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Custom House Option

2,027 Views | 7 Replies | Last: 2 yr ago by TikkaShooter
Golf1
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AG
Wife and I have been looking at purchasing our first home but everything built in BCS in our price range just seems stupid to buy.

Which is bringing me to use family land in Snook that would be gifted to me. I'm just trying to get an idea of what I'm getting into going on family land with a custom build? I've heard good things using Lafollette and Jeff Jones for builders so would start with going on that route but are there more problems going with a custom build or buying something built already and you know what you're getting into?

Thanks & Gig 'em.
BMo
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LaFollette is good. Know nothing about Jeff Jones. You would be good to consider talking to Borskie as well.
kfry20
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Jeff Jones does a great job. Highly recommend!
Win At Life
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AG
You don't necessarily need to build a true custom designed home, unless you're requirements are just so specific that none of the hundreds of pre-designed homes out there will work for you. If you want to save money, go with one of the build-on-your lot semi-custom builders. They vary in cost and quality like anything, but there will be a floor on costs that will be higher than any tract built home. Also matters if you need a well for water and septic. Lots to consider.
csnole
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Beware of Custom builders contracts - they completely protect the builder.
Diggity
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AG
As opposed to any builder contract?
archangelus2
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AG
You will have a higher deposit requirement building on your own land.

We've had a really great experience with Magruder so far and I've heard the same from everyone I've talked to who has worked with them.
TikkaShooter
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Family land is always a tricky subject when it comes to building a custom forever home. Bc the land has meaning and attachment...are you comfortable with the idea of selling? If not, and its a forever hold bc its family land, then just know you'll never realize the financial gain of your investment. That significant portion of equity that Americans hold in their primary residence will not apply to your net worth if you can't sell bc its family land.

Something to consider.

I always suggest keeping family land and primary residence as two separate things. Unless you have a unique circumstance (independent wealth, etc) and wouldn't need to ever sell your place in order to move, take the equity from a sale, etc.
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