If you are new to home building as a first-time buyer, you may feel intimidated and overwhelmed about the all of the choices you will be making. Home building can be a very rewarding and very stressful experience. Home building in a development is very different from building a custom home on your own lot. Working with a contractor is different from building your own home. You have many choices for features and building materials for your home as well. It is important that you educate yourself as much as possible when you go through the home building process.

Homes in a development will generally not have as many unique features and customized design options as other homes. But, if you have limited funds this may be the best way for you to get into a home of your own because you will not have to pay so many design costs. If you have more money to spend on your home building project, some luxury housing developments allow for more elaborate features and more customization.

On the other hand, you may want to have a custom built home. Custom home building requires a lot more decision making because not only will you be deciding on where your home is built, you will also decide on your own floor plan and features. If you are working with a contractor, you will also need to find a reputable one. You can check with the home building organization or contractor’s organization in your local area or state for recommendations. The Better Business Bureau also keeps tabs on local contractors. Your contractor should be licensed, bonded and insured.

Many people who are trying to save money on their custom home building do some of the work themselves. If you are working with a contractor, you will want to make sure that this is something they are willing to have you do. You can save a lot of money by doing work on the home yourself and you may even learn a few new skills in the process.

In a custom home and in some developments you can choose what types of materials are used in your future home. One choice that is getting more popular is “green” building materials such as steel framing or roofs, energy saving windows and recycled or salvage materials. This is a way that you can save money now and in the future.

The location of your custom home depends on what you can afford and your lifestyle and tastes. It will affect the value of your home in the future and should be chosen carefully. Think about access to utilities and amenities as well as how much land you want.

Eriani Doyel writes articles about building. If you would like more information about homebuilding visit reedbuilding.com

Article Source: http://EzineArticles.com/?expert=Eriani_Doyel

Atlanta Home Builders - Like the idea of living in the state of southern hospitality? Take a look at the Atlanta home builder communities to see if you can find something for you and your family. Available below are some links to notable home builders in the Atlanta area.

McConnel Homes - Have your own idea of a home? Have yours custom built with McConnel Homes. This home builder is respected in the Atlanta community and offers energy efficient and environmentally friendly homes.

Beazer Home Builder - Beazer Homes is an Atlanta home builder that offers townhomes and single-family homes between $100,000 and $600,000. Take a look at the floor plans to see if any of the designs catch your eye.

John Wieland Homes - Move to you new Atlanta home in one of John Wieland's communities. There are 37 communities in the Atlanta area, so finding something that fits your taste should be no problem. Take a look at the different locations and price ranges to see which you like.

Eco Custom Homes - Just as its name hints, Eco Custom Homes is a builder that offers eco friendly solutions to new and already existing homes. You can buy one of their semi-custom homes, which are older homes that were remodeled with eco-friendly features. There are also some current or recently completed projects you can look into, so make sure to take a peek.

Dr Horton America's Builder - This is a national home builder that creates over 41,000 houses annually. You can find some of their various homes in the Atlanta area. There are 36 communities available with various price ranges and designs.

Looking for your new home from an Atlanta home builder? Browse through the available links to see what you can find for your family. There are all types of home sizes to fit families of all sizes, so you are bound to find something.

Paul is a principal of NewHomesSection.com. Search home builders and Atlanta home builders today!

Article Source: http://EzineArticles.com/?expert=Paul_Escobedo

Building a house nowadays, is a decision which entails heavy costs, problems relating to finance and construction, delays in delivery and quality problems, titles, delays on building permits etc. Building a house is an investment decision, which should be studied carefully, as most families built a house once in their lifetime and the final decision in most cases can be irreversible. Below are some general guidelines, which could help the owner to assess the cost of building a house, since small items, which could build up the cost of the house, are usually ignored.

Cost of building plot

Prior to the commencement of construction of your own home, at least the plot should be, or nearly be paid. This will certainly give you an advantage with the financing of the building cost for the house and it is a prerequisite for all financiers. For the transfer of ownership of the plot a Governmental transfer fee of 7%-8% (on average) is required on the market value (not necessarily what you paid for) of the plot.

Cost of the Mortgage & Finance

To register a mortgage, a fee will be paid to the Land Registry Office of about 1% on the Mortgage amount. Normally the mortgage amount is the actual loan %2B 20% on top. You will have to pay the stamp duties and other Bank expenses, which could take the form of once and for all Bank charge (say, on average CYP1000). If you borrow from a bank there is an additional charge of approximately 1.5%-2.0% p.a. on top of the legal base rate of 4.5%. There are now many alternative housing schemes including Life Insurance finance, Co-Op financing etc which extend for 25-40 years and own contribution approximately 20% (usually through term life insurance).

