Hunter Estess, president of Estess Contractors and owner of Dash Development, is, like many other real estate investors and developers, an expert at custom home construction. Custom built homes are an integral part of the modern American dream. Many families hope to someday be able to craft a new home built to their specifications and modeled after their ideals.
Estess and other real estate developers advise potential new build owners to consider some important steps to make the process a smooth one. First, new owners should have very organized finances. They need to understand that the property they choose to build on and the details they dictate in the construction of their home will impact its overall price. A construction loan is necessary to obtain from lenders, and most consider this kind of loan risky. Down payments of 20 – 25% are required. New owners should investigate and carefully interview architects and builders to make sure they choose the ones they can work amicably with.
Real estate investors and developers like Hunter Estess know that it is important to have the land for the build and a plan for the process in place as early as possible. New owners should consider the potential resale value of the new build in the future, and how the neighborhood may impact that value. Thorough, diligent planning from the top to the bottom of a new build can prevent many problems or delays in the construction process.
Decisions about important details should be made well before the actual construction commences. These steps, combined with an excellent developer, can help the new owner build his or her dream home.