By Brad Franklin

As you begin to conceptualize the master plan of your new home, one of the first things you have to do is figure out how much of a house you can afford to build, including the cost of the land and the landscaping. The Financing Your Home section will help you figure out how much of a mortgage a lender will allow.

The program that you develop will be somewhat of a wish list and reality may force deletions or modifications. This realization will probably occur when you try to zero in on an affordable square footage for your new home.

The size of the home you build is the most important factor in determining the cost. You can determine the average cost per square foot for new homes in your area by calling the local chapter of the National Association of Home Builders. Multiply the square footage of the home that you wish to build by the average cost per square foot to determine a general cost.

If you find yourself staring at a grand total that is far beyond your budget, you’ll have to scale down the design or choose a new one. If it’s close to your budget, you can probably adjust some of the options, extras and finish materials to make sure you stay within budget. Developing a budget and calculating costs will take a bit of time and research, but it is a step that you cannot ignore.

Make a list of your priorities. How many bedrooms and bathrooms do you want? Do you need a family room and living room? Do you want a separate dining room or is a large eat-in-kitchen area more practical for your lifestyle? Will you need a study or home office or library? How big of a garage will you need? Do you plan on finishing a basement for a playroom?

If budget is a concern, and let’s face it, for most of us it is, there are many ways you can build your house to include expansion possibilities at a later time. Consider building a smaller house and include a patio with a foundation suitable for future expansion or look for a one-story plan that includes expansion space on the second floor, or attic. There are also many finishing elements that can be accomplished later when your budget allows.

About the Author: thehousedesigners.com are independent architects and designers who joined together to provide you the best home plans at the best price.

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By Jon Caldwell

Financing details have to be included in your offer so that the seller can evaluate them. The size of your down payment is part of the financing details that you need to provide; the larger the size of your down payment, the more likely the lender will approve your mortgage. Your offer should also state what kind of mortgage you’ll be getting (fixed rate or adjustable rate). Protecting yourself is another reason why you should include your financing information in your offer. Should the interest rate suddenly rise quickly, you might be paying a higher mortgage than you expected. Placing a maximum acceptable interest rate in your offer protects yourself from that instance.

It is easy to imagine the home of your dream but finding one is a different topic. Being meticulous could help in the process of locating your dream home if you’re really determined in living in a haven. In choosing a house, you have to be particular also of the benefits the place can give you. It would also be much better and enjoyable if you happen to share the dream home of your partner. In this way finding the right home would be in harmony thus making it easier. It would also be beneficial if you widen your search. You can ask around all you want. Be specific with details, it could be your permanent place so you might as well be thorough about it. It could not be an easy task but remember, it would be all worth it in the end.

Regardless of where you’re located in the US – even if it’s in a desert, by a river, or in the Midwestern plains – your home is at risk for flooding. Floods can happen to anybody at any place because of rising river water, flash floods, or rapid snow melt. Even if you think that a flood in your area is highly unlikely, you should consider getting a flood insurance policy. It’s fairly inexpensive, particularly in high-risk flood areas since the policy will be backed up by a federally insured mortgage. If your community is a participant, you can get flood insurance from an agent via the National Flood Insurance Program. Remember that flood insurance is easily transferable; you can assign your existing flood insurance policy to a buyer.

Taxes eat up a considerable amount of your income, but did you know that real estate gives you excellent tax breaks? Investing in real estate has many tax advantages over receiving a monthly wage. On Capital Gains Rates you already save a lot; on capital gains you only get taxed 15%, as opposed to the 35% for wage income. If you sell your residence, you also get an exemption if you’ve been living there for the last five years. You also get to deduct the interest you need to pay on debts you got from acquiring your real estate properties. You even get tax deductions for the wear and tear of your rental properties, even if the property’s value appreciates! There are so many tax advantages to investing in real estate. As long as you plan your income wisely, you’ll be able to save a lot.

Most real estate listings are informative but boring, and it’s the boring factor that keeps the house from selling. This happens because most people let their real estate broker do the listing, which only communicates with other brokers but not prospective buyers.

Take charge of your listing instead so it can grab attention. You can do this by making sure you have great pictures – and even if you don’t have great pictures to begin with, you can always use Photoshop to bring out the property’s excellent features. If your lawn is dead, use the paintbrush to color it green. If it’s a cloudy day, wait for blue skies before photographing your house. When a buyer scans the listing with the agent, you only have two seconds to grab his or her attention. Making a lasting impression is a must if you want to invite a viewing.

About the Author: Jon Caldwell is a professional content manager. Much of his articles can be found at realestatedailyblog.com

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