New Custom Home Process: A Step-by-Step Guide
In Northern Virginia, the average custom home has more than 40,000 individual parts, up to 120 subcontractors and suppliers, and demands over 8,000 work hours. This is daunting work and you need the right professionals to make your dreams of owning a custom home a reality. At Foley Companies, we look at the new home construction process as an 11-step process made up of various important elements.
The budget drives everything and everyone has a budget. Your budget will determine the type of house you can build.
Discuss your budget with your builder and designer so that the guidelines for the construction can be established early.
The land is the single largest line item in any construction budget.
In Northern Virginia, land costs anywhere between 1/4 and 1/2 of the overall price of the custom home.
At Foley Companies, we encourage customers to have us complete a detailed lot study, including walking their potential lot(s) so that we can give an evaluation of how the lot and its price might fit into their overall budget and construction plan. We also have a dedicated partner realtor that is highly experienced in finding land to build on that we can refer you to. There are a finite number of realtors that have the knowledge and skills to find land and know what to look for.
Land development is the conversion of raw land into a construction-ready site. This may include excavation, clearing trees, bringing in utilities, landscaping, engineering, and more.
Engage design-builders or architects to create or make modifications to your existing home plan. You can also get stunning home plans from various online sites.
Technical selections – such as how the drywall will be screwed or what type of lumber to use – are small details that put the home together. Your builder can advise you in this section so you can make decisions that give you value while saving money.
The fun part of the selection process is what we call the “shiny stuff.” That includes the plumbing fixtures, light fixtures, cabinets, counter tops and so forth.
Often, the bank finances most of our clients’ projects. Custom home financing in Northern Virginia enables you to acquire land, build the home, and provide permanent financing once the house is complete.
We can provide you with a list of good lending institutions that will treat you fairly and will gladly have an initial no-obligation meeting with you to further explain the process. They can also quickly give you an idea as to how much they will finance and what the costs to you will be.
Design and Building Team
The next step is to review our construction team and duties. Typically, a construction team is composed of the owner, builder, designer, as well as the subcontractors and suppliers.
Every job has a schedule.
The period of the new custom home construction will depend on the complexity of the land development, size and structure of the home, as well as the level of finishing you want.
A warranty ensures that the builder assumes financial responsibility for specific construction damages that may occur in your home.
At Foley Companies, we’re willing to make any changes or modifications at any time during the construction process as long as it’s reasonably compensated.
We pride ourselves in educating our customers in the whole process as we proceed, so that they can make sound decisions in a timely fashion, so that everything goes in right the first time.
A contract serves as a roadmap for the construction process once the design and budget are agreed upon.