Cost of Architectural Drawings

It is imperative to use a qualified Architectural Office which will have the responsibility for the work done. You should not compromise on this, since the Architect is the most important person in the whole process of building your house. Yes, go to different offices and do discuss fee levels and then make your decision, but always use a qualified architect. Rates are normally around 5% on the total cost of the building and includes the design and supervision. Some architects go up to around 6%-8%.

You will also need to employ a Civil Engineer to carry out the structural design. This cost, with supervision is approximately 1% on the cost of the building.

The cost of the building referred to, includes all items, but not the fees paid to the Authorities and decorative items. So please clear the matter with the Architect, Engineer, etc., what is included is the total building cost.

Cost of Building Licence

The Town Planning Department charges for the issue of the licence will cost you around £300 and for the building licence an added amount of £150-£200.

Cost of the Quantity Surveyor & M/E Engineer

If you wish to engage a Quantity Surveyor for the building, a fee of 1% of the total building cost is required. The cost for a mechanical engineer (for large buildings) is approximately 3%-5% on the cost of the Electrical and Mechanical Budget. Although the use of the above is optional, it is recommended for large and complicated buildings.

Cost of the building

Below you will find a guide of the building costs:

Normal quality house

* CYP500 per sq. meter for the covered area
* CYP150 per sq. meter for the uncovered veranda
* CYP250 per sq. meter for the basement

Good quality house

* CYP550-CYP650 per sq. meter for covered area (depending on quality/facilities)
* CYP180 per sq. meter for uncovered area

Plus the cost of a garage (£3000), water borehole (£1500), fencing and garden (£3500-£4500) for normal plots sizes.

Costs to other Authorities

Extra costs have to be paid for connection to the Water Board, Electricity, Telephone and Land registry Office (demarcation, issue of title etc) estimated at about £1000 in total.

-Total cost/sq.m. for a (250 sq.m.) house
-House 250 sq.m. @ £550/sq.m. £138.500
-Fees and Licences £9.000
-Interest on Loan (say) £6.000
-Other Authorities £1.500
-Garden etc. £3.000
-Sundry other expenses £4.000
-Total cost £162.000 or (£745/sq.m.)
-on top add 15% V.A.T.

The purchase of equipment and installation cost of central heating is an addition and costs approximately £20/sq.m. and for the airconditioning system, an additional amount of approximately £40/sq.m.

A large number of people act as their own contractors for the building and subcontract all the various jobs and supplies of the work. Where the owner is able and with sufficient knowledge and has the time to carry out the supply and coordinating function, there could be a possible saving of 8-10% on total cost. Going further, if "weekend housing" is put into effect (whereby all the family and friends offer themselves as labourers, skilled and unskilled) then the cost can be reduced by 12%-15%. Obviously, in both cases there is the strong danger that the quality will suffer and the time of completion extended.

In recent years, with the introduction of VAT and the increase in labour costs, we have experienced an increase of 7-10% per year, in building cost, a level which is higher than inflation. This has made the building of a house that much more difficult. A house can take approximately 18 months to be completed.

A last item that can cost between 5%-8% in addition, is the right of the Contractor to ask for increase in labour costs and materials prices during the period of construction. Therefore a certain amount for unforeseen costs should be included in the final costing.

Unfortunately in Cyprus we have not reached any stage of prefabrication, whereby sections of the house, windows, doors, kitchens, etc., are prefabricated so that there is a reduction in costs. Also the shortage of skilled labour has created a certain indifference to the quality produced and should always be watched.

The problems related to the building of a house and the related delays have caused the market to direct its interest towards ready houses (a circumstance which did not exist 7-9 years ago). We expect this trend to continue with a positive effect on the value of ready homes.

http://www.aloizou.com.cy

nicosia@aloizou.com.cy

Mr Antonis Loizou FRICS, is the Managing Partner of Antonis Loizou & Associates, a professional service provider based in Cyprus.

Mr Loizou has practiced in the UK and Cyprus for over 30 years, has a long track record of providing advice on complex real estate projects, writes regularly in the financial press, and is involved in the highest levels of the Cyprus government influencing policy.

Article Source: http://EzineArticles.com/?expert=Antonis_Loizou

In this modern era of convenience shopping, buying a house is probably the most longwinded purchase you'll ever make. One of the major time eaters of the whole house buying procedure is the conveyancing process, which is the transfer of ownership of real estate from one person to another. It may sound like a very simple process but it can easily take two or even three months to complete.

