Owning a custom home is such an accomplishment. It represents your hard work and aspirations for yourself and family. So, before you part with your hard earned cash to buy and construct a custom home in Orange County, it is important to know some basics first.
Custom home and Production Built
A custom home is when a house is defined specifically according to your desires. It can be an existing home or still to be built on your own lot. Production built on the other hand, are several homes by builders on a neighborhood that are pre-designed. It is typically cheaper to buy production built than to have custom home.
1. Buying a new construction
First things first, get a buyer’s agent. A buyer’s agent can help you search for new constructions as well as guide you through the process of acquiring your home. Negotiate with the agent well to maximize your money and buy the property that you really want.
2. Study your choices well
When choosing homes in Orange County, figure out which area is most suited for you and your family. Consider what is near your work, kids’ schools, etc. With the current state of home building in California, you are in a position to look for more affordable homes. Once you’ve zeroed in on what you want, do compare warranties, contracts, and prices. Do a general pros and cons for a few locations you have narrowed down for optimal decision-making.
3. Prepare your offer and secure the contract
Before you ink that sales contract, ensure that your lawyer or agent has reviewed the contract thoroughly. You will sign the sales contract before the closing documents and that itself is already binding. You still have a room, though for few adjustments. Protect yourself and make the offer contingent on the home passing inspection and appraisal. Ensure that you verify your upgrade options and pricing.
4. Getting a mortgage
Take your time to decide on what type of loan is best for you as well as the financial institutions. Builders also have their preferred lender and it’s worth looking into it as well. As with any loan, carefully study your options such as fixed rate versus adjustable.
5. Custom home
Now it’s time for you to personalize your new home. Be prudent in considering what you need for upgrades and customization. Make sure too that it is within the lenders’ approved improvements. Ask your agent for recommendations for builders. In Orange County, Great Pacific Construction is a contractor with excellent reputation and integrity in building custom homes and has a great portfolio.
6. Inspection
Even new homes need to be inspected so make sure yours get a thorough check. Should any issue arise, you can use this as bargaining tool. In case the house did not pass inspection, you are protected to get out of the agreement if you included the contingent in your contract as mentioned previously.
7. Closing documents
The final step in your custom home is by signing the closing documents. This is when you bring your certified check to pay your lender and other parties. Once you have signed all the paperwork, the house is all yours.
Discuss with a reputable contractor on what you want your custom home to be. Study the design possibilities in terms of function and aesthetic in consideration with your lifestyle. Greater Pacific Construction is known for superior custom home construction and workmanship. The quality of custom home they build goes beyond the aesthetics and into every detail of construction.
Reach out to them by calling (949) 749-5250 and request for a consultation.
