LAKE LUXURY HOMES
home building process
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Custom Home Building Process
Building a custom home produces a different experience for each of our customers. The process of getting from Point A to Point B may have many similarities from one job to another, but the actual plans, land and material specifications are uniquely yours. Our clients come to us at varying stages of the construction process. While we prefer to be involved from the start, we are pleased to bring our services to the table at any point prior to the actual commencement of construction.
Concept and Land
The first step in building a home comes with the decision or realization that you cannot find exactly what you want, where you want it, in an existing structure. At this point, there are two primary options: build a new house or renovate an existing house. Lake Luxury Homes can help you evaluate the aspects of size and features, examine time commitments, and financial responsibilites with either option. If everything is understood and the decision is made to build, the next step is to find the right location.
Searching for the perfect lot can be difficult and time-consuming. We will work directly with you and/or a real estate professional. In any event, the primary service we provide comes after you have established the geographic location of your home. We are able to examine the land for ease of building, topography, and possible limitations. Lake Luxury Homes has constructed projects in most areas of Lake Norman. With this experience behind us, we are able to pass on to you our opinions and hard-earned lessons, which may save you a few headaches later.
Once you have settled on the place to build, it is time to move on to the Design Phase. If you have already purchased or identified your building site, this is where our services begin.
The Design Phase
There are two distinct ways to approach the design phase. One option is to hire an architect to work with you on the specifications of your home. This could cost you from 2 - 5% of the construction contract price.
Another option is to bring your ideas, pictures, sketches and verbal ideas to Lake Luxury Homes. We will create your dream home together with you and draft your plans needed for financing, as well as construction.
Whichever path you choose, we want you to be a part of the design process. If we work with your architect, we can improve consultation on cost issues and pragmatics or "field technology." It is our opinion that the building team and the design team should join forces from the very beginning. This helps to ensure that lofty dreams do not burst the financial bubble. Design, budget, and pragmatics go hand-in-hand.
Where does the actual design start? With YOU! Your lifestyle, your preferences, your needs... Pictures, sketches, written and verbal ideas will all help in getting started. Number of bedrooms, bathrooms, living areas, work areas - all of this information is provided by you. Conceptual drawings are completed first, along with preliminary specifications. Once the concept is worked out with regard to size, number of rooms, and style, the working drawings are completed along with final specifications.
From the beginning of the design phase, budget is a major consideration in creating the plans and specifications.
Construction costs are estimated in very broad terms in the beginning; the margins are narrowed after the conceptual plans are completed, and a contract price is given after the plans and specifications are finalized. At each stage, alterations can be made to achieve the desired budget costs. Lake Luxury Homes cannot give a price of so many dollars per square foot, or total under one roof. What about decks, patios, tile, porches, garage size, hardwood flooring, carpeting, etc.? All of these things make a difference in cost and vary from one project to the next depending on our clients' preferences. Every project is priced according to the materials, labor, fees, and supervision which will be required to complete that particular project by the plans and specifications. There are no standard items, everything is custom.
Again, while it is preferable that Lake Luxury Homes be involved in the design process from the beginning, we are sometimes asked to join in after the conceptual plans or even the final plans are complete.
Financial Considerations
Finances have been comtemplated throughout the design phase. After the design is finalized, one of the first things to be done is to address the financial matters. While constructing the project, Lake Luxury Homes will need to make periodic requests for payment or draws. Each payment will be credited to the Contract Price, with a final invoice submitted just prior to closing. The first payment will be made as a deposit at the time of contract signing. This generally ranges from $500.00 to $2,500.00, depending on the size of the project. Subsequent payments will need to be made based upon a percentage of the completed work each month. The requests for payment will be submitted to you, your lending institutions, and/or your architect. Payment is expected within 7 calendar days.
Where will you get the money? Some people pay from personal cash reserves; most take draws on a "construction loan" obtained prior to contracting for the work. Lake Luxury Homes has relationships with several local lending institutions which would welcome the opportunity to talk with you. We receive no form of compensation from these institutions other than quality service for our customers.
In most cases, Lake Luxury Homes will carry all costs during the construction of your new home. When we bid your new home we will figure in all fees and interest associated with the construction process. Once your new home is completed, you will reimburse Lake Luxury Homes by obtaining a permanent mortgage. For a custom built home of such magnitude, we usually require $15,000 to $25,000 non-refundable deposit before construction begins.
We welcome the opportunity to build your dream home and hope that you will join our list of satisfied customers.