As it a legal process, a large majority of people employ the use of a solicitor or licensed conveyor to carry out all the legal work. The conveyancing process begins in earnest once an offer has been made and accepted on a property and both parties have exchanged details of their solicitors. However, even once you have accepted the offer, you must remember that it has been made subject to contract and survey. Your solicitor then liaises with the other solicitor at what appears to be a snails pace to complete the legal documentation that is required in transferring ownership. As the process can be very slow it can become very costly, so many people are now making the decision to do their own conveyancing. However conveyance is one of the areas of the property transaction that is the riskiest, most labour intensive, and filled with a vast amount of legalese (legal jargon). But you will find that doing it yourself will save you hundreds of pounds, as there will be no fees to pay, no mark ups or VAT on any disbursements that you may have to pay to a legal professional..

If you do some research before hand it can be beneficial because it can help you have better knowledge of the whole process of conveyance. The main benefit of doing your own conveyance is that you maybe able to do it much quicker if you devote the sole of your time to it.

However not everyone should rush out and do their own coveyancing, this is because it is very complicated and you need to be confident in your ability of not to make a mess of it, as you could face severe penalties for any mistakes. Also make sure that you do not miss any thing from the list of activities that a solicitor would normally do. If you do everything in a sequence and in plenty of time it should be fine.

The main problem that you are likely to face would be the lease and the contract. This is because it is the part where the solicitor would draw on their expertise on the process. So you need to careful and attentive and thorough in all your dealings with these documents. Also make sure you understand all the terms and conditions and the implications of all the clauses. Keep checking everything you have done and make sure everything is spelled correctly.

Even when you are sure you have done everything, it may still be worth getting a solicitor to give your work the once over and to ensure you haven't missed anything important or made a huge blazing error. You should be able to find a solicitor who will do this for you for around £100. Hopefully after getting every checked over by a professional it should bring you peace of mind.

The process of doing the conveyance may seem to be long a labour intensive, but if you are dedicated enough and organised enough to do as much research as you can, any thing is possible. But it is important to remember to keep checking what you have done.

Fazila is the author of several conveyancing related articles.

Article Source: http://EzineArticles.com/?expert=Fazila_Mir

Designing a home can actually be quite a difficult and technical thing, there are always certain things that people don't feel comfortable doing by themselves and so would always want to leave in the capable hands of a professional. Most people do not bother designing their home renovation project, instead they will get a professional to help them out.

Lots of people simply don't realize that they could do all of this planning by themselves and fairly easily too, you can do this using computer software. This doesn't only help with planning but will also help you understand certain aspects of the interior design process.

There are many different types of home design software which is available, you do not actually need to choose the most advanced piece of software. You should choose carefully depending on what you want and expect from interior design software.

Walls

The best lesson that you will learn from any home design software is about walls. This software should show you how you need to place walls so that things don't just fall down. It's very important to understand load bearing walls and the dimensions of the walls. These things may all seem very easy, however they are very important things to know. You not only use home design software to learn how to build a home, but also to see how it will look when it's completed down to the country curtains covering the windows.

It might not be possible to create a wall at a particular angle for a number of reasons. This design software will help you to understand the reasons behind this and why it's just not possible. You might also discover that some seemingly simple elements of design are extremely complex, home design software can make it much easier for you to know these things. This software can also give you a better understanding of how different elements of home design work together.

Studying Things

A house needs to have protection to make sure that the rain and elements do not damage your house. To understand this protection you need to know about water tables, and how they affect the building. You will be able to learn plenty of information about water tables using this home design software. Few people are able to understand how they should design the outside of their homes to prevent water getting inside. It's very important to thoroughly understand how to weatherproof your home

Building a home is quite complicated, there's a lot that you need to learn about. Using design software is a fantastic way to learn about this complicated project. You will no doubt be surprised just how much you can learn from this valuable piece of software.

Home design software can make a complicated task much simpler and more enjoyable. Spend time choosing the right piece of software and you won't go far wrong.

The essayist Ken Morris is particularly passionate about news associated to country ruffled curtains. His observations on country curtains are published on his webpage as well as various other online sites.

Article Source: http://EzineArticles.com/?expert=Ken_C._Morris

1. What is a good construction loan?
A typical construction loan nowadays is a construction to permanent loan that may or may not allow you to lock-in todays low interest rates until the home is completed. If you choose a loan that does not allow you to lock in upfront, the interest rate may end up higher along with your monthly payment.

2. Should I use A Broker?
The most important thing when searching for a good construction loan is to find an experienced construction loan specialist that knows which banks are the best. A broker is a representative for hundreds of banks. Although the broker serves as middle-man, his or her services will not cost you anything extra. That's because brokers get loans at wholesale rates, and pass them along to their clients at retail prices, just like any other business.

* Wholesale and Retail - The difference between wholesale and retail is how brokers make money. Therefore, you get the same rate from a broker as if you went directly to the lender yourself.

