Buying a newly built home or a home that is in the process of construction has some benefits you won’t find in an older home. If you are trying to decide which route to go, consider these perks that you can only get from a new home. Choose Your Floor Plan If you choose a home that is not yet built, you can usually select from a number of floor plans that the builder has available. This allows you to choose the floor plan that works best for you. Some builders will even work with you to tweak the available plans to suit your needs exactly. Of course, this only works if you are willing to wait for the home to be built, but taking your time means you are more likely to wind up with the home you really want. You don’t have to choose solely from what’s already built and on the market. Choose Your Colors And Décor When you buy new, you can select the color scheme you want for the interior and usually the exterior as well. You can select flooring, counter tops, paint colors, and more. This means you can make the home truly your […]
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Building your dream home takes a lot of time and effort, but the end result is well worth it. Chief among the steps to building that home is obtaining a home construction loan, which differs from a traditional mortgage due to the fact that the home doesn’t yet exist as collateral. If you are considering new construction, take a moment to learn about the loan process. Who Obtains The Loan When it comes to new construction, there are two methods of obtaining a loan. The first is to finance it through the builder. This is a common method when working with a large home construction company, as these companies have access to a variety of financing options. The second option is to obtain the loan yourself. This is a more difficult approach, but allows you to choose from smaller builders for your new home. This route is generally limited to those with a strong financial situation and good history, as the bank is taking a chance on an unsecured loan. Length Of The Loan And Terms The terms of a home construction loan are quite different from a traditional mortgage. Most such loans are set for no more than a […]
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