Posted by Construction English On February - 21 - 2009
You’ve decided to build your own dream home. You’ve picked out a plot of land, found a house design that you like, and have secured your bank loans. Did you know that you also need three types of insurance in order to get started?
Never fear, your bank requires two of those types before the building process begins! The three types of insurance you will need are:
• Course of Construction
• General Liability
• Workers’ Compensation Read the rest of this entry »
Posted by Construction English On February - 8 - 2009
A home construction loan is a loan where the lender has to know the story behind the construction of the house before sanctioning the loan. In other words, the home construction loan can be called a story loan, which is to be understood before a decision is made.
A home construction loan is one of the loans that require interest-only payments during construction. Principal payment is done only upon completion. A house is considered complete when it receives its certificate of occupancy. Read the rest of this entry »
Posted by Construction English On January - 18 - 2009
Follow these 7 rules to get past the hurdles and start on the path to successfully build a custom, dream home:
1. Needs vs. Wants: You typically will not get everything that you want in your dream home. Determine your needs first, such as the number of bedrooms and bathrooms, an office, garage, kitchen, and family room. Then evaluate other features that you want in your home but are willing to forego if they cannot work into the overall plan.
2. Evaluate Costs: Look at the costs for the features you want, such as a pool, media room or a wine cellar. Then prioritize the rankings of your wants. Be prepared to nix some from the list. Read the rest of this entry »
