Get to Know Your New Jersey Luxury Home Building Team

Get to Know Your New Jersey Luxury Home Building Team

Building a new home is a complicated process, even more so for home builders in central New Jersey (NJ). The amount of home-building options for new homes in central NJ is enormous, with multiple moving parts to the process. There are several people to know and manage that are involved. Creating your new luxury home takes a team of trained professionals focused on your personal needs. There needs to be a lot of emphasis on your needs and clarity regarding your goals for your dream home. The key members of this team, will work together to make it a reality. Let’s take a look at who does what during the building process. This is your guide to the “who’s who” when building your central New Jersey luxury home. Starting the Process: The Developer Developers find and acquire land over large periods of time to create the perfect community for home builders. They create a master plan including profiles of potential homebuilders, while working with the local community to cater to their needs. After agreeing to build a new home, the first place a developer will go is to the architect. Your Floorplan: The Architect When looking to build your home, you’ll be presented with a variety of floorplans with features that fall within the community’s pre-determined price range, or your own. The architect is responsible for making sure all the amenities coincide with the topography of the land and the community guidelines. After you finalize your floorplan, you will begin working with a home building firm. Design and Construction: Your Home Building Firm Pay close attention to the company...
Six Steps to Successful Construction Financing

Six Steps to Successful Construction Financing

Building a new home or even starting a home project can add up to be a steep bill. Not all home owners have the money it takes to start these projects but in the case of many New Jersey residents, these projects are necessary. For those who need to get started, consider construction financing to help you get started. Getting a loan is never easy so we’ve compiled some steps to help you through the process. Pick What Works Best for You When considering construction financing, know that you have many options to choose from. Most construction loan choices will include 30 year fixed, 15 year fixed, 1 year ARM, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM or interest-only loans. There is the option of choosing a short term loan of one year that can be refinanced into a new conventional mortgage loan once your construction project has been completed. While this option allows for flexibility when shopping for conventional mortgages, you will have two sets of process costs and closing costs. Get Pre-Qualified Getting pre-qualified for a loan will help you through a few steps of the construction process. First, it will help you understand your budget better. Second, you will know what your monthly mortgage payment is going to be. This step is necessary and understanding your construction project as a whole. You want to make sure you can afford the project before you start the project. Do Your Research Don’t stop at the first bank you find and get a loan. Shop around and go to different banks in your area. It is best if...