So you want to build!? Whether it be an ITB teardown or buying a home in a master planned subdivision development, let our experience help you guide you to your first or next brand new home. Let's take a look at some of the options and here are some questions you will need to consider along the way. Will you be able to finance the purchase of the land and construction of the home without selling the home you are currently living in? This is best answered by speaking with a qualified lender, of which we have several we prefer. If the answer is yes, then we would put our team to work finding any on and off market options for available land, potential homes to tear down and start new, or opportunities where the plan has been chosen already but certain selections can still be made. If you have a builder in mind, all the better but if not then we have a curated list of preferred builders to check out. Many times, some of the most desirable home sites are already owned by a particular builder. In that case, we review any special contracts that the builders may use and vet them on your behalf. In those cases the builder generally finances the construction and then you obtain conventional financing to purchase the house when it is complete or has a Certificate of Occupancy. We also work with several lenders specializing in construction/perm loan options if we are able to locate a site not attached to a particular builder and you wish to purchase it and build your new home. As far as home design, many times the builder has a preferred architect whereas others are open to your choosing. Either way, it is important to have an idea of the style (pictures are great for this), approx. size, beds & baths and garage needs when meeting with the architect. When it comes to pricing a new home, if the plan has already been picked but not built yet then it comes down to setting allowances for the selections that can be made such as countertops, lighting, plumbing hardware, flooring options and more. Basically you will need a plan first in order to get pricing and even then it can vary based on the selections made or the allowances given for them. If you DO need to sell your current home first before closing or building a new one then don't fret, there are still options. In this case, we would want to focus on land already owned by a builder or developer looking to do a presale (sold before it is built). You will still need a sizable cash deposit on hand, usually 10% for a home not substantially complete that you will be making the selections for and customizing. This amount could be less if the home is closer to completion. If this cash is not hand and you are looking to use some of the equity in your current home, then a cash out refinance is possible to unlock some of the equity in your current home before selling. Of course we will still need to sell your home prior to moving into the new one, which of course we can help do. However, in this case it is advisable to have a "temporary" shelter option or AirBnB ready to rent in case there are any delays on the construction or we need to close on your existing home before the new one is ready. The long and short of it is that no two situations are alike and we hope you will rely on our vast experience when you are considering the purchase of new construction.