Building a Home: Turning Your Plans Into a Home

Building a home gives you something buying an existing home often can't: the opportunity to create a home around the way you want to live. But construction financing and budgeting require some additional planning.

The Advantages of Building

You can choose the location, floor plan, finishes and features that matter to you. A new home may also offer greater energy efficiency, newer building standards, lower initial maintenance costs and fewer immediate repairs.

Financing the Construction

A One-Time-Close Construction Loan can finance the construction and permanent mortgage in a single transaction. Instead of obtaining one loan to build and another when construction is complete, you close once and the loan transitions into permanent financing.

Budget Beyond the House

The builder's price may not represent the entire cost of the project. Land, site preparation, permits, utility connections, impact fees, surveys, plans, upgrades, landscaping, driveways and other expenses may need to be considered.

Expect a Different Process

Construction loans involve more than approving the borrower. The builder, plans, specifications, construction budget and project timeline may also require approval. Funds are typically released to the builder in stages as construction progresses.

Plan for the Unexpected

Changes, upgrades and construction delays can happen. Having adequate reserves and building some flexibility into your budget can make the experience much easier.

The Advocate Difference

Building a home is both a construction project and a financing strategy. I'll help you understand the numbers, anticipate expenses and structure the financing before construction begins, so there are fewer surprises along the way.

Want to Dig a Little Deeper?

I've put together a free Building a Home Guide to help you think through the total project cost, how construction draws work, and the questions worth asking your builder and your lender before you break ground. It's not a sales brochure — just practical information to help you understand your options and make a more confident decision.

Have a question after reading it? I'm always happy to talk it through with you.