Costs for modifications in a new construction home
New Home Buyer
3 years ago
last modified: 3 years ago
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financing costs on new construction
Comments (3)I am no expert and we are not doing a construction loan, but my immediate reaction is $9000 for origination? Without exception we have never paid more than 1% for origination, are other fees 'built into' the origination? $20k for interim financing? would that be your interest on the draws? Is this a personal residence for you or are you building it on spec to sell? These numbers sound more like what a contractor friend of ours pays for his financing on spec homes. My other question is, who is providing the financing? A separate bank/lender or the builder? If it is the builder, shop around. Some builders will give you a 'great price' on the house and make up their profit in the lending fees. Good luck....See MoreNew Construction Home: Pay Cash vs Construction Loan
Comments (4)Yes to your own RE attorney. Yes to a methodology of lien release tracking. Yes to setting up a construction draw schedule even if you don't have a loan. Your builder should know when he needs draws and design a schedule for you. Planning is everything. Know what you want and stick to it. Strangely enough, once the foundation is dug, a lot of risk diminishes. If there are no rocks or water, your foundation costs drop off. Shop around for other lenders. You only need a construction loan. Not a construction to perm. They are different. It's good to have a line of credit in your back pocket when building. I suggest you explore a home equity line of credit on your current home. If you need it, you have it. If you don't use it, you were prepared. Lenders will love you. They love to lend to people who don't need the money. And, they love lending to people who already own the land. Expect and prepare for cost overruns. Construction lending is high risk and you are lowest level of risk of a high risk endeavor. Make the lenders compete for your business....See MoreCost to stub in all utilities for future ADU during a new construction
Comments (9)Your septic was permitted with a certain number of facilities in mind. In a certain location. Double inlets is usually frowned on. It’s not just about tank capacity. The building site has to be master planned for it all to work. It must be sited for gravity draining to work. “Just” adding an ADU that wasn’t accounted for in the original property layout and septic design for the house’s location will require its own system. If there is room. If there isn’t room for another septic? No ADU will be allowed. Contact your septic permit issuer. You’re not gonna park an RV as a dwelling. Not a chance....See MoreKitchen Layout Ideas for new house construction
Comments (61)I've been thinking about the first plan I posted, with the interior laundry and mudroom. I still like it. If you put the laundry/mudroom inside, you don't need anything in the garage but a couple of steps (between the garage bays, where the steps start on the original plan), so it shouldn't interfere with parking. Moving the door down, across from the MR door, would allow you to have a ROTS pantry beside the fridge, and you could also have shallow storage cabinets beside the entry door. They could be used for extra pantry storage, brooms and cleaning supplies, extra mudroom storage, candlesticks and linens for DR, etc. You wouldn't need to carry laundry through the kitchen, but the W/D are still close enough to monitor while you're cooking. Likewise, laundry isn't lugged back through the kitchen. I incorporated the front entry closet into this version, and it's all included in your 14.5 x 23' space. There's a stub wall beside the oven, so the profile view from the great room is uniform. If you feel that the oven would block light from the great room window, the sink window could be widened. Note: I used 6" for all interior walls because that's easier to draw on my grid; you'd actually have a little more space on either side of the wall. You'd also have more space for storage in the garage. I drew the garage entry traffic paths below--it's not exactly to scale, but close enough to give you the idea of how the interior laundry/MR impacts the plan: Original, for comparison: Of course, if you use a different plan, or have an architect design a custom home, this is moot. I just wanted you to consider all aspects of the interior laundry....See MoreInnoVision Design & Project Management Inc.
3 years agoNew Home Buyer thanked InnoVision Design & Project Management Inc.InnoVision Design & Project Management Inc.
3 years agoNew Home Buyer thanked InnoVision Design & Project Management Inc.New Home Buyer
3 years agoInnoVision Design & Project Management Inc.
3 years agoNew Home Buyer thanked InnoVision Design & Project Management Inc.InnoVision Design & Project Management Inc.
3 years agoNew Home Buyer
3 years agoInnoVision Design & Project Management Inc.
3 years agoNew Home Buyer
3 years agolast modified: 3 years agoProSource Memphis
3 years agolast modified: 3 years ago3onthetree
3 years agolast modified: 3 years agoInnoVision Design & Project Management Inc.
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3 years agoJeffrey R. Grenz, General Contractor
3 years agomillworkman
3 years agoLouise Smith
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3 years agoNew Home Buyer thanked InnoVision Design & Project Management Inc.
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