COMPLETE HOMEPLANNING WORKBOOK Six Simple Steps to Success
COMPLETE HOMEPLANNING WORKBOOK
Six Simple Steps to Success
TABLE OF CONTENTS 1. YOUR FINANCING................................................. 1 2. LAND.................................................................................... 3 3. SITE EVALUATION.................................................. 4 4. DESIGN & FEASIBILITY..................................... 4 5. GATHERING BIDS................................................... 5 6. ORDERING YOUR HOME................................ 5
1. YOUR BUDGET
PRO TIP:
Adair’s Budget Planning Chart is a tool you can use at home to organize your family finances
Look for a lender who can finance the entire project; simplifying your process.
If financing is required, we recommend working with an established professional in order to receive lender approval with the least amount of hassle.
Alliance Financial Services specializes in land and home packages for the Adair Homes customer.
But once you know how much you can spend, what then?
Step 1: Target Date
Your Loan Officer of choice will provide you with a Financial Letter of Approval.
p Financing Approved
With this in hand, it’s time to shop for land!
p Budget Planning
__________________________
p Cash Budget Identified Chart Completed (see next page)
Lender Information Name:______________________ Number: ___________________
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DETERMINING YOUR BUDGET Overview of the pieces and parts that make up your total budget and financing.
LAND
+
+
SITE
HOME
DEVELOPMENT
BUDGET PLANNING CHART
Total Budget
$__________________
Pre-qualified Amount/Cash Budget
Home $__________________
Land $__________________
Site $__________________
Other $__________________
Appraised Value
$__________________
*Budget/80%=Required Appraised Value. Lesser down payment may be available if land is owned free and clear or has sufficient equity.
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2. LAND
PRO TIP:
Do you know where you want to live?
Make an offer on the land you love—earnest money is refundable!
You don’t want just any bare lot! Part of your purchase process will include a bit of research. Each City, County, and State has different land use rules. A professional Real Estate Agent, Title Company, and the jurisdiction in which the land is located, should be able to provide you with specific regulations.
*Ask for a 30 day feasibility period and a 60 day close to make sure you have time complete all of the due diligence. *Visit your jurisdiction to understand more about your unique property before finalizing a purchase.
What are you looking for? Consider what utilities are available in your area: sewer/water/ electricity, and what it means for your build-out. You might also want to consider whether or not the property has building restrictions or requires membership within a Home Owner’s Association. There is a lot to think about— but don’t worry. Adair Homes will be by your side!
Land Budget ________________________ Realtor Information ________________________ Step 2: Target Date ________________________
p Accepted Offer
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3. SITE EVALUATION
4. DESIGN & FEASIBILITY
Now that you have found your dream property, it’s time to walk the lot—and frankly, there’s nothing more fun than staking out that new home!
Ready to play house?
Our Adair Homes construction professionals will meet you at your new property at no cost to you! Their trained eye and years of experience will provide site specific feedback. Our goal is to put the perfect house in the perfect place—and start building a foundation based on your dreams.
Site Evaluation Date:______________________ Time: ______________________
p Site Evaluation Completed
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Work with your Adair Homes Pro Team to make custom floor plan changes, choose colors, and select material packages like cabinets, flooring, and fixtures. Bring all of your ideas—big and small—to our design and feasibility meeting and we will walk you step by step through your home plan.
Design & Feasibility Meeting Date:______________________ Time: ______________________
p Design Options Selected p Redline Plan Completed
5. GATHERING BIDS
6. ORDER YOUR HOME!
Through Adair Homes innovative project management system, you are invited to participate in the homebuilding process. By self managing specific tasks such as graveling a temporary driveway or painting the interior of the home, you’ll be saving money and creating immediate equity.
We can’t wait to give you the keys to your brand new home! Before we start laying the foundation, however, we’ll work with you on design selections, review all of your custom features, and finalize your total project costs together. We want to insure that our partnership results in the house of your dreams.
Don’t know where to start?
After your initial deposit is taken and engineering is ordered, we invite you to download our Homebuilding Process Timeline. This guide will help you navigate the next several months as we work together to build your forever home.
We are happy to provide a list of recommended contractors—and we’ll take a look at the numbers with you when the bids come in.
Step 5: Target Date __________________________
p Project Budget Complete
Home Order Meeting Date:_____________________ Time: _____________________
p Homeorder Written
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Your Dream, Within Reach As the Pacific Northwest’s largest custom homebuilder, Adair Homes has streamlined the construction process to create equity and value for our homeowners. We’ve helped over 20,000 families bring their vision of home to life, and your home could be next.
What happens after you sign your home order? Download our free guide: “Homebuilding Process Timeline” to better understand your next steps! www.adairhomes.com/timeline
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