Getting Started

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

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

Creating A Budget

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

Even though the combinations appear to be endless, 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 (the largest part of the project)   $246,000   $
Budget for Land (typically around 20-25% of project)   $ 72,000   $
Budget for Sitework (typically 10-15% of project) + $  42,000 + $
Subtotal of Project Budget   $360,000  
 
LESS Cash down payment planned - $  30,000 - $
LESS Net equity from existing home - $  50,000 - $
Net Construction Mortgage Required = $280,000 = $

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