Mythbusting: The Truth About Custom Homes

Myth #1: It’s hard to get a construction loan

It is no harder to get a construction loan than it is to get a regular home loan! Your builder can make a difference in the cost and approval process, but beyond that it’s dependent on things like employment and credit scores just like any other home loan would be. Some lenders offer a one-stop loan that doesn’t become a mortgage until construction is finished, while others use a two-step process that will give you an interest-only loan until you refinance the completed house into a regular mortgage.

Myth #2: I can’t hire a builder until I’ve bought land

While you absolutely can come to us after you’ve bought your dream piece of land, we are happy to help you find the perfect spot. As a matter of fact, because we’ve done this before, we can spot things that could impact construction that you may not have known to look for. Things like slope or height of the lot can affect the cost of building your home. Our team can recommend lots for you to look at or review the ones you’ve chosen before you purchase to ensure that they will work well for the home you’re dreaming of. 

Myth #3: Building a smaller or single-story home will cost less

There are a lot of variables that can affect the price of your home. Things like the materials that are used, the location of the build, and the construction methods can all add up to make a difference in the final cost. Single-story homes also tend to need a larger foundation and roof, which can make the home more expensive. Talk to your builder to determine what your best options would be.

Myth #4: It takes too long to build a custom home

The time it takes to build your home really depends on your builder and the complexity of the home design. But Flair Builders has a team of experts who have streamlined the process to ensure that your home will be completed efficiently. 

Myth #5: Custom homes are too time consuming and I don’t want to make all of those decisions

Building a home will always involve many decisions. Choosing a builder who will work with you and help you make those decisions is the key to not getting overwhelmed. They should take the time to understand your preferences and be able to narrow down decisions and ask the right questions. We always recommend working with an interior designer, as well, because they can help you make long-term choices that will remain classic and timeless while also reflecting your personal taste.