Home Building Process

Financing Your Home: Financing Options Explained

There are many important factors to consider when designing a custom home and we want to make sure we touch on them all. Let’s begin by first talking about budget. If you have already spoken with a lender and have a budget in mind for your new home, that’s great! If not, we can recommend several different lenders that can assist you.

There are also important considerations to make in respect to the type of financing, if any, you are most comfortable with. Many custom home builders require their clients to secure a construction loan prior to work commencing on the new home. This is a fine option if you already own the land where your new home will be built. If you have not yet purchased a home site, however, turnkey financing is another possibility to consider. Most builders will not offer this option to their customers, but Halen Homes is not most builders!

At Halen, we may be willing to offer a solution that doesn’t require you to secure separate loans for the lot and for construction. Instead, our turnkey financing option allows you to obtain a traditional mortgage and close on the home and land all at once – and not until AFTER your new home is completely finished! We will help you explore the different financing options and find the one that is best for you.

Lots, Rural Land, Subdivisions: So Many Options

Once we know your budget, we can start talking about the specifics of your home and the land it will be built on. In respect to the home site, there are several things to consider and we can help you think through all of them.  Location, proximity to your job, school district, tax rates for the area, and price are just a few of the things you will want to think about when choosing a location for your new home.

Before we get to that, we will discuss the features you are looking for in a home site and the implications they have on your home’s design. For example, you may be interested in incorporating green-building technologies into your new home to reduce your monthly operating costs and reduce the use of the earth's natural resources. If so, we may want to consider factors such as the direction the home faces on the lot, the amount of natural sunlight you would like to have in each room, or the lot's ability to accommodate a geothermal heating/cooling system.

Maybe you've always dreamed of having a finished lower level, complete with a rec room, bar, and home theater. If so, considering the slope of the lot will be important in determining whether or not we can add doors from the basement right out to the yard. All of these site-specific qualities will affect your home’s design. Our real estate professionals will make sure everything is thought through as we hone in on the perfect place for your new home.

Custom Home Plan Design

Next, we’ll get into the fun part, and that is gathering all of your ideas and visions for your new home and putting them on paper. Maybe you’ve found a plan online that you like – either from our portfolio of home plans or from another source – but want to make some tweaks to. Or maybe you’ve sketched out your ideas on a napkin and want us to bring them to life.

No matter what your situation, we’ll work with you to develop your wants and needs into a set of perfectly designed home plans. The excitement will really start to build when we unveil your home plans that show your marvelous chef’s kitchen. Or your spa-like master bath complete with steam room. Or the mother-in-law suite that includes accessibility features for aging in place. Whatever ideas you may have dreamt up for your custom new home, we look forward to making them a reality with our home plan design service. Our worry-free “You Design It” process does just that! Not only will you end up with a custom set of home plans that incorporate your wants, needs, and vision, but you will also learn everything you need to know about the custom home building process. 

Custom Home Pricing Guarantee

At this point, we’ll have everything we need to provide you with a base price for the home we’ve designed together. This custom home price will include our impressive set of standard building specifications and features. A few highlights include 2x6 framing, central air conditioning, high-performance components (windows, heating/cooling equipment, ENERGY STAR appliances, etc.), ceramic tile and wood laminate flooring, architectural shingles, and recessed lighting, to name a few.

The next part of bringing your custom home to life is to take it one step further and add in the personalizing options and amenities you want to have. A few examples could include exotic hardwood floors, granite countertops, arched doorways, additional garage space, custom tile for your kitchen backsplash, or unique paint colors for every room of the house. The possibilities are truly endless and our only limit is your imagination.

Once we have gone through and figured out the cost of the house and all included options, we will then add in the cost of the lot and site improvements. Home sites are like snowflakes - no two are alike. As such, the cost of building your new home will vary from one lot to the next.  Our team of production and land experts will exhaustively research the requirements for your lot and come up with a finalized price. We're so confident in our work that once the Home Construction Agreement has been finalized and agreed upon, this price is guaranteed not change (unless you choose to make changes to your options package, of course). With other builders, you may be surprised at how the price can change after construction begins.  With Halen Homes, we eliminate the surprises and alleviate the fears of cost overruns. That's our custom home pricing guarantee to you.

