Getting Started

How to Begin | Choosing the Right Builder | Select A Lot

Online Planning Tools:
Create A Budget | What Can I Afford | What's My Payment

Creating A Budget

The first step in any successful new home project is to establish a realistic budget that you and your family can live with. Just as everyone's budget will vary, how you arrive at that budget and how to structure the financing can also be different.

The combinations appear to be endless, but you may find the following Budget Planner helpful. Enter your own budget numbers below. As you begin entering numbers, notice that 0's appear and "Net Construction Mortgage Required" numbers at the bottom of the form will change.
Budget Item
   Sample Project   My Project
Budget for Home (typically 60-65% of project)   $300,000   $
Budget for Land (typically 25-30% of project)   $100,000   $
Budget for Sitework (typically 10-15% of project) + $  50,000 + $
Subtotal of Project Budget   $450,000  
 
LESS Cash down payment planned - $  30,000 - $
LESS Net equity from existing home - $  60,000 - $
Net Construction Mortgage Required = $360,000 = $

Now go to the What's My Payment mortgage calculator to determine how much your financing will cost. The results above will carry over into the calculator for you.