Welcome Home: Got a lot on your mind, we’ve got a lot for you | SummitDaily.com

Welcome Home: Got a lot on your mind, we’ve got a lot for you

“Buy land. They ain’t making any more of the stuff.” – Will Rogers Anyway, traditionally, first quarter/spring is the time people thinking about new construction are in the planning stage of their building projects for the year!If you are a Buyer and haven’t started, contact your REALTOR and get an idea of what properties are available or if they know of anything that might be coming on the market… If you are a Seller, contact your REALTOR and begin to understand the value of your property in today’s market.If you don’t have a REALTOR ask a friend… a referral is usually based on a positive experience and I am sure that is what you would be looking for.Once you have a rough idea of what type of land/lot is available, level, walk out, upslope down slope…it’s time to get together with you local architects and create a plan!Here in Summit County we are very fortunate to have many wonderful Architects offering a variety of design styles to fit most people taste/desire in a home design. They will assist you in learning all the necessary timelines, rules and regulation of the municipalities and home owners associations that are part of the planning process. They can also connect you with interior designers to learn about the latest in eco friendly, energy efficient, healthy lifestyle, appliances and finishes. All these choices are available in many styles and price ranges. The more you learn the better off you will be in the long run and people are willing to be help these days…if not, maybe it time to evaluate to service provider. As you are touring the county take notes and find designs that you like so you can inquire as to who designed the home. Most homeowners would be happy to refer you to their architect and by asking them you may learn from their experience some do’s and don’ts of their design/build process. A referral from a happy homeowner is worth its weight in gold! Don’t know an Architect? Again, ask a friend or your REALTOR for a referral. If they been around for a while I am sure they would be familiar with who has designed what and where.If you haven’t chosen a builder there are many great builders in the county that would be happy to connect with you and your architect to create the home of your dreams. Ask them if they are familiar with you new homeowner association, its policies and procedures? It’s architectural review committee? Will you build in the town limits with water and sewer service? In the county with well and septic? How far are you from a fire hydrant? Will you be tucked away in the forest? High on a hill? Next to a stream? What is the typical cost of homeowners insurance for the area. Ask the builder when and where their favorite areas are. A happy builder creates a happy home! Don’t wait to long to interview and choose a builder because many are planning their 2010 projects and will be signing with customers who are ready to go! Once again, ask a friend or your REALTOR for a referral to builders and contractors that suit your project! So are you going to pay cash for your land or finance it? Cash is king and may help you negotiate a better price. If financing is in the plan will it be in advance of the building process and require I substantial down payment or can you create a plan that bring the whole process together in one construction loan with the first draw being the land purchase. The long end of this process will be permanent financing such as a 15-30 year loan. What will rate be at the end of the building process? Will the lender lock your rate for 12 months…NO! Will the market support the value determined at the beginning of the project once it is finished. Be prepared with extra cash/down payment for an adjustment due to cost overrun or market change.Exit strategy…what is your plan for this home and how long will you own it! Will it justify you want and needs and still provide a return on investment in the end. Is the return lifestyle or financial or both? Really, what do you want? It’s your choice. You are the boss! Ask as many question as possible of others but most importantly ask yourself a lot of questions and believe me, they will never end. When interview about his incredibly well planned home with all the bells and whistles Bill Gate said “yeah if I did it again, I would make some changes!Whatever you, remember, Have fun! There will be trying times but hey, any job worth doing takes some effort! And in the end, if all goes well, you drive onto your property to an end product that shouts “Welcome Home!”

What is your opinion of the market today/this year? Good, bad, up, down, are you indifferent? Write us at questions@elich.com.The answer we determine worthy of publication in the next “Welcome Home” will receive a $20 gift certificate to the business or charity or their choice.Welcome Home is written by Butch Elich & Paula Parker. Search for them by name on Google, Twitter, or Facebook.

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User