Home Construction Agreement to Build a Custom New Home

The concept, design, and pricing of your custom new home is nearly complete. If you like everything you see so far and want to make your dreams of a custom new home a reality, we are ready to present you with the Home Construction Agreement for your review. 

This document is a formal agreement between us that governs the relationship moving forward. The pricing reflected in the Home Construction Agreement may include the base price for the home we will build for you, any options and upgrades you’ve selected to this point, the cost to fully improve the lot your home will be built on, and possibly the cost of the lot (depending on your financing arrangement).

This price is guaranteed not to change. You heard us correctly – no cost overruns! Other builders often present a too-good-to-be-true price up front to get you locked in, but then pass on any cost overruns to you. This means the true price of your new home is never really known until after you’re done paying for the unexpected items you thought were included. With Halen Homes, you will never be asked to pay more than the price we all agreed to in the Home Construction Agreement unless you decide to make changes to your home or the amenities included. Our exhaustive due diligence and tightly controlled building process allows us to guarantee your pricing and deliver your finished home in a timely manner – often as short as 90 days after construction begins!

New Home Design Process

One of the most exciting aspects of building your new home is personalizing it and creating a space that reflects your unique lifestyle. This all happens at our design studio where you will select your finishing options and watch your new home really come to life!

During your personal new home design session, you will meet one-on-one with our professional design consultant who will walk you through the selection process step by step. We first begin by selecting the exterior materials and colors, which may include siding, trim, shutters, shingles, front door style, and stone or brick options.

Next, we’ll move to the inside of the home and discuss your preferences for flooring, lighting, colors, textures, and more. We challenge you to use your imagination and tell us all about your dream kitchen, high-tech rec room, or spa-like master retreat. Our designer will help you turn your visions into a reality!

If your new home design features materials or products that are truly unique, our new home design process allows for flexibility in the sourcing of finishes and materials for your home. We look forward to working with you and bringing your visions to life!

Home Plans / Blueprints Review

Now that we’ve defined all of the different aspects of your custom new home, it’s time to have the plans finalized by our professional architect. We’ll incorporate any changes you’ve made to the electrical system, structural layout, or finishing options and review everything together. Once you’re confident that everything is in place and exactly as you want it, we’re ready to proceed!

Final Deposit and Loan Committment

With your plans finalized and your options selected, we now know – and will guarantee – the final price of your new home. We’ll complete some final paperwork that reflects your guaranteed price and obtain your loan commitment and final deposit, which is usually only 5% of the home and lot package price. You can keep the rest of your money in the bank because you won’t owe another penny until your home is complete!  If you’re securing a construction loan for your new home project, now is the time to make sure that your financing is in place.

Your New Home Construction

This is an exciting time! Upon obtaining the necessary permits, your new home construction process will begin and will take about four months to complete. During this time, we will keep you informed on the new home construction progress that is being made with regular updates and photos. We will also invite you to the new home construction job site at various points throughout the process to show you around, explain how things work, and answer any questions you may have.

Your Home Building Manager will be there every step of the way to ensure that everything with your new home construction is proceeding as planned and help to point out all of the features that make your new Halen home superior to that of other builders' homes. We’re sure that you’ll be impressed with how quickly things move along as your new home springs up out of the ground and becomes a reality.

Closing on Your New Home

We’ve finally made it! Your new home is finally complete and it’s time for the big day – closing! We will get together prior to closing to walk through your new home together. Your Home Building Manager will take you through your new home room by room to explain how everything works and give you tips on how to best care for your home.

Once all of your questions have been answered and you feel comfortable knowing that everything in your new home is exactly as you have been dreaming of, we’ll arrange the closing appointment. Despite all of the signing, this process is painless and usually pretty quick. At the end of closing, ownership of the new home will be transferred to you and you’ll walk away with the keys in your hands!

New Home Warranty

Despite our best efforts to build your new home completely free of blemishes and imperfections, you may find a flaw that you’d like to have us look at. For this reason, we offer a comprehensive new home warranty with your Halen home.  Simply place a call or e-mail to our Customer Care Coordinator and we’ll schedule a service visit to address any warrantable items that you may be concerned with. Your satisfaction is our number one goal and we encourage you to contact us if you have any questions about your new home warranty.

If you are an existing Halen Homes owner and have a question about your new home warranty or would like to submit a service request, please contact us.