I think I am ready to build my dream home/ Or am I? PART 1

Many of us dream of the idea of building our dream home. I know I did, and some of what I am going to share I experienced firsthand. Let's start at the beginning, you must choose where you will want to live in the dream home. You want to make sure the home you envision will fit within the neighborhood you desire, and that the neighborhood fits your needs for as long as you anticipate living in your dream home.

What do I mean by this? First does the style of home fit withing the community, is it too large, too small, too modernistic, too country? This matters and could seriously affect your future resell value. As to the neighborhood, where are the grocery stores, convenience to your doctors or a hospital, or the activities you enjoy. Do you want trees or do you prefer a large open lot for children to play. These items matter as to really be a dream home, it will need to be in your dream neighborhood.

Next you need to pay for it. Are you going to finance, and if so are you using the equity from your home? If so, you may need a bridge loan as well as a construction/ perm loan. The bridge loan will allow to access the equity in your current home without having to sell it first. Be aware if you have a mortgage on your current home, you very likely will have multiple house payments once construction starts.

Now you need to decide what you want to build. Are you building something where there is already a set of plans? If not, you will need an architect and even if you have plans already, they may need the approval of a local architect. You want to make sure the architect shares your vision. You also have to remember to list everything that is important to you. In my dream house we forgot to include large enough closets, a mistake that my wife reminded me of on a routine basis.

Part-2 We need a builder