Consultation - The home building process begins like this:
The homebuyer meets with the builder to set out the
architectural and financial goals for their dream home. The homebuyer may
already own a building lot or the builders may have one available. The homebuyer
tells the builder what they want and the builder tells the
homebuyer what they can get based on their budget considerations. The
buyer's goals for their dream home
should be outlined in a list of "must have" and "hope to
have" items and general thoughts about aesthetic and lifestyle
desires. The financial goals should include a target budget as well as
possible optional pricing items. The builder can then explore
options for achieving the majority, if not all of the homebuyer's goals.
Follow-up Meetings - The
builder presents alternate concept plans for the custom
home along with an outline list of specifications. During follow-up design
meetings the builder distills the concept plans into
schematic plans and elevations. This stage of the process will conclude
with a written proposal with final specifications. Up to this point in the
process, the homebuyer typically has not made any financial commitments.
Contract Meeting - At this meeting
the builder presents the formal contract
and specifications in order to finalize the schematic plans into a working
set of construction drawings and in some cases the civil engineering plans
for the permitting and construction of the owner's home.
Financing the Custom Home
Purchase - Typically, custom homes are constructed using
the implementation of a vehicle called a "Construction Loan".
It is important to select a financial institution that specializes in
these loans since loan packaging and servicing during construction are
more complicated than the standard 30-year mortgage.
Finish Selections and
Building Process - After the processing and approval of the building permit for the custom
home, the builder assists the owner with the finalization
of all the selections of materials and finishes which make up the custom
home. Construction now begins and the owners are encouraged to stay
involved throughout the building process. Many custom changes have even
been made during the construction phase of the work.
Home Delivery - At the completion of the custom home,
the builder will walk
through the home with the owner to review construction finishes and
details along with the review of all included appliances, equipment and systems.
The builder will provide a One Year Warranty on workmanship at closing.
The builder will provide the needed follow-up work as provided by the home warranty. Homeowner satisfaction is the life-blood of future
work for the builder with referrals from satisfied customers
accounting for a large share of new
Mike Burns, CRS,
The Real Estate Group, Inc
5725 Windy Dr Suite E
Stevens Point, WI 54482
Direct: 715 295-5008
Cell: 715 498-1248
Fax: 715 295-5006