for you to realize your home-building dreams.

Benefits of Building on Your Own Lot With Custom Home Builders

Many of the advantages of owning your land are obvious.

1. Instead of being restricted in your choice of location, you have the freedom to choose any neighborhood within the area of the home builder.
2. You can choose to live in the city or out in the country. You also have control of the amenities in your neighborhood, such as proximity to parks and school district zoning.
3. You can also choose the land type that is most suitable for the home you wish to build.
4. Do you long for a peaceful, private retreat from the hustle and bustle of modern life? Maybe a lot that is rural and wooded will be the best for you. Perhaps you already know the type of home you desire, such as a ranch style split-level home. You would like to find the best lot for your architectural style.
5. The reason many people choose to build a custom home is to work with their builder to create their unique vision. This includes the chance to build on their lot.
6. Don’t fall for these pitfalls when you build on your own land
7. It’s easy to make costly errors when building on your own land. These common pitfalls can be avoided by hiring a professional home builder.

What can go wrong when you choose a lot of things? Well, a lot, no pun intended.

A parcel of land that looks easy to build on may have expensive problems when viewed by an expert in building custom homes. This is especially true if you are looking for a lot that is less developed or in rural areas.

Although you may not think about electricity, natural gas, or sewer and water connections at all, these can be costly problems that are outside of your home.

Basic utilities such as electricity, water and natural gas will not be an issue if you’re looking to build your home on your lot within an existing community. However, this doesn’t mean that there won’t be issues with the lot that you aren’t aware of.

How can you tell if the potential lot requires support from below-ground foundation piers? How will you know if the parcel of land you are interested in requires extensive and costly excavation? Are you familiar with the details of easements, property lines restrictions, architectural guidelines and zoning lines that could affect your potential lot?

Although it might sound frightening, this is not an excuse to ignore the opportunity to build on your land. All of these issues can be costly, which is why it’s important to find the right custom home builder.

If you are looking to build your dream custom home on your lot, a custom home builder can help you with the following

Working with a custom builder is a great way to get the following benefits:

• Expert assistance in finding the best land for your needs
• Guidance on issues such as the placement of your home
• Get insight into the operation of outbuildings, pools and wells.
• Identify any problems with the septic system
• A skilled custom builder can help you even if your land is already owned. A home builder who has worked with customers with existing land can still help.

Dawol Homes can help you build your dream home. We are happy to help you find a lot to suit your needs.

Every project we take on begins with an assessment of potential land lots. We make sure every problem is addressed and we produce specifications and preliminary plans that will fit within your budget.

We are uniquely qualified to create the home of your dreams on your lot by adapting existing plans to fit your needs or creating completely custom plans.

Although there are many things that make us stand out from other custom builders we believe it is our ability to work with clients and create their own land work that sets us apart. We consider this a standard service and not something extra!

Call Dawol Homes us now if you need help in building your dream home.

Like our Facebook page for more great info about new home construction.

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

WHEN IS THE BEST TIME TO BUILD A CUSTOM HOME?

When is the best time for building a custom home? It was always spring or summer, as that is when most people start building houses. Depending on your goals, spring or summer is the best time to start. Fall, and very rarely winter, are better times to get started. Depending on your goals, this could be a good time to start.

You might think about starting your home in winter if you live in an area with a mild winter. Winter isn’t the best time to build. While it is possible to build in very cold temperatures, and even snow, these special preparations can increase new home construction costs and time. In most cases, it is not a good idea to start construction in winter.

Let’s discuss briefly whether construction should be started in the spring, summer or fall.

There are pros to starting construction in the spring and summer. The weather is generally better and the days are longer so construction will usually go more quickly. If you want to build your house as fast as possible, it is best to start construction in the spring and summer.

However, if you are more concerned about saving money on labor and materials, then it is worth considering starting construction in the fall. Although it may take longer to finish your custom home, you can save a lot of money. Here’s why:

Fall is the off-season for new home construction in Myrtle Beach. There’s less demand for labor and materials, so it is possible to get bargain rates.

