We’ve all heard that buying a home is the single biggest personal investment most people ever make. Building a custom home, however, takes that to a whole new level. Building a custom home also calls for an investment of your time, energy, creative resources, and patience. It’s also one of the most rewarding projects you’ll ever undertake. And done properly, it can pay huge dividends in comfort and well-being for years to come. But you have to be prepared. Here’s what to expect when building a custom home in the Twin Cities area.
Begin with a Realistic Budget
A budget may sound like a boring place to begin the process of building a new home, but it drives everything. Before you can dive down into the details of floor plans and finishes, you need to know what you can truly afford.
That's why it's a good idea to visit with your lender and get approved ahead of time. It helps set parameters for the size of home you'll build as well as for the custom features you'll want to add to make the home uniquely yours. It doesn't make sense to create plans for a $750,000 home if your budget is $500,000.
Another good thing about doing your budget (and getting loan approval) first is that nothing happens until the loan is in place. You'll be ready to move immediately and not have to wait for approval. By the way, your budget doesn't have to be airtight. It's smart to plan on having a little "wiggle room" in your budget so that you can accommodate some changes along the way.
Start Gathering Ideas
Once you have a realistic picture of what you plan to spend, you’ll want to start gathering ideas. There are numerous online sources where you can gather design and décor ideas. Houzz.com is a great source for ideas for everything from floor plans to specific room layouts, to decorating. You can browse by home style or by specific rooms. Pinterest is another great visual site for ideas and inspiration. You can also visit websites of custom home builders near you to see examples of what’s being built in your area.
Find a Minneapolis Home Builder
Finding the right Twin Cities custom home builder for your new home is another crucial step for getting the kind of results you want. Your builder is the one who will turn your desires and dreams into reality, so you’ll want to find someone with an excellent reputation for quality who will listen to what you want in your new home.
One way to determine what it’s like to work with a builder is to talk to previous clients to see what they have to say—not just about the end result, but also about what it was like to work with the builder. Click here to see what some of our Twin City-area clients had to say about working with us.
You'll also want to take a look at the work your prospective builder has done. One way to do that is to visit a builder's model homes to get a first-hand look at the quality of the craftsmanship. Another option (and this is also a great way to glean ideas for your home) is to take a virtual tour of a builder’s completed homes.
Asking questions is another essential part of selecting the right builder for your Twin Cities home. You’ll want to ask any potential builder to explain their building process. Ask about their warranty. Have them describe their approach to customer service. Ask them what additional services they provide (such as lot selection or architectural plans). Find out if you can use your existing plans or if you have to go with their design. Ask them how they will involve you in the process. Will there be regular meetings? How will questions and concerns be addressed? Those are just a few of the questions you'll want to have answered before choosing your builder.
Understand the Process
Building a custom home isn’t an overnight affair. There’s a process that builders follow to ensure that you get the best possible result. At Price Custom Homes, our process includes:
· An Initial Consultation that may include a walk-through of an available model that allows you to see the quality of the homes we build, and to get a feel for the fixtures and features of our homes. · Floor Plan Selection that allows you to choose the kind of floor plan that best suits your lifestyle, whether that’s a two-story, a modified two-story, a split level, a rambler, or a villa.
· Customization of the Plan with a Price Custom Home architect and draftsman to make sure the plan is tailored to your specific desires and needs.
· Final Selections/Estimation/Contract which ties up all the details of the finishes you choose, the costs involved, and the terms of your agreement.
· The Builder Trend App which allows you to keep up to date with who will be working, when, and provide you with peace of mind throughout the whole building process, land selection through final walk-through and move-in day.
· Weekly On-site Meetings where we work together to do quality control checks, access progress and make any adjustments necessary.
This whole process is managed by our team of seasoned and licensed Minnesota contractors and our trusted construction crew.
Key Questions
Every homeowner has questions before and during the process. You'll have plenty of them, too! That's completely normal. For instance, you'll want to know how long it takes to build a custom house. You'll also want to know how much it costs to build a custom home. Part of what sets the custom home building process apart is that the answers to those questions will vary with each home. But that's also why our process (described above) includes answers to those questions as we firm up the plans for your specific home.
Preparing Yourself
A good way to prepare yourself for building a Minneapolis custom home is to continue to educate yourself about the process. That’s why we encourage you to download this free Custom Home Guide. It provides a more detailed look at the topics we’ve covered in this post so that you’ll have an even better idea of what to expect when building a custom home in the Twin Cities. Or, if you prefer simply talking to someone to get the process started, we invite you to contact us and let us know exactly what you’re looking for.
