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Publish Date: February 1, 2021
Building a home means you get to make decisions on everything from the number of bedrooms, to the color of the kitchen sink, to your home’s structure and efficiency. To help ease the stress of this exciting milestone, Fidelity Bank & Trust offers some tips to consider as you work through your home’s construction.
DO: CHOOSE A BUDGET WITH A CUSHION
DON’T: LET YOUR CONTRACTOR ADJUST THE BUILDING PLAN WITHOUT YOUR APPROVAL
It’s always a good idea to leave some wiggle room in a budget, but this is especially true with construction. Should something unexpected happen, you’ll want the extra funds available to continue building. Additionally, when there are various updates along the way, be sure your contractor keeps you informed, so there is no confusion on costs while the work is being completed.
DO: WORK WITH LOCAL CONTRACTORS AND LENDERS TO BUILD YOUR HOME
DON’T: RELY ON NATIONWIDE VENDORS TO KNOW THE BUILDING REGULATIONS OF YOUR AREA
Sticking to builders and lenders within your community not only helps to build the local economy, but also ensures you’re getting the most knowledgeable professionals for your new home. Depending on the city and county, there may be additional regulations or processes that need to be taken into account for both contractors and mortgage officers. The locality of these businesses can add valuable insight and potential savings opportunities throughout the period of your home’s construction.
DO: MAKE A FLOOR PLAN THAT ALLOWS YOUR FAMILY TO GROW
DON’T: FORGET ABOUT THE FUTURE WHEN SELECTING YOUR HOME’S DESIGN
Before you decide to downsize or trade up, consider your family timeline for your new home. If your family is just starting to grow, you may need more bedrooms in the coming years. On the other hand, if you are enjoying the benefits of grandparenting, you may prefer a first floor master bedroom, so no matter your age, stairs won’t become an issue.
DO: KEEP YOUR EYES PEELED FOR GREAT IDEAS
DON’T: LEAVE ALL THE DECISIONS UP TO YOUR BUILDER
Your ideal home should reflect you and your family. If the builders have ideas, be sure to listen; however, always voice your opinion on the matter as well. Some things like structure need to happen a certain way, but cabinets and flooring are completely up to your taste. If you’re still searching for some inspiration, peruse the pages of sites like Pinterest or Houzz to see what the latest home trends are.
Whether you’re considering a new build or are already in the process, Your Hometown Bank is here to guide you through the various stages of building your own home. If you’re curious on how to start making your dream home a reality, read more about what to expect in the construction loan process. Contact a Fidelity Bank & Trust mortgage lender to get started, or visit our Mortgage Center.
Related Blog:
Construction Loan: What to Expect
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