There are a lot of myths and misconceptions about building a new home. You have probably come across a few of them. But don’t let the misinformation scare you from building your dream home. Here are some common misconceptions that you need to watch out for.
Getting Financing Is Difficult
This is one of the most common misconceptions that go around when it comes to building a new home. It’s often relatively easy to secure financing for building a new home. Just like buying a car, it’s actually easier to get financing when you are buying a new one. Banks and financial institutions would rather finance a new home than an old one. You’ll find that with an old home, you might need to do some repairs before you get a loan. If you want to build a home, you can get conventional loans, jumbo loans, FHA loans, and even VA loans. Some of these loans don’t even require that you make a down payment.
New Construction Takes Too Long
Builders are always ready for interested clients who want to move fast. If you need your home built quickly, you can get it done. If everything is in order financially and you have made all the necessary arrangements, there will not be any delays in building your home. Of course, you’ll want to make sure you work with a reputable builder who specializes in new construction homes to ensure there are no unexpected setbacks during the process.
There Are Too Many Choices To Make
For some, choosing a floor plan, colors, materials, and finishes can be the most enjoyable part of building a new home. When you start everything from scratch, you get to decide on every aspect of your new home. While there are a lot of choices to make, this process is less likely to be stressful. This is especially true if building a home has been your dream for a long time. If you want to customize everything, there are builders who are trained to work with you and help you discover exactly what you want and how it can be achieved. In the end, you will have a home that is tailored to your taste and preferences — and you’ll get to put your creativity to good use.
While there are a number of myths pertaining to new construction homes, you shouldn’t believe everything you hear. For instance, you may think all the construction needs to take place on the outskirts and outer fringes of cities. As such, you might be under the impression that if you want to build a new home, you have to do it away from the city. None of this is true. If you want to live close to the city center, there are plenty of opportunities to build new construction homes in convenient locations. To avoid falling for these misconceptions, do your own research and gather your own facts.
In 2017, there were about 1.2 million new construction homes built in the United States, and 1.15 million of them were completed successfully. There should be nothing stopping you from building your own home. For more information, please contact our team today.