Ready To Build Where You Want to Live….
Are you interested in building your dream home and own land or home site already? KCE Homes will build your custom home on your existing property almost anywhere in Central Texas. If you need help finding a home site, we have a network of realtors and investors to guide you through the process to acquire your land and provide guidance and support throughout the process.
With our build on your lot program, you’ll work with KCE Homes in house design team, to create your own designed custom home with an endless number of floor plan and design options to choose from while staying in your budget and building timelines.
NAVIGATING BUILDING ON YOUR OWN LAND
So you’re thinking about buying land to build a house on? We’d be glad to walk you through the process to help you prepare!
Buying land to build a house can be a fantastic decision. But it is one that you’ll want to research a bit before taking the plunge to start working on your dream home. If you are building a home, you can’t get a traditional mortgage. You’ll need to get a different type of loan until the home is finished and you can get a permanent mortgage.
Generally, building a house on land you previously bought involves some basic steps. For 10 great reasons to buy a lot first and then build a home, check out this post.
- Through a trusted, experienced real estate agent.
- Through your home builder.
- On your own.
- A construction-only loan provides a one year, higher interest rate loan that gives you time to build a house and purchase your real estate.
- You receive advances during the construction process to pay only what you need at that time for the next part of construction for purchasing construction materials and labor.
Secure a land loan.
- A raw land loan is for completely undeveloped land, which may be more difficult to finance.
- An unimproved land loan is for land that may have some utilities but still needs meters for gas or electricity and a phone box.
- An improved land loan is for a lot that has access to a road and utilities.
Or choose a construction-to-permanent-loan
- This type of loan allows you to borrow to pay for building your home, then the loan converts to a permanent mortgage or end loan (a 15-year or 30-year fixed-rate mortgage).
- It is a way to have a single close with only one time to pay closing costs, which reduces your total fees.
Buy the lot with cash.
Choose seller financing, if it is an option.
3. Choose your custom home builder carefully.
- Through a trusted, experienced real estate agent.
- Through your home builder.
- On your own.
- To see the factors that affect a new home’s build time, please read this post.
- For the steps in building a house and a description of the building process, please click here.
- Secure a rental home or apartment if needed
- If you had a single close loan, you are already set!
The process is not complicated if you have a trusted realtor, lending company, and/or home builder walking beside you to guide you on the right path.
