_________________________________________________________________________________________________
Luxury homes permanent loan to lock in the rate . Similar to a fixed-rate mortgage , the interest rate is determined and set when the loan is closed , and it will remain the same when the loan converts to a traditional mortgage .
In addition , homeowners can receive lending based on the future appraised value of the home after it is built . The lender will then pay off your previous mortgage , and the new funding will go toward the building process . This eliminates having a second mortgage and could offer more flexibility and potentially lower payments . Also , with this structure , when the cost of building materials goes up , your price doesn ’ t .
With most homebuilders , the base price of your build is guaranteed and locked in when you sign your contract . Even if the cost of materials or lumber increases during construction , your budget stays the same .
Another factor surrounding the decision to rebuild is energy costs , which continue to rise . To create a truly energy-efficient home that is up to code , the owner typically needs to rebuild and not remodel . This is especially true if the home is more than 50 years old , because building practices have evolved , and often the structure of older homes can ’ t accommodate the newer systems .
When rebuilding , homebuilders can install air barriers , insulated siding , spray foam insulation , advanced sealed ducts and they can use high-efficiency HVAC systems and high-performance windows . Plus , the new roofs are built to accommodate solar panels , offering owners a new source of electricity . Also , as technology advances , smart home devices can play a big role in creating a more energy-efficient home . For example , Wi-Fi enabled smart thermostats learn preferences and create custom heating and cooling schedules based on habits , ensuring energy is used efficiently .
Building a new home can be both exciting and overwhelming , but aligning yourself with a trusted partner can help . Asking the right questions can help ensure the result is a beautiful new home that meets your needs , is energy efficient and is a smart investment . ■
Thomas James Homes www . tjh . com
Headquartered in Aliso Viejo , California , Thomas James Homes ( TJH ) is the leading single-lot replacement homebuilder unlocking access to new homes in the coolest neighborhoods . TJH has more than 500 homes in production across Southern California , Northern California , the Pacific Northwest , Colorado , and Arizona . Delivering design-driven homes in communities within major metro areas where new construction is rare and in demand , TJH ’ s customer-centric solutions include options to build a new home on an existing homesite , personalize a pre-construction home , or buy a completed home curated by in-house design experts .
modernhb . com 21