Building a custom home in Calgary is an exciting time when you have the opportunity to create the custom features and home design style unique to your personal vision and lifestyle. At Tri-Link Builders, we know that custom homes are an iconic way to express this. Review our four indicators below and contact us today to make your dream a reality.
You’ve researched the neighbourhood
Before you pour all of your time and money into your home, you need to be thorough in your investigation of possible neighbourhoods. You’ll want to look out for things like schools, amenities, and the potential resale value of your home. What is a better match for your lifestyle – the coveted and charming northwest neighbourhoods? The mainstream Beltline? Family-friendly lake communities? It is generally a good idea to keep your new custom home in line with the common size and price range of the other homes in the area to consider your resale value down the road as well.
You’ve secured financing
Financing a custom home build isn’t necessarily more expensive than purchasing a home, but it can be different. You need to find a lender that is willing to give you a construction loan, which is considered riskier than a traditional loan, and you will also have to address two mortgages – one to finance the land you purchase and the other as a construction loan to finance the building of your custom home on that land. Alternatively, in today’s market most Clients are using an equity Line of Credit and/or unregistered investment funds to pay for their custom home. This keeps the on-going bi-weekly or monthly construction build invoices for their new home current and the Builder and Trade Partners paid to date to maintain a seamless build process.
You’ve found your builder and architect
Finding the right architect and builder is the most important step. If you know of anyone who has embarked on building a custom home or renovation with a good experience, ask for their referral. Referrals are a significant part of doing business and Client comments are the best way of knowing who will be best suited for your needs. Take your time to evaluate and talk to different builders. You will find the one who will ‘click’ with you, one who understands your vision, and one who will provide not only the best service, but the best pricing as well.
You’ve planned for an emergency
The last thing you want to think about is being over budget on your new custom home build. However, it is common that the Client will make changes and upgrades to their new custom home (or renovation), interior selections, design, etc. With that said, keeping an additional allowance of approx. 5 – 10% of the initial cost of construction, is a good idea considering it is a commonality in new construction and renovations.
Building your custom home is an exciting and rewarding step in your future. Contact Tri-Link Builders today to get started!