Builders Keep Asking, What Is Your Budget For Building A New Home?
Custom Home Builders always ask, what is you budget for building a new home? It’s usually one of the first questions Builders ask when meeting. For most Homebuyers the answer is easy, I want to spend as little as possible for the best home I can get! That is a typical answer but it doesn’t help the home buying process.
Builders ask what is your budget so they can present a home package you can afford. The home buying process should start with the Homeowner getting prequalified with a local lender so you know how much you can afford, then setting a budget of how much you are comfortable spending. Homebuyers sometimes have unrealistic expectations or afraid if they tell the Builder how much they want to spend the Homebuyer will end up spending more than they should.
It’s like visiting a car dealer. The Dealer wants to know, should he show you a Mercedes or a Volkswagen? It doesn’t make sense for the car buyer or dealer to spend a lot of time looking at $100,000 cars when all you really want to spend is $30,000 for you family car. Having a realistic budget in mind before you go car shopping only makes good sense.
It’s the same thing when you go shopping for a home. Do your homework before you shop. Get prequalified by a lender and have a realistic idea of what you want to spend. The lender can review your monthly expenses vs. income and set a total home price you can be comfortable with. This will smooth out the home buying process and eliminate frustration.
So, the next time a Custom Home Builder asks, what is your budget for your new home, smart Homebuyers will already know what to say.
Have an awesome day!
Mike
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