If your plan is to start looking for a home to purchase in the spring of 2016, you may want to consider building a new home in the fall of 2015. Fall is an opportune time to start your new construction project as most aren’t even thinking about building a home in the fall or winter. However, with decreased demand and workload, your winter new home project can be completed on-time to beat the spring home buying rush.
In some parts of the country, you would never think of attempting a new home build heading into winter. Thankfully, with the mild winters that are typical in the Charlotte area, the home can be under roof and sealed up without some of the delays that can befall a spring build.
What’s needed to get started?
If you are looking to build in a neighborhood that is under construction with a production builder (Ryan, Ryland, Orleans, etc), starting a new build is as easy as visiting the neighborhood with your realtor, selecting the plan and home site, placing the deposit and applying for financing.
Custom home builds will require a bit more leg work but are well worth it in the end. To start with a custom build, first interview with a builder and architect (preferably a tandem that has worked together in the past so they can know how to communicate) that can deliver the style and budget that you’re looking for. Financing is next and local lenders like Bank of North Carolina can offer a Construction to Perm(permanent) loan based on your builder’s schedule. Next is finding a suitable building lot.
This can prove tricky if you are building in-town but a little creativity can go a long way. If you’re striking out in the vacant lot department, consider buying an existing home in a neighborhood that you prefer, and tearing the house down. One of the new challenges that can arise with tearing down an older home is lingering environmental issues such as a ruptured underground oil tank; common in areas where underground heating oil tanks were buried, abandoned but not drained properly.
A reputable builder will know the obstacles to look for and cost-effective solutions for each issue. Contact me for more information on new home construction