PODCAST EP 009 - FINANCES - And The Custom Home
Finances
When you are planning on building a new home, you have many questions about how much it will cost and how long it will take. The good news is that you can prepare yourself early on.
This episode will put you in the mindset of finding joy in cost modeling for your dream home. You will learn more about the recommended amount you should invest in your dream home, the need for budgeting, funding your construction with the right bank, expected design costs to incur, and how you should prepare for the unexpected.
Here are key things to listen out for:
What's the right amount to invest in your dream home?
Some standard costs you will incur during the house design process
How to find the right bank for your construction loan
Key Highlights
[00:26] Introducing today's topic
[02:32] How much should you invest in your dream home?
[05:57] The need for budgeting
[07:28] Who is the right team for you?
[08:43] Finding the right bank for your construction loans
[10:16] Common house design costs you'll need to cover
[13:53] Planning for contingency
[15:02] Working with time
[17:55] Working with the weather and other unexpected costs
Notable Quotes
● A rule of thumb I like to use is you shouldn't be spending more than 30% of your monthly income on a home.
● I found that in almost every single case, a client has become my friend, like a family friend that I consider a lifelong friend.
● A home is a biological living thing. It's all integrated. For it to be successful, you're not just slapping stuff on it.
● A permanent home could be a month to three months for a regular permit, assuming no special permits are needed.
● The more specification and specifics you can get, the more success you'll have in getting what you want without surprise costs.
● Make sure that the specs you want and that you've signed up for are getting executed.
Resources
Connect with Us
Instagram: https://www.instagram.com/cardarch/
Website: https://www.ca-rd.com/
Remember to sign up for free consultation on CA-RD.com.
Recorded 220429
