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Home Building Guide
The first step in getting your new home built is to speak with a bank representative. Ask lots of questions about construction loans and rates, closing costs, points and other possible charges. Don't be afraid to shop around to find the best deal.
Next, put your plans out for bid. Decide whether you want a general contractor to take care of the overall project, or if you will act as the contractor and bid out separate items to sub-contractors. Be aware, though, that the latter can become a nightmare for anyone inexperienced in home construction.
Once you have received bids, you'll need to carefully examine them to determine the best one - not necessarily the lowest priced one. Make sure the bidder has spelled out everything he intends to do so there won't be any big surprises later. Don't forget to get references on the bidder before making a decision.
After choosing a contractor, you can go back to the bank and finalize a loan. In a construction loan, money is disbursed in steps as the building progresses. You pay finance charges only on the amount that has been disbursed during building. When the house is complete, the loan is converted into a regular mortgage.
The first step in getting your new home built is to speak with a bank representative. Ask lots of questions about construction loans and rates, closing costs, points and other possible charges. Don't be afraid to shop around to find the best deal.
Next, put your plans out for bid. Decide whether you want a general contractor to take care of the overall project, or if you will act as the contractor and bid out separate items to sub-contractors. Be aware, though, that the latter can become a nightmare for anyone inexperienced in home construction.
Once you have received bids, you'll need to carefully examine them to determine the best one - not necessarily the lowest priced one. Make sure the bidder has spelled out everything he intends to do so there won't be any big surprises later. Don't forget to get references on the bidder before making a decision.
After choosing a contractor, you can go back to the bank and finalize a loan. In a construction loan, money is disbursed in steps as the building progresses. You pay finance charges only on the amount that has been disbursed during building. When the house is complete, the loan is converted into a regular mortgage.
Sample Construction Timeline
| Approx. Time Required | Description of Work |
| 4 Days | Site Preparation - Clear the land and install batter boards with string for reference |
| 4 Days | Excavation - Dig basement and trenches for footings, excavate trenches for water, sewer, gas and utility lines |
| 10 Days | Foundation - Pour all footing, pour/lay foundation walls, waterproof below grade, install drains, install perimeter insulation (optional) |
| 3 Days | Temporary Electric - Have electric company install temporary electric service before framing begins |
| 10 Days | Frame House - Install floor system, build and set exterior walls, frame roof system, set interior partitions, install exterior siding, install windows and exterior doors |
| 4 Days | Rough Plumbing - Locate plumbing fixtures and install all piping for sewer, water and gas lines |
| 5 Days | Heating/Air Conditioning - Install HVAC System and all ductwork |
| 5 Days | Rough Electric - Have electric company install meter. Install service panel, connect to meter and ground, run wiring to fixtures locations |
| 4 Days | Concrete Floors - Pour garage and basement pads after proper base and reinforcement has been installed. Outside patios should wait until drywall is finished |
| 8 Days | Insulation and Drywall - Install insulation, hang and finish drywall |
| 10 Days | Interior Finishing - Install interior doors, paint, install kitchen cabinets, bathroom vanities and all trim |
| 3 Days | Finish Electric, Plumbing and HVAC - Install light fixtures, receptacles, vent fans, doorbells, switch/receptacle plates, toiliets, sinks, faucets, vents and grills |
| 3 Days | Flooring/Carpeting - Install finish flooring and/or carpeting |