Starting. Takes. Forever.
Waiting to break ground was the most frustrating part. It involved three major hurdles: Getting the floor plans approved by the development’s architectural-review committee, which meets monthly. Getting the final contract from the builder. Getting a construction loan from the bank.
Lots of expenses aren’t included in the price of the house.
You may pay $80,000 for the land, not including property taxes and property-owners association fees. Before construction could begin there are some preliminary steps required by the builder and the county where you reside. You might spend $1,400 for a required topographical map and tree inventory; $630 to outline the home’s footprint with stakes and tape; $800 for the architectural review; $3,000 to the development’s road-maintenance fund for wear and tear; $150 for a septic-system permit, and $450 to drill test holes for the septic system. These expenses couldn’t be included in the loan—because you don’t have a loan yet.
There are sneaky ways to save money.
Buying remnants of granite and quartz for the countertops instead of full slabs of stone saves several hundred dollars. You might pay only $100 for a floor-model sink that has been discontinued. You can ask the appliance store manager for a discount on a kitchen-laundry package. And finally, plant much of the landscaping yourselves and save an estimated $5,000.
Asked more questions about cost-savings upfront instead of just pursuing your dream design. Ask how much you can save if you choose a floor plan with a smaller footprint, but the same square footage? The cost of site prep, cement and roofing would be far less.
For more questions to ask before building a home go to bmre.us/tip9
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