Building a custom home produces a different experience for each of our customers. The process of getting from Point A to Point B may have many similarities from one job to another, but the actual plans, land and material specifications are uniquely yours. Our clients come to us at varying stages of the construction process. While we prefer to be involved from the start, we are pleased to bring our services to the table at any point prior to the actual commencement of construction.
Concept and Land
The first step in building a home comes with the decision or realization that you cannot find exactly what you want, where you want it, in an existing structure. At this point, there are two primary options: build a new house or renovate an existing house. Lake Luxury Homes can help you evaluate the aspects of size and features, examine time commitments, and financial responsibilites with either option. If everything is understood and the decision is made to build, the next step is to find the right location.
Searching for the perfect lot can be difficult and time-consuming. We will work directly with you and/or a real estate professional. In any event, the primary service we provide comes after you have established the geographic location of your home. We are able to examine the land for ease of building, topography, and possible limitations. Lake Luxury Homes has constructed projects in most areas of Lake Norman. With this experience behind us, we are able to pass on to you our opinions and hard-earned lessons, which may save you a few headaches later.
Once you have settled on the place to build, it is time to move on to the Design Phase. If you have already purchased or identified your building site, this is where our services begin.
The Design Phase
There are two distinct ways to approach the design phase. One option is to hire an architect to work with you on the specifications of your home. This could cost you from 2 - 5% of the construction contract price.
Another option is to bring your ideas, pictures, sketches and verbal ideas to Lake Luxury Homes. We will create your dream home together with you and draft your plans needed for financing, as well as construction.
Whichever path you choose, we want you to be a part of the design process. If we work with your architect, we can improve consultation on cost issues and pragmatics or "field technology." It is our opinion that the building team and the design team should join forces from the very beginning. This helps to ensure that lofty dreams do not burst the financial bubble. Design, budget, and pragmatics go hand-in-hand.
Where does the actual design start? With YOU! Your lifestyle, your preferences, your needs... Pictures, sketches, written and verbal ideas will all help in getting started. Number of bedrooms, bathrooms, living areas, work areas - all of this information is provided by you. Conceptual drawings are completed first, along with preliminary specifications. Once the concept is worked out with regard to size, number of rooms, and style, the working drawings are completed along with final specifications.
From the beginning of the design phase, budget is a major consideration in creating the plans and specifications.
Construction costs are estimated in very broad terms in the beginning; the margins are narrowed after the conceptual plans are completed, and a contract price is given after the plans and specifications are finalized. At each stage, alterations can be made to achieve the desired budget costs. Lake Luxury Homes cannot give a price of so many dollars per square foot, or total under one roof. What about decks, patios, tile, porches, garage size, hardwood flooring, carpeting, etc.? All of these things make a difference in cost and vary from one project to the next depending on our clients' preferences. Every project is priced according to the materials, labor, fees, and supervision which will be required to complete that particular project by the plans and specifications. There are no standard items, everything is custom.
Again, while it is preferable that Lake Luxury Homes be involved in the design process from the beginning, we are sometimes asked to join in after the conceptual plans or even the final plans are complete.
Financial Considerations
Finances have been comtemplated throughout the design phase. After the design is finalized, one of the first things to be done is to address the financial matters. While constructing the project, Lake Luxury Homes will need to make periodic requests for payment or draws. Each payment will be credited to the Contract Price, with a final invoice submitted just prior to closing. The first payment will be made as a deposit at the time of contract signing. This generally ranges from $500.00 to $2,500.00, depending on the size of the project. Subsequent payments will need to be made based upon a percentage of the completed work each month. The requests for payment will be submitted to you, your lending institutions, and/or your architect. Payment is expected within 7 calendar days.
Where will you get the money? Some people pay from personal cash reserves; most take draws on a "construction loan" obtained prior to contracting for the work. Lake Luxury Homes has relationships with several local lending institutions which would welcome the opportunity to talk with you. We receive no form of compensation from these institutions other than quality service for our customers.
In most cases, Lake Luxury Homes will carry all costs during the construction of your new home. When we bid your new home we will figure in all fees and interest associated with the construction process. Once your new home is completed, you will reimburse Lake Luxury Homes by obtaining a permanent mortgage. For a custom built home of such magnitude, we usually require $15,000 to $25,000 non-refundable deposit before construction begins.
We welcome the opportunity to build your dream home and hope that you will join our list of satisfied customers.