Published at Friday, February 15th, 2019 - 11:08:45 AM. Dream Home. By Alek Pulalo.
5 Tips To Get You Prepared For Having Your Dream Home Now : If you are a homeowner, or even a potential homeowner, chances are good that you have visions of owning your dream home in the future. The way the economy has been since about 2008 - 2016, many people have been forced to either put off their dream home plans, or have given up on them completely. The good news is this, never before have there been so many options available to homeowners, and new buyers, that having your dream home now may be a distinct possibility. In fact, this article will outline several courses of action that could put you in your dream home a lot sooner than you think. 1. Step away from the computer. The trouble with many people is that they dawdle around looking for their dream home, but spend all of their time looking at prospects on their computers. In fact, according to experts, more than 90 percent of potential buyers spend most of their time online looking for a home. For getting leads, this is great, but at some point you need to close the computer, go out, and look at houses. 2. Educate yourself on markets and trends. A lot of finding your dream home is a matter of watching the market and being able to predict when the prospects of finding such a home are good. You should understand market values so that when a deal does present itself, you are ready to pounce on it. 3. Watch for low interest rates. Dawdling can also cost you in another way: taking too long to take advantage of low interest rates while they last. 4. Get pre-approved. You can get yourself into a good position to buy the home you want, as soon as you find it, by getting your loan application started now, and determining what that amount is before you start looking. In fact, many buyers are now putting themselves into an ultra-competitive position in the market by going beyond the pre-approved stage to become fully-approved before making a purchase. Not every lender offers this possibility, but many do. When they do, take advantage of it! This will make you a more valuable buying party to the sellers. 5. Consider remodeling. When it comes time to start thinking about buying your dream home, a lot of options probably come to mind. Unfortunately, one option that is very important often eludes most people, remodeling an existing home. The truth is that remodeling can solve a lot of different issues related to home buying and selling. First, of course, if you decide to remodel instead of buying a new home, you can create practically anything you want in your dream home from your existing home. Another reason for a remodel, even if you decide to sell, is that remodeling can help you to correct many problems that might exist that buyers will want to reduce the cost in order to fix. Finally, remodeling a home provides good return on the investment, whether you decide to stay in your home, or you decide to sell it.
Owner Builders - The 5 Huge Mistakes They Make When Constructing Their Dream Home! : There are more people than ever before who are making the very wise decision to build their Dream Home! From nice little bungalows nestled on inner city in-fill lots to huge 8,000 square foot mini mansions located on acreage waterfront home sites, the opportunities are endless for todays savvy Owner Builder. However with the numerous examples of beautiful homes that will produce countless memories for their proud owners there are just as many cases of the Owner Builder project gone awry! The beautifully conceived Tudor style home that never reached completion, the Mediterranean stucco home that never left the architects drawing board and the 4 story town home that went way over budget and took over a year and a half to complete! My goal is not to discourage you from building the home of your dreams but instead I hope to educate you on the 5 most common mistakes that have plagued Owner Builders! If carefully heeded, your Custom Dream Home project will go off without a hitch and provide your family, friends and loved ones with numerous years of enjoyment! Here are the 5 Mistakes you should avoid when you construct your Dream Home! #1 - Do not over-build for the community or area. It is important that you build a home that is comparable to the majority of the homes in neighborhood and/or area. If the average home in the area is 4,500 sq. ft., then I suggest you build no more than 500-1000 sq. ft. larger than the average home in that area. In most cases, I suggest that you never build a home smaller than the average home as that could prove to be a challenge if you ever decide to sell. #2 - They design a home that is too unique that doesnt have mass appeal!I am sure you can remember driving through a neighborhood and you saw a home that simply stuck out like a sore-thumb! I believe in being different however when it comes to designing my Dream Home I dont want a home so unique that it causes me to lose money. Really unique homes that are not comparable to the surrounding homes in an area are hard to value and in many cases the owners are never able to recoup their original investment. #3 - Choosing the wrong builder!Your choice of builder in many cases is the single most important decision in the whole process of constructing your Dream Home! It is important that you exercise caution and that you thoroughly interview at least 3-4 different builders before making a decision. You should also visit the on-going projects of the builders to see the projects they are presently working on. The time you spend planning with and interviewing builders will prove to be the single most critical aspect of your Custom Dream Home project #4 - Trying to save money by performing work on the home themselves!Unless you work full-time in the construction industry I strongly recommend that you pay experienced trades to perform all of the work on your Dream Home. Sweat equity generally takes longer than expected while the potential savings are never as substantial as anticipated and they generally add unnecessary stress and anxiety to a process that already has too many variables to be managed. It has been proven that time spent planning and managing your project is 3 times more valuable than time spent actually working on your Custom Dream Home! #5 - Not securing Construction Loan Financing first before doing anything else in the planning process!I saved this for last with the hopes that it will stick with you when you forget any of the other mistakes! By securing your financing first, you now make it easier to design and plan your project because you know exactly how much money you have to spend. This becomes extremely important when you sit down to design your home so that you dont design a home that goes over your budget. The other benefit to securing your financing first is it provides you with a strategic advantage when you negotiate with builders because they understand you are 100% qualified and are ready to begin construction once you decide on a builder! Hopefully you will write these down and keep them close and review these mistakes as you begin the planning of your Custom Dream Home. Using these tips will save you time, prevent stress and help you produce a top-quality Dream Home that your family will enjoy for years to come!
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