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Archive for January, 2015

Six Answers to Questions about Building a New Home

Friday, January 30th, 2015

Are you thinking about building your own home? You’re bound to have plenty of questions. In this week’s blog, we’ll give you a few answers to some of the more common questions we hear in regard to building your own home.

Six Answers to Questions About Building a New Home

Why should I build my own home?

If you’re still on the fence about building your own home vs. buying an existing home, there are several compelling reasons to build your own. New homes are more efficient, more cost effective, and use the latest building technologies that are making homes today better than they’ve ever been. Even a home that’s just a decade old is already far behind. Building a brand new home means you have the most efficient and innovative design available.

How long does it take to build a home?

This can vary widely. A general estimate is around 6 months. The great thing about Lifetime Series Homes is that our designs are ready to build, which can cut the build time by up to half.

How do I find a home site?

There are lots of ways to look for a home site. The Multiple Listing Service (MLS) is a good place to start, and there are always ads in local newspapers. Lifetime Series Homes offers our lot search assistance tool, which allows you to plug in the criteria you’re looking for in a home site and cross-check it against our database, which contains more than 2,000 homes in the central Maryland area, many of which are not available on public listings.

What are the components of a good home site?

Here’s a list of some of the most important things to consider in a home site:

Location
Access to utilities
Topography
Outdoor living goals
Special clearing and grading considerations
Permitting or public facilities fees

What are my financing options for building a new home?

There are lots of options out there. One option we like to use is construction permanent financing. This financing strategy has a number of benefits, including lower closing costs, smaller interest payments during construction, and the potential for a lower sales price.

How do I find the right home builder in Maryland?

Finding the right home builder in Maryland is both an objective and subjective process. You want a builder that has the right qualifications, such as a long history of business in the area and a reputation for quality worksmanship. You also want a builder who you feel comfortable with and trust on a personal level. The only way to find the right one for you is to talk to plenty of home builders.

Lifetime Series Homes: Your Home Builder in Maryland

Lifetime Series Homes is a home builder in central Maryland that offers fast construction of semi-custom homes. To learn more about building your new home with Lifetime Series homes, contact us today at 410-549-4443! You can also keep up with us on our blog as well as on Facebook, Twitter, Google+, Pinterest and YouTube.

Tags: home builder Maryland
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How Does Construction Permanent Financing Work?

Thursday, January 22nd, 2015

When you’re building your own home, you have a number of financing options available to you. One of these options is construction permanent financing. There are a number of benefits that come with construction perm financing that can work in your favor and help simplify the process of building and financing your new home. Learn how construction permanent financing works and how it can benefit you below.

Construction Permanent Financing

How does it work?

The bank extends a line of credit to the builder known as a construction permanent loan. The loan is structured into 6 draws that are contingent on the home’s construction reaching 6 different phases of completion. For example, once the home is 50% complete, the builder will call for a draw on the loan. A bank inspector visits the property to verify that it is 50% complete and will then issue the funds for the next draw on the loan.

Once the home is complete, the bank retains 10% of the loan until the county issues a use and occupancy permit or equivalent, and the builder provides the bank with any remaining documents. The bank will then issue the last draw to the builder, and the loan is converted from a construction loan to a permanent loan. This can be done using a number of financing products.

What are the benefits for the homeowner?

Construction permanent financing offers a number of benefits to the homeowner.

Closing Costs. With construction perm financing, the homeowner closes on the land before the home is built, as opposed to once the home is built. This means that the transfer tax (which is assessed at closing) is assessed on the value of the lot, instead of the lot and the home. This means the homeowner saves a significant amount on the transfer tax. Not to mention you only have to close once on the property.
Interest on the Draw. During construction, you’ll only pay interest on the current draw, as opposed to the loan as a whole. This can also provide you with a potential tax benefit. (Consult your tax advisor. You have your choice of fixed or variable rate interest during construction as well.
Lower Sales Price. When you use a construction permanent loan, you’ll receive a consumer rate as opposed to a commercial rate. This saves the builder money, a savings which will be passed on to you in the final sales price of your home.

These are a few of the major benefits of construction permanent financing, but they’re not the only ones. To learn more about using construction permanent financing to build your new home in Maryland, contact Lifetime Series Homes today.

Tags: construction permanent financing
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What Are the Benefits of Lot Search Assistance in Maryland?

Friday, January 16th, 2015

The first step in building your own home is to find the right lot. In order to do so, you have to do a complicated calculus involving everything from location, to proximity to work and schools, to access to local utilities. You may find many home sites that have some features you’re looking for but not others. Not to mention the time you’ll have to invest in this process. Finding the right lot is not an overnight process, and will involve a significant amount of searching before you find what you’re looking for.