A builder said that fall is a good time to start building. He mentioned that he has the advantage of being in a buyer’s marketplace for both supplies and trades. He stated that lumber prices rise in spring and then drop in fall.

This is what a local contractor told me recently, and it is why I decided to investigate this topic.

The best time to build your custom home in Myrtle Beach is when the weather is dry and cool. Depending on where you live, the exact year of cool and dry weather will vary. It’s usually cool and dry in autumn in many parts of the US. In some places, however, it rains if it’s cool. When it comes to weather, the best time for building a home depends on where you live and what the weather patterns are in that area. You can find out the weather patterns for your area by doing a quick internet search.

You will also be able to schedule subcontractors better, due to weather and pricing considerations. The fall will give you the opportunity to schedule subcontractors off-season. They will also be less busy during your project, which will make them more likely to show up on time. You may also be able to get higher-quality subcontractors to work on your home because they are less busy during the fall. It is easier to find a foundation company or framing crew during the fall. Many of these crews are fully booked in the spring and summer.

You will also find that banks, title companies, regional government agencies, and mortgage companies are less busy in the fall, so it is easier to get permits and inspections.

There are downsides to starting construction in the fall:

If you haven’t completed your excavations, foundation work, and exterior work by the arrival of cold weather, you will need to make special preparations for winter construction.

Subs won’t work as much in the autumn as they would during summer. This could prolong construction and, in turn, increase interest costs.

Weather delays will likely increase in autumn.

Consider whether you want to move in during the fall or summer. It will take at least one year to finish a house if it is a complex or large house or you are an owner builder. A typical single-family home built using a general contractor takes about 8 months from permit to completion.

If you hire a custom home builder to construct your home and you want a house of average size, it is possible to move in the spring or the summer if construction begins in the fall. If you reverse the process and build your house in the spring, as most people do, then you may have to move in around the holidays. It will be cold in certain regions. However, it will also be stressful. Most people already have enough to do during the holidays. It might not be a good idea to add a major move.

In summary, if you want to build your house quickly, then start construction in spring or summer.

If you are more concerned about saving money, then consider buying a house in the fall.

Call Dawol Homes now if you want to build your dream home.

Like our Facebook page for more great info about custom homes.

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com

RED FLAGS WHEN HIRING A CUSTOM HOME BUILDER

When you are looking for a custom home builder to help you build your dream house, there are some important characteristics that you need to be looking for. However, apart from searching for the best traits, there are 10 red flags that you also need to watch out for.

Hiring A Custom Home Builder

1. The custom home builder in Myrtle Beach asks for sizable initial deposits or down payments before they start working on your custom home.
2. The custom home builder does not provide any written contract. In case they do, what they present is a poorly written one.
3. The builder offers a price that seems too good to be true. 
4. The builder cannot provide a clear work history.
5. The Myrtle Beach custom home builder cannot or will not give a complete estimate.
6. The builder depends mostly on allowances for their final bid.
7. They use high pressure sales strategies.
8. There exist several unresolved claims from the Contractor’s Board.
9. The builder cannot provide proof that he or she has insurance.
10. The custom home builder says your house, once built, will be used as part of their marketing strategies, and that is why you will be provided with a low rate.

A few other red flags include the builder’s inability to provide references. In case they do give you a list, there is no way for you to verify if they exist. If the builder does not want to provide you with evidence for workers compensation or insurance for general liability. Finally, the custom home builder provides you with a lump sum or an estimate that is too general and lacks important details about your new home construction.

Searching and choosing the best custom home builder for the construction of your dream custom home can be quite difficult and even awkward in some cases. However, you are on your way to making a huge investment so you have to be sure and confident about your decision. You have to do your homework and fully understand the procedure. If you do all of these, you will surely enjoy the rewards by having a beautiful home that is built according to your specifications.

Call Dawol Homes if you want to make sure that you are working only with the best custom home builder.

Like our Facebook page for more great info about new home construction.

Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com