If you've never built a new home before, the prospect of building one can seem daunting, and full of so many unknowns. That's why we think it's helpful to remember that it is a definite process. Because we at Regency Homes have been through the process many times over the past 40 years, we know each step intimately. Take a moment to look them over. We think they'll help you see that the big picture isn't so big after all.

Decide what kind of new home you want to buy.
How eager are you? You need to figure out if you want something right away or if you want to take your time and mold it to your specifications. For the former, you'll want to look for a "spec" or "inventory" home. You have the benefits of living in a new home, but the initial design and building processes have already been determined for you. With the latter you have at your disposal infinite freedom in determining every aspect that you want to personalize to fit your lifestyle.

Decide on a builder.
Begin by selecting a builder who specializes in the type of home you want to buy. Make sure they have experience in the area you want to build in, and that they have a history of building quality homes. Important questions you don’t want to forget to ask: When can they begin your project? Do they offer a comprehensive warranty? Are they financially stable? Be sure to check their references and talk to past customers about the level of satisfaction with their homes.


Select a lot.
First things first, you can choose the location of your lot in a community. Additional amenities that accompany a community range from clubhouses and pools to golf courses and fitness centers so educate yourself on the entire community, as well as the proximity of the available lots to these amenities. Usually, lots located close to such amenities maintain a higher re-sale value.


Secure financing.
Figure out a budget. You need to know how much you want to borrow and for how long. Be prepared with your latest income tax returns, statements detailing your assets, your credit history and so on. Your loan will be approved at the finalization of the sales contract with the builder, but you won't assume the mortgage until the house is closed. At this time you may also decide you want to add more options. Instead of making you pay cash, Regency lets you adjust your loan to account for the upgrades.


Select your home and options.
When selecting a home from an inventory of existing plans, you have to make some decisions regarding how many stories you want your home to be, how big your garage will be, the number of bedrooms you want and the amount of storage available. Only after you’ve made your selection can you truly customize your home. You can pick your floor plan and then the design options which include features such as appliances and flooring.


Finalize sales contract.
The sales contract will specify, to varying degrees, the dimensions and features of the proposed home, site plan, materials to be used, and delivery date. Reading and understanding all the documents is a long and drawn out process but you won’t be doing this alone. Knowledgeable sales and construction individuals assist you in this endeavor. Feel free to ask as many questions as you need to.


Break ground.
The time it takes to build your new home varies considerably. It can take anywhere from two months to more than a year. The complexity of the home is a big factor as well as the availability of construction trades and materials, and, alas, the weather.