|We have found that this process works the best for most people
we have built homes for. This is just a suggested process and it
will probably help you think of something you may have
forgotten to do or didn't think about.
- Know what your budget is. It is easy to let the project to get out of hand. Have a general
idea of what it will cost to build. Usually around the range of market value of a home in that
general area on a cost per square foot basis.
- Look for a plan that incorporates the things that are most important to you.
- Find a house plan that you really like and have WHI give you rough pricing. Rough pricing
will get within +/- 10% of the final pricing based on the specifications given to you with the
- If the rough pricing is within your budget range, purchase the plans.
- Begin talking with the bank about financing.
- We will need 10-14 days for final pricing and specifications after we have been given the
- Look over the final specifications to make sure they are exactly what you want in the home.
This is part of the contract. If you change your mind about something along the way, we
can do a change order to incorporate that into your specs. If you can't decide on the exact
specifications (Name brand or color) ask for an allowance instead.
- If the proposal and specs are to your satisfaction, we will draw up a contract.
- Take the contract to the bank with the plans to have it appraised.
- After appraisal, set up a construction loan closing.
- We ask for 5% of the contract price as a deposit. The bank will give us this deposit at
closing as part of the first draw.
- Draws from the bank are based on the total contract price.
- A draw is a request for a percentage of the contract price from the contractor.
- If 20% of the job is complete, then the Contractor will request the 20% from the
- The bank/owner will visit the site to confirm the completion.
- Then the funds will be dispersed to the Contractor.
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