* In Fact, because or their volume, many brokers are able to offer their clients better deals than you can get by talking to the banks on you own.

* With an experienced construction loan broker you can shop dozens of the most competitive banks nationwide, work with wholesale pricing and can negotiate on rates and pricing. Also by submitting multiple loans at the same time you will not lose extra points on your FICO score.

3. When Should you lock in your construction loan before you start building, or let the interest rate float?
If the rates are heading upward, lock. If the rates are stable, relax. If the rates are headed downward, float. Right now interest rates are at an all time low and can only go up. Lock into the best interest rate with the ability to float downward.

Inexperienced loan officers will offer their customers an enticing low adjustable rate during construction without an upfront lock-in and the customer may end up having to lock into higher interest rates when the home is completed. Or the customer is sold on a higher rate during construction with a float down option after the home is built. Again, the rate could be much higher when the home is completed. Meanwhile the loan officer has been paid and has moved on to the next loan. The only time you want this type of loan is if it's the only loan you qualify for.

Most loan officers do not explain this to their customers until it's too late (Closing). Always ask. Is the construction loan rate locked upfront or floating during the construction loan period? Then ask, is the rate during the construction loan the same rate when the loan converts into the mortgage period.

How do I qualify for a construction to perm loan, and what are the procedures?
The first thing your loan officer wants to see is your completed loan application. The loan application called the (1003) will tell a story of your financial picture.
The completed loan application will tell the loan officer many things including,
1. What type of loan you want.
2. How much money you need.
3. Your social security number.
4. Your current employers.
5. A list of all you assets (money) and liabilities (bills).
6. How much money you make.
7. How much real estate you own.

Once the loan officer has your loan application in hand they can determine whether you can qualify for a loan. One of the first items pulled is your credit report. The credit report is going to tell 3 main important things.

* Show your current credit score. The credit score can range from 500 to 800.

* Show a complete list of all your monthly liabilities (bills).

* Show all past credit problems including bankruptcies, foreclosures and late payments.

With this information the loan officer will do an analysis to determine if you can qualify for the loan amount that you're looking for. This analysis determines a ratio called the (income to debt ratio) and depending on the banks underwriting guidelines this ratio will usually range from 36% to 45%. The income to debt ratio is the percentage of monthly debt payments (including your new mortgage payment, taxes and insurance). This ratio should not exceed 36% to 45% of your monthly income. Some banks will allow you to exceed this ratio if you have an excellent credit history and excellent credit score. The current and the most popular method of qualifying for a loan today is the stated income loan. Banks are currently changing underwriting guidelines because of the amount of bad stated loans they are foreclosing on.

Stated income allows you to qualify without verifying your income on your tax returns, W 2's or pay stubs. The only thing the bank verifies when applying for a stated income loan is your credit score, liquid assets and that you're employed.

4. "Bait and Switch" Don't be taken by one of the oldest tricks in the book
The mortgage lending business is notorious for baiting and switching. Baiting and Switching is when a loan officer or advertisement offers you one thing and then tries to sells you something else.
Typical signs of baiting and switching are obvious, some basic examples are:

* Over the phone, you are offered a much lower rate than any other quote and once you've sent in your application the rate you were quoted has all of a sudden vanished.

* You are offered a construction loan with no points and no loan fee's. What you are not told is that you are paying for it with a higher interest rate and the costs are built into the loan.

* You are told that you will not have any payments while you're building. What you're not told is that all construction loans have this option and it's called "interest reserves" and the payments are added to the loan amount.

Remember three important facts and you will always be in good shape.
1. If it sounds too good to be true there's usually a reason.
2. Always get your quote in writing, (ask for a good faith estimate).
3. If you are satisfied with the rate and construction loan program that you are quoted, ask to lock it in upfront.
On the flipside, it is very important to realize that most loan products typically go hand in hand with banking guidelines. These guidelines are provided to loan officers to coincide with the customer's qualifications.

For example, if you have a very high (FICO) credit score with land free and clear, you have more loan options than the person with a very low (FICO) score and no land equity.

5. Banks really don't want you to know this!
All banks have access to the same rates and the only reason everyone ends up with a different rate is directly related to how much your loan officer and bank is going to profit from you.
You should probably read that one again.

Your loan officer gets paid like all sales people either by:

* Salary plus commission

* Commission only

It doesn't matter if you walk directly into a bank or work with a broker, basically everyone gets paid the same. If you walk directly into a bank the loan officer most likely gets a basic salary and a percentage of the loan origination fee (points and yield spread premiums). If you work with a broker the broker usually works on a straight commission (points and yield spread premiums). Becoming a broker allows the loan officer the ability to offer their customers the best loans with the most options.
It always amazes me when I see TV commercials or hear radio commercials advertising $395, zero closing costs. I always wonder if people understand how they can do that.
Ok, here is how it is done.

