Everyone dreams of having a custom home that ticks all of their needs and wants. The reality is that a custom home is actually quite attainable. Below we debunk some common myths when it comes to custom homes:
Myth #1: Custom Homes Are Only For The Wealthy
There are a number of factors such as size, style, and level of detail that come into play when it comes to the pricing of your custom home. There is a common misconception that building a custom home requires a lot of time, energy, and money that most people don’t have, which is simply the farthest thing from the truth. You can still build a great custom home with a modest budget. The truth is building a modest home just means that you have the ability to choose the materials used, how big the home will be, and what features will be included. A great custom home builder will help you find a suitable floor plan for your needs and budget.
Myth #2: Building A Custom Home Will Take A Long Time
Most people think that building a custom home will take longer than building a spec or production home. The amount of time it will take to complete your custom home will depend on the complexity of the project. Custom homes usually take a long time because there are a lot more options for the client to choose from. Essentially, the faster that you are able to make those decisions, the quicker the custom home building process will take. In addition, a builder that has an in-house crew will be able to plan the building process better than a contractor that subcontracts everything.
Myth #3: The Price Of A Custom Home Includes The Lot
In most cases, the price of your custom home will not include the price of the lot. If you do not own the land that you intend on building your home on, then you should consult with your builder and let them help you find a lot that has everything that you need. Having the right lot is equivalent to having the right floor plan.
Myth #4: Financing A Custom Home Is The Same As Financing A Production Home
You need to own the land of the lot where your custom home will be built, which means that you will be responsible for financing the home. Most people will need to get a construction loan in order to get their custom home built. These loans are different from traditional mortgages and will become a mortgage when the home is completed.
If you want to make your dream custom home a reality, contact Virtual Homes today.