No Comments

Can I Afford to Build a House? 5 Questions to Ask Yourself

Whether you’re a first-time home buyer who wants to get the most out of your purchase, or a homeowner looking for the perfect new home for your family, building a house is a great option. Many people assume that building a house is more expensive than buying, but that isn’t actually the case. The cost of building a house is comparable to buying, but you’ll get much more for your money.

Building a house is more affordable than you think! When calculating how much house you can afford to build, ask yourself these five questions:

How much down payment can I provide?

The cost of building a house will largely depend on your down payment. Before you talk to your bank, decide on the amount you can afford. The higher your down payment, the lower your monthly mortgage fees will be.

What’s my monthly budget?

Your bank or lender will pre-qualify you for a home loan based on your income, your credit, your down payment, and other factors for you and your spouse. The amount may be higher than you expect, but remember that what you qualify for might not necessarily be what you can afford!

How much will it cost to buy land?

Land purchase is a unique cost of building a house. Be sure to factor the cost of your property into your overall budget. To learn more about buying land, click here to check out our free land buying guide and checklist!

What upgrades can I afford?

Are you hoping for a house with wall-to-wall hardwood floors or maybe an updated spa-like master bathroom? Your builder will work with you to make adjustments and upgrades to your house plan. Keep in mind that the cost of upgrades can add up quickly. It’s a good idea to sit down and make a “must have” and a “want” list so you can prioritize the most important upgrades.

Will I have other costs?

Permits, taxes, utility connections, homeowner’s association fees, and other costs can bite into your monthly budget. Be sure to research your property before you buy to learn about costs associated with the land. Your builder will be able to tell you what permits and other fees need to be taken care of before you build

New Call-to-action

CCH logo
15585

GET THE LATEST UPDATES, NEWS, AND DEALS!

Easily unsubscribe at any point.

15856
What to expect when you meet with Carolina Custom Homes.

First: Tell us when you’d like to come see us.

Then: Chat with us about your unique needs and vision. We’d recommend considering the following so we can cover a lot of ground in our meeting and better serve you.

  • How did you hear about us?
  • How much space and how many bedrooms and bathrooms would be ideal?
  • Would you prefer a one-story home or multi-story home?
  • Do you already have land and if so what’s it like and where is it located
  • Budget! How much are you looking to spend? Will you be financing your home or paying cash?

The rest is really just showing them the model homes and finding out what is important to them in their new home.

Finally: Walk through some of our most popular floor plans. We swap these out occasionally, so keep an eye out for anything new you’d like to see. Keep in mind while your wandering that any of our floor plans can be customized to better fit your lifestyle.

Not Ready To Meet?

During the tour of our homes, you will see a wide variety of features that are available to you for your custom project. Of course, any home you build with us, can be completely customized with an open concept floor plan, 9′ ceilings, granite countertops, hardwood flooring, atrium doors, transom windows, etc.

Touring Our Floor Plans