The inside secret is that in exchange for these low or zero closing costs the lenders will make their profits and cover the costs of the loan by charging you a higher interest rate.
This higher interest rate pays what they call in our industry a (YSP) yield spread premium.

By charging you a higher interest rate over the life of the loan the bank can easily afford the commercials, commissions, payroll, and cover the costs of the loan while still making a profit. Also the service is usually very poor and impersonal.

So the next time you see advertising with no closing costs you will know exactly how they are doing it.

So please remember that there is no such thing as a free lunch in any business. Business wouldn't be business if there were no profits. The most important thing is that you want the best loan available at a fair price with an experienced loan officer.

6. What are interest reserves and contingency funds doing in your closing costs?
The two things most customers do not factor into the cost of the building their new home are interest reserves and contingency funds.

Interest reserves are added to your loan amount to make the monthly payment on your loan. Yes, you read that correctly, you will not have to make a monthly construction loan payment while your home is being built. The payments are made from this interest reserve account and no, it's not free. This reserve is added to your construction loan amount. Interest reserves were designed for the benefit of the customer. Most people building a new home are either paying rent or have an existing mortgage payment while their home is being built.

The last thing a customer needs is another monthly payment while building. So, banks created the interest reserve account by adding up the estimated interest payments over a 12 month period and add this to the loan amount.

If you do not want interest reserves added to your construction loan amount you can ask to make your own monthly construction loan payment. Contingency funds are added to the loan amount just in case you need more money to build your new home.

With all good intentions construction loans tend to have cost over runs. The bank adds 5% to 10% of the cost breakdown and adds this amount to the loan amount just in case you have cost over runs or need better appliances. If you don't need or use this extra contingency fund then it will not be added to your mortgage upon completion of your new home.

So when you apply for a construction loan ask your loan officer to provide you a copy of the estimated construction loan budget. The budget is created from your costs and includes every cost within the loan including land balances, closing costs, interest reserves, contingency and bank fees.

http://orlandoreunionresorthomes.com - http://orlandoreunionresorthomes.com/blog F. Lanni is a Top Producing Realtor In The Million Dollar Club

Article Source: http://EzineArticles.com/?expert=F._Lanni

"Rogue builders" although in the minority definitely give the construction industry a bad name and hardly a week goes by without there being yet another TV program about the so called "Builders from Hell". With the help of hidden cameras these "Rogue Builders" are exposed in front of millions of viewers when they blatantly try to cheat customers out of their hard earned cash.

So how can you protect yourself from these unsavory characters who unscrupulously rip off unsuspecting members of the public? The following are some helpful suggestions to consider before hiring a builder.

1. Always ask for references and details of previous jobs. Go to see these jobs wherever possible. A good builder will be only too pleased to show you evidence of his expertise.
2. Be wary if they offer 'cheap deals' for "cash-in hand" jobs or suggest you can avoid paying VAT for cash.
3. If they do not want to commit themselves to a written contract they should be avoided like the plague.
4. If they say they can start immediately be wary, as a good builder is usually busy.
5. If they give you a surprisingly low quote you should treat this with suspicion.
6. If they seem reluctant to look at plans or to discuss the details this should also set off alarm bells.
7. If they can only be reached by mobile phone and are reluctant to divulge where they live then this should be seen as a red flag.
8. If they try to baffle you with complicated explanations when asked seemingly simple questions they may be graduates of the "If you can't convince em confuse em" school of builders and you know that it may not be in your best interests to employ them.
9. If they say they are a member of a trade association, make sure to check it out as anybody can say they are a member when in fact they are not.
10. Get at least three written quotations from various builders and be very specific about what you want done.Leave very little room for misunderstanding and this will pay dividends further down the line.
11. Now is the time to clarify everything and make sure that no gray areas exist especially regarding payments and when they should be made.
12. If any problems arise during the building work sort it out with your builder straight away and make sure he fully understands your instructions.

If the above guidelines are adhered to then there is no reason why the build should not be painless and trouble free. If you need to hire a reliable builder go to http://www.thelondonbuilder.co.uk

Article Source: http://EzineArticles.com/?expert=Peter_O_Loughlin

For people who are looking for an investment where it is also possible to enjoy a bit of travel and take in some culture from a different country, Turkey is renowned as the most popular tourist destination in Europe and for this reason buying property is also becoming popular in Turkey. So, for those who are hunting for the perfect investment and holiday destination in Europe, get busy and buy some property in Turkey that will bring you profitable returns in the future. Turkey is still an unknown gem for property investors, prices for beautiful housing is still low, therefore when the housing and property boom which has overtaken the world hits Turkey, ensure you are in “ the driving seat” where you can benefit from buying an affordable investment and sell it for a great profit.

