Forbes Asks Leverage Members: What Advice Do You Give to Someone Looking to Build a Custom Home?
Building a custom home is a huge investment of time and money. Forbes seeks insight from Leverage members on how to make building a custom home a success.
It's no secret that building a custom home can be a difficult process to navigate. In order to go into the process with confidence, it is important to be as informed as possible on how to build your dream home. Forbes Magazine recently sought the advice of Leverage brokers, Valerie Mitchener and Mike Bui, on how to make this process
Owner and Broker of HM Properties in Charlotte, NC, Valerie Mitchener, offers up her expertise on building a cohesive construction team. "My best advice would be for a home buyer to consult with an experienced local agent and get recommendations for a well-respected architect and builder who are able to work on this project together," Mitchener said. Often, buyers hire architects without involving them in the construction process. This can cause miscommunication during the building process that makes it difficult for a home to come out the way the architect originally planned. "If the architect and builder are able to work together throughout the construction process, the home should turn out exactly as envisioned by the architect and homeowner," said Mitchener.
The three main concepts to focus on when developing a custom home are budget, balance, and build. Michael Bui, President of EQ1 Real Estate in San Jose, CA weighs in on the importance and how to conquer each phase. When budgeting for your custom home, "be sure to leave room in your budget for additional construction costs and the unexpected," Bui advises. He suggests assuming to spend an additional 30% of your original budget on unexpected costs, so budget accordingly. As for balance, Bui's motto is "plan with your budget in mind, but build with your heart." While it's important to stay money conscious, don't be afraid to spend a little extra on features that matter most to you. When it comes to building, finding the right builder is key. "Look for someone who routinely builds the same style of home that you are looking to build and make sure they are licensed, bonded, and insured," said Bui.
When it comes to building your own custom home, turn to the experts to give you an insightful guide. Click here to read the full article, complete with testimonials from three addition agents.
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