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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When most people get a loan for a home, they are buying a house that is already built. That means they will take out a loan that covers the existing structures and the land all at once. However, when you decide to have a home custom-built for you, you will usually take out a slightly different type of loan. There are a few ways to handle the financing of a house that is to be built for you. Builder Financed Loans Many people choose to finance the new home construction through the builder. This can take a lot of the guesswork out of the financing. The builder handles the financing for the construction period until the home is complete and ready to move into. At this point the homeowner takes out a permanent, traditional mortgage on the home. The benefit of this is that you let the builder carry the financing and then basically buy the home from them when it is done. It saves you from having to do a dual mortgage, which is another option to consider. It also lets the builder carry some of the risk during construction. Taking Out Two Loans If you finance both the […]
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