The idea of designing and building a home instead of buying one that is already made is becoming popular in Midwestern cities such as Chicago. If you are planning on buying a new home, then you might want to look into the idea of getting the home you have always wanted by having it built to your specifications. Before you can move into your custom built home, there are some steps you should follow first.
Buy Your Land
You will probably want to hire an expert in the field of residential construction to help you with every step, but your first step should be to find the plot of land you want to build on. Good pieces of land go fast, so you will want to do your research and find the right place quickly.
Get Your Funding Pre-Approved
This part of the process really depends on what your lender wants to see. Sometimes a lender will pre-approve a construction loan based on your land equity and your credit. But in many cases, the lender will also want to see some kind of plans for the house you intend to build. Either way, getting pre-approved before you start officially drawing up plans for your house will let you know exactly what you can afford.
Get Your Plans Done
When your funding is in place, it is time to hire the architect who will plan your home for you. This process can take some time and it tends to be frustrating, but it will be all worth it when you see the final plans for your future home.
Choose Your General Contractor
There are many good Chicago general contractors you can choose from, so take your time and ask a lot of questions. You might want to see if your architect has a contractor they can refer to make the process easier.
Building your own home in the Chicago area can be exciting. Be sure to hire professionals to help you at every step, and take your time when making each and every decision.