If you think this may be a good option for you, where you find yourself in a position to have an overseas investment in property, consider the benefits of investing in Turkey and seek the advice of Turkey property investment professionals. Getting professional help and assistance in acquiring your dream holiday property/ investment property can be beneficial in that you will be able to get expert advice on property investment opportunities, assistance with the paperwork, assistance in translation and more. Professional property experts can, in the end, save you time and money when you are making decisions and purchasing your Turkish Villa.

The property land value in Turkey is increasing by over 30% year on year for the last five years, therefore, using a Turkey investment property expert may help you find your investment property faster and help you finalise the buying of your chosen property quicker. We recommend that you buy now, and watch your property value climb. For many holidaymakers who are interested in having a permanent holiday house in Turkey, the option to rent out your Turkish villa is also available. Professional Turkey property investment companies will not let your Turkish Villa stand empty while you are away, you will benefit from a growing rental market in Turkey that will allow you to pay off and contribute towards your repayments.

Using a Turkish property expert company means that you will get individual and personal attention, this means that these professionals are aware that each person has different needs. Property investment professionals will help you find the perfect investment property to suit your individual needs, tastes, desires and dreams. So, save yourself time and unnecessary stress and use a investment professional when searching for the perfect investment opportunity in Turkey.

New House Construction loans are different from those loans that are used to purchase already existing homes or what is called a refinance. Mortgages used to purchase homes which are already constructed, use the home as collateral for payment of the loan. If in case you fail to make scheduled mortgage payments, then the bank takes ownership of the home and it will sell to get the amount of the loan.

With a new home construction loan, there will be no home to use as collateral because the home is still to be built. In that case, the bank will have your word as guarantee for payment of the loan. It would be good if banks could simply consider your word for it, but when hundreds of thousands of dollars and sometimes millions are at stake, John Smith’s signature is not enough for the bank to simply hand over a check for you to begin construction.

Because of the nature of the home building process, the financing process concerning a new home construction loan is more stringent. Once the lender has accepted you to borrow a new home construction loan, a schedule will be outlined again. In this draw schedule, the lender tells how the loan will be disbursed.

Typically, new home construction loans are disbursed in 25% increments. 25% of the loan amount will be given to you by lender,when you complete 25% of your construction. The lender requires an appraisal of the progress to ensure himself that said work has been completed.

You need not make any payments on your new home construction loan until or unless the original disbursement has been made. At that moment, only interest payments will be due on the loan and a good news is that you need to pay only for the portion of the loan that has been disbursed.

The more you construct the more loan of your's is disbursed, your monthly payments will be increased and this will happen because each time you are paying interest on a huge amount of money when a disbursement is made. Your entire balance of the new home construction loan will be due,when you complete your construction completely.

Don’t panic. You will have a way to pay this balance well in advance. “How”, you ask? Before you make a approval for a new home construction loan, the lender will ask you first to approve for a mortgage. To ensure mortgage approve, the new home construction lender will request a assurance letter from the lender of your mortgage.

Once construction is complete, the amount of the mortgage is used to pay you back the balance of the new home construction loan. You have a chance to choose between a one- or two-time to close new home construction loan. The primary difference between the two types of loans is the time at which the interest rate is locked in. When you choose one-time closing, both the construction loan and the mortgage closes at the same time,and locking the interest rate for both loans. On the other hand, when you choose two-time closing the construction loan closes first, and then the mortgage closes when you complete your construction.

You probably know someone who has built a custom home. Chances are you heard their stories of construction delays and going over budget. These situations often result from a homeowner not being fully prepared prior to beginning the process. While the thought of the ultimate home with all of your desired features is intriguing, you don’t have to let the actual process of building your dream home be overwhelming.

So, go ahead and come out from hiding and remember this wisdom from Anatole France who once said, “To accomplish great things, we must not only act, but also dream; not only plan, but also believe.”

It is true with a dream home isn’t it? It would not be called a dream home unless it was first a dream. But with all dreams, there is reality. And in the case of building a dream home, the reality is having a sound plan in place. Otherwise, you could be faced with a nightmare situation of delays and budget problems.

Follow these seven rules to get past the hurdles and start on the path to successfully build a custom, dream home:

1. Look at Needs vs. Wants: You typically will not get everything that you want in your dream home. Determine your needs first, such as the number of bedrooms and bathrooms, an office, garage, kitchen, and family room. Then evaluate other features that you want in your home but are willing to forego if they cannot work into the overall plan.

2. Evaluate Costs: Look at the costs for the features you want, such as a pool, media room or a wine cellar. Then prioritize the rankings of your wants. Be prepared to nix some from the list.

