that’s what we’re hoping for as well, literally 2 miles away so not like we wanna be fully hands off and only show up when it’s done. Just not needed there constantly all the time, in terms of interiors that’s fine I just meant more so to deal with things like delays and what not. Like I’ve said in other replies we’re just in a holding pattern right now until we can secure the funds which shouldn’t be this much of a hassle but because of our small business being a corporation it’s making it a bit more difficult. When finding a builder how did you go about it, any specific website or just searching reviews calling and finding the best price/person that fit your build?
Magmar_01
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How was the construction process like? Did you find a builder to handle everything and were kind of hands off? ideally we want to be involved but not have to micro manage or need to be available like 24/7 in regards to that. I did try with one local lender here in Georgia I believe it they were unable to do those types of loans. Private lenders is another option I’ve been recommended but I’m weary on the interest rates they’d charge for the loan
Had the agent selling the lot say it’s connected to sewer. I’d assume electricity and water is also readily available since it’s in an already constructed neighborhood. My next question would be would getting quotes from builders cost money? Or do they just take a look and give you the quote for free. Again this would be the first construction project I have so I’m not too sure the inner workings of all of this side of it.
As far as agent I’m not entirely sure as maybe it would be strictly through buying the land and maybe directing me to a builder? I’m in constant contact with him and he’s been professional and very attentive so far not super snarky or pushy on any deals or houses we’ve seen before.
Originally we’ve been looking at homes around the 600k mark. Ideally we can offer cash for the lot and get that substantially lower. As far as the plans I’d need to contact the agent for the one we want to “copy” not sure if they’re willing to give them up just like that but who knows.
The main issue with the house we want to copy is that it’s about 20 minutes away from our current home and in a slightly more sketchy area/neighborhood, which this may or may not change some things, but we own outright. So this would be a second home. This lot we found is within 7 minutes, and on substantially larger lot than the already built home we’re copying. 0.88 acres vs 9,000 square foot lot. The home itself I just saw is listed at 3400 square feet. All this to say we wouldn’t have an issue with housing while this home was being built, though of course we would like it to be quick and not have major delays.
In the end if we can get around to where that number of 525k is for the already built home then that’s extraordinary, we maybe expect to cost more (better area, bigger lot, etc.). As long as we do not exceed say 600-620k I think we would be extremely happy. But again like you said delays and such could happen. The biggest hurdle we have right now is just sourcing the funds to start the lot clearing, grading, then actual construction.
In terms of getting a builder to buy the land and then building the home, would us buying the lot outright first change anything or is it better to include the land and all in the negotiations. Second time home buyers but it’s been a while so we’re not really sure where to look and where to start. Obviously we want the least painful/stressful option so that seems like the best route to go for us but hoping it doesn’t cost us substantially more. The home we want to “copy” is listed for sale at 525k, but our agent said it’s possible to get the plans and get it built for less. The lot itself is 85k but has been listed for a while now so I’m sure it can be had for cheaper. Again we have the liquidity currently to outright buy the lot itself it’s just a matter of securing funds for the construction after we purchase the land or have the builder buy it then do the loan that way.
