Oftentimes, custom homes remain the most misunderstood section for the home hunters. Precisely said, many prospective home buyers end up buying an existing ‘spec’ home while planning to buy a customized home. It’s because their basic calculation of the process goes completely wrong.
Generally, the ‘custom home buyers’ in Tampa proceed with looking for an architect who will design the layout of their dream home. After that, they will visit several home builders 33611 and show the plan. Among them, they will pick the one offering to complete the project at the most competitive rate.
However, the reality is exactly the opposite. First of all, you need to pick a builder experienced in customized home designs. Then, the builder will use his network to help you find a lot where your house can be built. He will assemble his real estate agents, architects, and engineers to inspect the potentiality of the lot. As such, the overall process becomes smooth, quick, and cost-effective for the buyer.
An in-depth understanding of the new construction market is important to find a lot. Some of these constructions have custom projects while others have ‘spec homes’. Unlike a custom home, spec homes are built on the speculations of the best home builders 33611 so that they can be easily sold to the buyers.
Many lots come with hidden challenges. Some of these challenges like lack of public water and soil quality may add to the overall cost of construction or even delay the process. With an experienced buyer on your side, you can easily complete the due diligence within a week.
Buyers also lack vision. As a result, they fail to understand the importance of having a gentle slope at the front and backside of the house. Such a slope ensures better drainage. On the contrary, they look for perfectly flat lots. By the time, they understand the role played by a slightly sloppy lot, it’s too late. Their builders have already started working on the project.
Financing also comes as a major issue to a buyer. In traditional mortgages, the lender wants to know whether the borrower is going to make that property as his actual residence. If the buyer is planning to resell the home, he cannot answer positively. This further limits his financing options. Either he has to pay all in cash or has to go with construction financing.
Paying in cash is always a safe choice as compared to construction financing. The buyer has to enter into an agreement with his selected home construction company 33611 to pay the lot owner with construction financing. Therefore, experts recommend getting a builder and starting the home hunting process.
The Bottom Line
Building a custom home involves a lot of steps. From framing a budget to finding a lot to make changes in the design, a builder has specialization to carry out the entire process faultlessly. With the professional assistance of a right builder, your journey towards building your dream home will become a rewarding experience.