3. Determine the Style: Deciding on the style of home you want is very crucial in determining the home you want to build, but keep in mind that the style can affect your budget as well as building and supply costs. Round turrets, multiple elevations and complex roof lines can be costly.

4. Look at C.C. & R.’s: Make sure your home’s style, elevations, exterior finishes, colors and square footage comply with the Covenants, Conditions and Restrictions (CC & R’s) for your neighborhood before you finalize your house plans and break ground on your project. Also, be sure to obtain architectural approval if required.

5. Set a Realistic Budget: Accurate budget planning is important to prevent any surprises when it comes time to start building your dream home. Obtain actual quotes with itemized costs and supplies from subcontractors to prepare a detailed budget.

6. Feel Comfortable in Decision-Making Process: Be prepared to make decisions. When building a custom home, you will be picking everything from lighting and plumbing fixtures to appliances and exterior veneer materials, so it is important to feel comfortable in the decision-making process. Do not labor or fret over your decisions. If you like it, go for it and do not second guess yourself after the fact.

7. Get Detailed House Plans: Obtain a set of stock plans or custom design them with a home designer or architect. Make sure the plans provide specific details about the size, specs and dimensions so that you are getting the exact house that you want. Also, be sure to have your plans engineered by a licensed structural engineer.

Although London now ranks above Monte Carlo in terms of property prices, recent figures released by estate agents Rightmove show that London house prices rose at their slowest rate in five months, with the cost of a home falling in more than half of the United Kingdom's capital's boroughs.

While other regions across the country saw the average house price rise by 0.8 per cent in June, property prices in London rose by 0.7 per cent in comparison - half the rate that had been seen in May, prompting experts to predict a drop in property prices over the next few months.

A nationwide property boom, led by demand from rich foreigners and bankers in the city might be reaching its peak as interest rates reach a six-year high deter homebuyers with record debts. With another interest rate increase looming, it is widely expected by property analysts that another increase may crimp price growth.

The slowdown saw the cost of a home fall in seventeen of London's thirty-two boroughs, with Southwark, an area south of London's financial district showing the largest level of decline with prices falling 2.8 per cent. Hounslow, close to Heathrow Airport showed the next biggest decline with a 2.4 per cent drop.

However, property prices within London's upmarket boroughs continued to increase, with property in Kensington and Chelsea, areas popular with bankers, footballers and Hollywood celebrities recording gains of 3.4 per cent on the month and a staggering 73 per cent compared to the previous year with an average price of £1.4 million. Furthermore, the average time a property remained on the market rose to 69 days from 65 days in May. The average asking price in London is still 23 per cent higher than a year ago, with the prices rising from £315,224 to £387,898.

Property prices across the U.K roise by 13.2 percent in June to an average cost of £239,317, climbing in seven out of ten regions. The West Midlands showed the greatest level of gain with a 5.8 per cent increase, while East Anglia, the North-West and Yorkshire and Humberside all recorded negative growth. The increase in property values has highlighted the growing divide between homeowners and those not on the property ladder, with more than four4 million people expecting never to be able to own their own home.

If you’re considering constructing a new home, consider going green.

A lot of green construction initiatives are out there, which advocate building everything from pre- measured, pre-fabricated parts.

The savings for this are two fold – the first savings is in ease of construction. By building everything from pre-measured parts, you save on labor and assembly. You also save on garbage hauling fees.

The second place where you save is avoiding building waste in your local landfill. Most homes are constructed by bringing raw lumber on site and cutting it to fit over the course of construction.

The same (to a lesser extent) is done with flooring, drywall and siding.

Good green construction techniques use the mantra of "measure twice, cut once" to its logical extreme, and can eliminate construction waste (and the attendant fees) by as much as 80%.

Green construction also ties into how the house is designed as a home and living space, and how it uses energy.

A house can be precisely placed to maximize thermal warming in the winter, and shade placement in the summer.

Similarly, green construction helps with energy bills.

By building the houses out of precisely measured prefabricated components, the insulation effects can be greatly improved – most homes, when it comes to insulation, have the equivalent of two full sized doors open in terms of air flow.

Green construction, done right, solves this problem, and a well insulated home is less expensive to heat in the winter, and cool in the summer.

Proper heating and cooling design/installation methods are a major contributor to good green construction practices.

A more recent trend in green construction is photovoltaic cells as an integral component of construction, rather than as an unsightly add on to the home.

These can reduce utility bills (through net-metering) or provide cash flow to the home owner through an offset-tariff, and will, over the course of 20 years or more, pay off the cost of their investment.

Ultimately, doing a green home means doing a completely green home – you can’t do it part way. It doesn’t mean you have to "give up" the life style – but it does mean an initial investment in planning and a commitment to hold on to the home for a while to recoup your investment.

