The first step is to call and schedule a free appointment to sit down with Mark, Brooke, and Garrett. During this meeting, we will discuss locations, your budget, house size, and house details. Getting preapproved at a mortgage lending institution will help you determine your spending limit on building your home. We also require a preapproval before we draw up the final contract. We have a list of lenders that we can recommend if you are not sure how to start that process.
Once we know your spending budget and go over what you are wanting in your home, we will look through house plans and pictures with you so that you can find a design you are interested in building. We can make changes to all our house plans, and we can even come up with original designs because most of our house plans were designed by Mark Morris Construction.
During our first meeting, we typically look at available lots in the community you are wanting to build your home. If you find a lot you are interested in, we can put your name on the lot in order to save it while the decision to move forward with building is made. Next, we make all the changes to your house plan that you are wanting, and we add any additional upgrades, if requested, that might affect the price of your house. Once the house plan is in order, we do a cost estimate based on your house plan and chosen lot. We typically add in our overhead and 10% profit to the top of the cost of materials and cost of labor. If the price is agreed upon, we draw up a contract that includes the price, your house plan, budgeted allowances on item you can select, and any other details that are important to the real estate deal.
In most cases, we can pay 2%-2.5% of the base cost of the house in seller’s concessions. This money can be used for your closing cost or for upgrades, such as a fence, blinds, or a refrigerator. Customers typically must make a nonrefundable deposit of 2% of the purchase price soon after the contract is executed. The money for any upgrades will be due for at the time the selections are made.
Once the contract is in place, Mark Morris Construction obtains the construction loan which can take up to 45 days. After the loan is active, we will start the construction of your house. We will give you a schedule of when you should have certain items selected for your home so that construction is not put on hold. Brooke Shuburte will help you pick out colors, finishes, and other designs. You are welcome to walk through your house at anytime throughout the construction, and we welcome any questions you might have.
When the construction of your home is near completion, you will do a “walk-through” with a representative and prepare a punch list for us to complete. Once everything is completed with the construction of your home, you will close on the house with your mortgage company and move into your home.