Lot search assistance is a way to make the search for a home site easier. With this tool at your disposal, you can easily search a large number of home sites in Maryland while the tool cross checks your desires for your lot against available listings. Learn more below about lot search assistance and how it can benefit you.

What Are the Benefits of Lot Search Assistance?

Ease of Use

Search for lots throughout Maryland from the comfort of your home with an easy to use online inventory system.

Increase the Scope of Your Search

The lot search assistance tool brings you access to more than 2,000 home sites in the central Maryland area, many of which are not available on public listings.

Cross Referencing

You plug in the parameters based on what you’re looking for in a home site. The software then checks this against available inventory and gives you an immediate readout of potential matches.

Daily Updates

Inventory is updated daily, so if a new lot becomes available, you’ll be the first to know. An email will be sent directly to your inbox.

Lot Search Assistance from Lifetime Series Homes

Our team members will assist you throughout the process. We want you to find your ideal home site in Maryland, which is why we offer this lot search assistance tool. And once you find the lot, we can help you vet the lot and assist with the purchase. For more information, navigate to our lot search assistance page, or contact us today.

Your New Home Builder in Maryland

To learn more about building your new home with Lifetime Series homes, contact us today at 410-549-4443! You can also keep up with us on our blog as well as on Facebook, Twitter, Google+, Pinterest and YouTube.

Tags: home site Maryland, lot search assistance Maryland
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Finding a New Home Builder in Baltimore County

Friday, January 9th, 2015

Are you searching for a new home builder in Baltimore County? Finding the right builder isn’t easy. Neither is finding the right lot, home design, or financing option. But what if you could find a builder who provided you with all of these and more? Lifetime Series Homes may be the builder you’re looking for. Learn more below about how we can help you with lot acquisition, the design process, and financing for your new home.

Lifetime Series Homes: Your New Home Builder in Baltimore County

Lot Acquisition

Finding the right lot has never been easier with our lot search assistance tool. This tool allows you to specify exactly what you’re looking for in a lot. We then check your inputs against our collection of listings in order to find the perfect lot for you. We have access to more than 2,000 home sites in the central Maryland area, many of which are not available on public listings. Your lot is out there, and lot search assistance can help you find it!

Home Design

Many people want to build their own home without having a firm grasp on what they want the design to be like. And this is perfectly ok. In fact, you don’t have to be a design expert to build your own home. That’s because we offer 14 different home templates that are predesigned and ready to build. From one-story ranchers to 3,000 sq. ft. homes, you’re sure to find a design that suits you. Plus, because these designs are ready to go, we can save a lot of time in the process. You’re already that much closer to the completion of your new home!

Financing that Makes Sense

Financing the construction and purchase of a home can get complicated, which is why we offer construction-permanent financing. This financing option eliminates a lot of the overlap that occurs when construction and the purchase are financed separately, which saves you times and money, and simplifies the process for everyone.

Are you ready to get started? Let us help you find the perfect home site, design, and financing option for your new home!

Your New Home Builder in Baltimore County

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A New Home Builder for a New Year in Montgomery County

Friday, January 2nd, 2015

Happy New Year from Lifetimes Series Homes! If 2015 is the year when you’re going to build your new home, it’s time to start looking for a home builder in Montgomery County. In the spirit of the new year, consider a home builder that takes a new approach to building homes, one that results in faster construction, efficient financing, and an all-around enjoyable experience to building your new home. Read on to learn more about Lifetime Series Homes!

Your New Home Builder in Montgomery County

Building Your Home Faster

Our unique approach to home building means your home gets built faster. We offer 14 different home templates for you to choose from, which means we get to cut out most of the design phase of the project. Instead of having to design a home from the ground up, we can choose from one of these 14 templates to find the home that works just right for you. Adjustments can be made to your liking. By saving time on the design phase, we’re able to progress to building and get started on your home. Now that’s a good use of time!

Finding the Perfect Lot

Another benefit which we provide is assistance in finding the perfect lot for you in Montgomery County. Finding and purchasing a lot on your own can be difficult, which is why we offer our lot search assistance tool. Not only will it help you find the ideal lot, it will give you access to listings which are not available publicly. We have access to more than 2,000 listings in central Maryland, which means we’ll be able to find the right lot for you. Once we’ve found it, we’ll assist with the purchase to make the process smooth and efficient.

Making Financing Make Sense

Don’t want to close once on the construction and again on the home when it’s complete? You don’t have to. With our construction-perm financing option, you only have to close once on the entire project. This saves you time and money, and makes things a lot easier for everyone. There are many more benefits to this financing option, which you can learn more about here.

Your New Home Builder in Montgomery County

Tags: home builder Montgomery County
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