Previously, REA Homes dug into the different types of homes you can build. This time REA Homes explores the pre-build, planning steps necessary for a successful custom build process.

Defining Your Goals

Most good builders will begin the process with a meeting that is meant to determine what your goals, wants and needs are for your Custom Home. The builder will ask you a series of questions during this meeting to help him better understand your unique situation. These questions will help the builder determine what you want in your home vs. what you need. Obviously, your needs come first, so the builder will have to make sure all of these things are taken into consideration throughout the process.

Here are some questions you should be prepared to answer during the initial meeting with your builder:

• What are the top 3 reasons you want to build a new home?
• What are the most important aspects of a home in your eyes?
• Who will be living in the home, now and in the future?
• How many years do you plan to stay in this home?
• What area do you want to live in? What schools do you want your children to attend?
• Do you have any allergies or relevant medical conditions that apply to the design of your home?
• Will you be entertaining in your home? Indoors or outdoors?
• Do you intend to add a pool immediately or sometime down the road?
• Is the energy efficiency and environmental impact of the home important to you?
• Are consistent temperatures, good indoor air quality and overall comfort important to you?

In addition to gathering the information they need to do their job, good builders will also see this meeting as an opportunity to learn more about who you and your family are. Building a custom home is a partnership, and the better you understand each others’ motivations and expectations, the smoother the process is likely to be.

Determining Your Budget

Unless you intend to pay cash for your new home, you will need to meet with a lender that will help you determine your budget and get pre-qualified for loans you will need.

Even though you might have a lender you know or have worked with in the past, we recommend speaking to someone that is experienced specifically with new homes. Lenders that deal with new home financing often have a different skill set and knowledge base from those who usually handle only existing home lending or refinancing. Your builder should be able to refer you to several qualified lenders that know the ins and outs of new home financing.

Once you have completed prequalification, you are ready to move forward to the next phase… but first we think it’s a good idea to understand the different pricing models that builders usually employ.

REA Homes builds high performance luxury homes with the customer’s entire well-being in mind. To learn more about our custom built homes in St. Louis, MO, visit our blog or Facebook page.