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| The home-building process is fraught with possibilities for either success and happiness or failure and disappointment. That's why it's very important to educate yourself thoroughly before you begin making plans for your new home. Being well-educated is the best way to make sure your expectations are in-line with the realities of custom home building. Here are some examples: | ||||||||||||||||||||
 Cost vs. qualityCost doesn't always equal quality. Many people believe cost-per-square-foot is a good measuring stick for comparing homebuilders, but many builders say selecting one on this basis alone ignores crucial qualitative differences among builders. |
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| Building a home Building a custom-home isn't a do-it-yourself project. Many people believe they can save money on a their home by acting as the general contractor. Saving any real money this way is unlikely and any potential savings are far outweighed by the possibility of disaster. Constructing a home takes experience and know-how. It isn't an appropriate project for the inexperienced. |
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| Select a builder Select a builder sooner rather than later. Some people try to save money by buying the land for their new home and selecting a home design before they consult a builder. Builders say it's well worth the expense to obtain a professionals input during the site-selection and design phases. |
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| Compare bids Compare bids closely. It's not uncommon for home buyers to obtain multiple bids on the construction phase of their new home, but builders say getting multiple bids isn't necessarily in your best interest. Bids can be difficult to read and compare. If you decide to obtain several bids, be sure they are based on identical specifications and consider the quality of the materials, the builder's qualifications, reputation and other factors in addition to the bottom line. |
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| Financing Find your construction and permanent financing. Some buyers are dismayed by the idea of getting a loan because they believe that financing is difficult to obtain. Nothing could be further from the truth. If your new home is well-planned and a quality builder is on board, financing typically should be relatively easy to arrange. Check here for Down Payment Assistance gift program information. |
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| Expectations Expect the best, you deserve it. Many people have heard at least a few home-building horror stories about excessive cost overruns, disputing builders and incompetent suppliers and subcontractors. While reasonable cost overruns and a certain amount of stress seem to be unavoidable in the home-building process, having a new home built certainly shouldn't be a nightmare. |
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