How to get started building your custom home for less: Part 2
In How to get started building your custom home for less: Part 1 we talked about the first steps in getting the custom home you dream of by becoming an owner builder with the help of Green Built Custom Homes. Now that you’ve been approved for your building loan, what’s next in this exciting process?
Creating a line item budget
Since you have now been approved for your loan, you will need to allocate funds to the different areas of your home building project. Having an extensive budget will help keep you on the right track to getting your dream home and keeping that extra money in your pocket. Keeping your budget in mind will also help you make well-informed decisions and keep you more aware of where your money is being spent. At Built Green Custom Homes we will be with you step by step to make sure you budget your money in the most beneficial way. BGCH uses an extensive line item budget that covers all types of costs that you will need to consider, that way there are no surprises down the road. But how do you know how much everything will cost? Creating a line item budget goes hand in hand with our next subject, getting bids from contractors.
Start getting bids from contractors
One of your first big jobs as the owner builder is to start getting bids from contractors and subcontractors. One of the many advantages you will have when working with Built Green Custom Homes is that we provide you with a list of trusted vendors that are shown to produce quality work at reasonable prices. Our vendors are rated based on past experiences with our BGCH customers, so if they do not do a good job according to the customer their rating will suffer. This means that our vendors strive to do a great job for you every time and at much better prices. We always recommend getting several bids for each job so that you make sure to get the most for your money. You also want to make sure that you are comparing comparable things. Subcontractors can use different materials for the same job, or build the same thing but in slightly different ways. So make sure that you are getting bids for the quality of material you want and the end product that you are looking to achieve. Our customers find that using our trusted vendor list takes the guesswork out of finding custom home building contractors. It’s just one more way that Built Green Custom Homes makes the process easier for you.
Construction contract and loan closing
Once the budget is complete, BGCH will help walk you through the construction contract including the pre-construction startup requirements. You will also likely be closing on your construction loan at this point. Once these items are complete, the fun really begins! The next step? Groundbreaking!