Don’t Even Begin Designing Your Home
Until You’ve Done This!

Custom home framing (Photo credit: Brock Builders)

There is an ancient proverb that says, “Suppose one of you wants to build
a tower. Will he not first sit down and estimate the cost to see if he has
enough money to complete it?” I suppose it’s because I’m a builder, but I
can relate to this bit of wisdom. It’s a rhetorical question, of course. Who
wouldn’t first estimate the cost?
In reality, it sometimes amazes me to meet with people who are ready to
build a new, custom home but have no idea what they want or how much
they can spend. Stop right here! It’s crucial, before beginning the design/
build process, to determine what you can afford.
People who need financing assistance should talk to an experienced
professional mortgage lender who can help determine what they can
comfortably afford. This process will take into account your income,
expenses, credit, assets, interest rate, taxes, insurance, maintenance, and
utilities.
Sadly, people who begin the design process without first counting
the cost often design to their dreams, only to find out later they have
far exceeded what they can afford. They end up mad, sad, or extremely
frustrated. Instead, we first want our homeowners to realistically determine
what they can afford; then we work hard to design a quality, custom home,
a complete package that’s 5 to 10 percent below their target number. We
know from experience that changes may occur during the building process.
For instance, a homeowner may upgrade the finishes as the construction
process unfolds, or other variables may arise that would add to the cost of
their home. If we start with a number that is below their budget, we can
end up at the desired budget. It is best to pay for an accurate conceptual
number in the long-run.

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