1. Set out your budget.
While this might not sound like a very fun “First Step” it is crucial to determine early in the process. Here are a few key examples of why it is important to determine your budget early in the process:
- You could spend several hours designing a home plan that does not fit your budget. Knowing your budget will guide the process and reduce stress and disappointment. It is possible to fall in love with a home design and then learn that it does not fit your budget. This results in unwanted costs as you may need to redesign your plans to fit your budget.
- Purchasing a lot that exceeds your budget can result in a delay with the construction of your home and can lead to unwanted carrying costs (lot maintenance, property taxes etc.) while you work towards obtaining the funds to build.
- Purchasing a lot before knowing your budget could result in buyer’s remorse. It could be possible that you might have done things differently had you known your budget before selecting the lot to build your home. Buying the lot before knowing your budget could result in foregoing items on your wish list before you even design your plans.
Working with a Mortgage Broker/Specialist that is familiar with the Construction Financing Process is key. We are happy to connect you with a Broker/Specialist that can guide you through the process.
2. Complete your New Home Wish List
What type of building and style of home are you looking to build? We will provide you with a detailed online form with questions and items for you to consider as you work towards designing your new home.
3. Determine Suitable Lot for Budget (we may have options available)
What location and community would you like to call home? Does your preferred location fit your budget? Is there a preferred lot size, shape or site preference? Corner lot? Rectangular lot? Pie Shaped Lot? Greenspace? Once you know what lot size and lot shape you’re working with you will be able to start the design stage.
4. Design Stage
You’ve now determined the budget and have completed the New Home Wish List form. The next stage is to complete your home design. We will connect you with one of our preferred Home Design partners to review your New Home Wish List and discuss your overall vision so we can bring your New Home to Life!
5. Plan Review and Quoting
Once the plans have been completed we complete a review of your plans and ask for any additional information or clarity before we work on pricing. You are then asked to sign off on your plans so we can proceed on to quoting. The quoting process can take approximately 1-2 weeks.
6. Final Plan Sign Off – Construction Agreement
Once construction pricing has been completed we set out a Construction Agreement for your build. Once the Construction Agreement is signed by all parties it is sent over to your Mortgage Broker/Specialist or Lender for your final Financing Approval.
7. Submit Plans for Permits
Once the Financing Condition has been satisfied we work on submitting your plans for development and building permits. This process can take 3-5 weeks depending on how quickly the municipality can review the application and issue the necessary permits.
8. Selections
While we work on obtaining permits you can begin the selections process. You will be provided with a list of our suppliers and corresponding Sales Reps. Our Sales Rep Partners will be armed with necessary information (home plans and builder specifications) prior to your arrival. The order of completion for selections are set out to assist you in finalizing the interior design and colours. Selections will have a timeline for completion so we can complete the construction of your home.
9. Construction
Your home is now under construction and trades will be on and off site as we work on building your new home. It is important for your safety and the safety of our trades that any and all site visits are booked and completed with a representative from Vida Custom Homes. We will have planned site visits at various stages of construction for you to see the progress and finalize items on site with trade partners. Approximately 2 weeks prior to completion of the home we will complete a pre-occupancy walk through with you to review and address deficiencies that need to be completed prior to you taking possession of the home.
10. The Keys are yours!
On possession day we complete our final occupancy walk through and celebrate our journey and goal to bring Life to your New Home! At this point, we provide you with the necessary warranty information and procedures.