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Common Mistakes When Planning to Build a New Home…And How to Avoid Them

Expert insight about what to expect when planning to build a new house so you can avoid the common obstacles or be prepared to deal any surprises. This article reveals 3 common mistakes taken by real-world clients, plus tips on how you can avoid making those mistakes.

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Dirty Secrets About Dirt Work

The Dirty Secrets About Dirt Work

It’s imperative that homeowners know a bit about the process in order to identify common “dirty tricks” and careless shortcuts that disreputable contractors use. Read this article to learn what to watch for while building the foundation of your new home.

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Robert Carroll on the Professional Builders Secrets podcast

Listen to Robert Carroll on the Professional Builders Secrets Podcast

Listen as Robert Carroll, owner of Carroll Construction, joins host Bosco Anthony on the Association of Professional Builders podcast to share his experiences in business.

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Knocking Out the Fear of Punch Lists

Knocking Out the Fear of Punch Lists

We take a “deep dive” into an often overlooked and under-appreciated aspect of construction contracts by explaining the best practices for addressing punch list items.

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The 3 Keys to Designing Beautiful Spaces When Building a Home

The 3 Keys to Designing Beautiful Spaces When Building a Custom Home

This article reveals the three major focus points that are critical to achieving a successful design for planning and constructing a custom home and by showing that every foundational choice requires a balance between affordable, practical and desirable, and how finding the ideal mix is crucial to producing the home of your dreams.

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The Basics of Construction Loans

The Basics About Construction Loans

Learn about the financing terms, structuring payments for the loan, and common types of construction loans…plus the common documents needed to apply for a construction loan.

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Carroll Construction, Building Contractors, Zachary, LA

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IMPORTANT LOAN CONSIDERATIONS

Your budget is the foundation for every other decision you will make while preparing to build a home because it provides context for what is possible. Most people attempt to answer the question of “What is my budget?” by simply deciding how much they would be comfortable spending. Unfortunately, while this is a crucial part of the process, it ignores the rest of the picture. We advise our clients to answer the following questions in the order below. However, if you are self-financing the project, skip to question #3.

1. How much will a financial institution lend me?

This sets what we refer to as your Maximum Loan Amount.

2. What type of loan will I need?

This is where many people get confused because if you ask the wrong questions when interviewing lenders, you’ll get vastly different answers. We recommend reviewing the information in this article on the loan type you will need before meeting with your lending candidates.

3. How much am I willing to spend?

Just because a lender is will to lend up to your Maximum Loan Amount, this does not mean you will be willing to borrow and spend that amount. Consider the monthly payments as a starting point and adjust your Budget amount from there. Your chosen lender can help you with this.

4. What can I reasonably expect to build for what I am willing to spend?

This answer will come from a qualified builder during your preliminary meeting. Be prepared to discuss your budget so that the builder can help you get a better idea of what size home to design to meet your goals.

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7 things You Must Know Before Designing a New Home

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