Georgetown is a growing city that has the real estate to fit each resident’s needs. Located about twenty minutes from downtown Austin, Georgetown is a small city with developing real estate. Georgetown continues to benefit from the annual population increases in central Texas. This city has become popular for residents looking to avoid crowded town around the city like Pflugerville and Round Rock. Georgetown real estate ranges from apartments to ranch land to master planned communities. All of these home choices are available in and around the Georgetown area.

There are two master planned communities within Georgetown. One is a master planned active adult community that has strict age restrictions on home buyers in their community. This master planned community has private golf courses and fitness centers to make sure their residents are active adults. The other master planned community is a luxurious community with a private championship golf course and world class fitness facilities. Homes range well into the millions and can be as large as 7,000 sq. ft. This is a resort community that offers residents the best amenities to accompany their world class homes.

Town homes around downtown area of Georgetown are very popular. These homes located along Highway 29 and resemble a farm town community where mail men deliver mail to your doorstep each day. Most of the homes in this area were built in the 70’s and 80’s and provide home owners with a historic living situation. Many of these homes are owned or rented by Southwestern University students. Some of these town homes are smaller and college students benefit from the low cost, close to campus locations.

Apartments and condominiums have become popular in this area. The apartments in the area are located around the downtown area of Georgetown. Apartments in this area give residents a chance to live in a small town, and many tenants are college students. There is one condominium complex within Georgetown. This complex overlooks the San Gabriel River and gives residents the chance to enjoy the environment from their back landing.

Area neighborhoods give Georgetown residents the chance to live within communities and enjoy the communal atmosphere that neighborhoods have. There are many neighborhoods in the Georgetown area. All students are given the chance to attend the public school system and Georgetown High. Georgetown residents understand the history of the town, and the history of the people who built the town. This is why Georgetown has been able to keep its small town atmosphere as the city continues to grow.

You have now reached an important point in your hunt for a suitable home. You have organized your finances, and in your preliminary search you have come fairly close to finding a house that meets your needs. You will now be approaching the major step of legal processes of making offers and completing the deal.

Before making an offer, however, you have to satisfy yourself that the house is in good condition and that it has no defects that would be noticed only in a professional home inspection. An inspection will show up any structural or roof concerns, plumbing problems or any other issues that may affect safety or trouble free occupancy.

If you are considering a new house after short listing, chances are that you will be reasonably safe on this point. In a new house there is very little chance of hidden damages. Moreover, the property will be covered by the builder’s warranty.

In case of an old house, however, there is always a possibility of defects or damages in the construction and in equipments such as heating, etc. that even the seller may not be aware of, or he may not have divulged them to you. There are two courses open to you:

• Commission professional home inspections to be carried out so that the condition of the house is known to you before you make an offer. The inspector will look at the structure and type of construction and mechanical systems. Depending upon the extent of the inspection desired by you, the inspector will inspect plumbing, waste disposal, water heating, electrical, heating and ventilation system, foundation, doors, windows, roof, floors and walls. He will also check for potential presence of infestations and pests. In case of repair work being required to be carried out you will know the defect and the estimated expenditure. You may then either not make an offer at all or may use this information to get the estimated cost of repairs taken off the price while making the offer.

• The second alternative is for you to make an offer subject to your approving the results of one or more inspections to be carried out after the seller accepts your offer. After the seller accepts your offer, you may then arrange for home inspections.

In any case, you have reached a point at which you have to discuss the matter with your solicitor and chalk out the next course of action which we shall deal with in the next part.

Cranes, excavators, loaders, and any other large equipment you might find on a construction site are considered construction equipment. While some of you might see construction equipment as hammers, saws, and other smaller items they are in fact construction tools. Are you looking for some construction equipment to help you with your next job? If so you need to know a little bit about the equipment available.

Cranes: You can have many types of canes from the all terrain hydraulic crane, to the boom truck. A boom truck is a piece of construction equipment that has a flat bed with a crane on it rather than a smaller cab for the crane with tracks. This crane system can be used to haul the material as well as move the crane about while hydraulic cranes tend to need a trailer and then roll off to be placed on the ground. These types of cranes tend to rotate 360 degrees.

Excavators: These are consider bobcats, and backhoes of the construction equipment. The size you will need is again dependent upon the job you will have. Most construction companies have a variety for the type of work and land they will have. Bobcats usually work out well when you have a little job, where as backhoes are great for digging larger holes.

Loaders: The are also many types of loaders from a front end loader to a wheel loader. Loaders are often seen used for road construction as well as other construction jobs. These are tractors that have a bucket on the front and use a hydraulic system to raise the bucket and dump the material either in a dump truck or off to the side.