Below are some frequently asked new construction questions that we are asked a lot. If you do not find your answer below, please feel free to contact us here.
Do you charge for consultation services?
Absolutely not! Our consultations are always complimentary. During our meeting we will develop an understanding of your needs and budgetary requirements. We will then complete a site evaluation, preliminary plan and elevation. Once we do this, we will then schedule appointments with all vendors so you can choose flooring, appliances, cabinets, etc. Once we have an understanding of these items we can provide you with a true contract price for the construction of your home.
How much do you charge and are you price competitive?
The old adage of “You get what you pay for” has never been truer than when it applies to your most expensive investment. Heritage Building & Design is particularly focused on cost and value. You will know what the total cost is before you sign a contract to build that is inclusive of landscaping, pool, garages, driveways, etc. This is one area that sets us apart from other builders. No need to worry about “extras”! We don’t believe in them, and you can take comfort in knowing that you will only receive one if you request a change after your contract has been signed. Any builder can give you a random per SF number, but a true custom home builder can give you an exact number before they ask you for a single check.
How do you get paid during construction?
Heritage is paid as construction progresses. At certain intervals of construction, about every 3-5 weeks, we will submit a draw request to you and the lender. The lender will perform a site inspection and fund, upon your authorization, according to progress. If there is no lender, then draw requests are submitted directly to you for payment.
How does a construction loan work?
If you choose to finance construction costs, you will first apply with a lender. If you don’t already have a lender, we can help you get connected with one of our preferred lenders for financing the construction of your home. Our lenders offer a wealth of knowledge and can help our customers through the construction loan process – from understanding how it works to communicating what documents are needed to secure the loan. Your lender should be familiar with the construction loan process to make it as streamlined as possible for you.
To get a construction loan, your lender will need the signed contract, specs and plans in order to begin, and the approval process generally takes 3-5 weeks.
Once your loan has been approved a payment schedule (called draws) is established. This means that while the house is under construction, there are set milestones when we receive payment. The advantage to you is that while your home is under construction, you pay interest only on the amount that is drawn down – not on the full mortgage amount. When the house is complete, you settle on the entire loan, as you would on any other mortgage.
How long does it all take?
Generally we suggest allowing 4 – 6 weeks for design and engineering. It’s always good to take more time for this level of design and investment to make sure it’s just right for your needs. Construction time will depend on the overall scope of the project, but will typically be 6 – 7 months for a 3,000 – 5,000 SF home, and 8 – 12 months for a 6,000 – 10,000 SF home for completion.
Before we begin any project for our clients we will provide you with a specific timeframe so that you can plan your families needs accordingly!
Do you have lots available?
Yes we do. We are always in search of great building lots, and have options for our clients. If we don’t have what your looking for, our team will work with you to find that perfect lot you want to call home.
What about interior design and furnishings?
Absolutely! We offer complete interior design and furnishings services to our valued clients as a compliment to our integrated design/build profile. Our designer will begin working with you during the preliminary stages, cataloging existing furnishings and determining the optimum furniture layout for your new home. We will present fabric and furniture options, as well as window treatment solutions for your consideration. Refinement of selections and timely order processing are managed for you during construction in order to schedule delivery and installation concurrent with construction completion.
Do you have a Realtor Protection Program for realtors with clients?
At Heritage Building & Design we know it takes a team to build a home, and that includes the Realtors we collaborate with. This is why not only do we have a written protection program and pledge of cooperation, but offer additional incentives for the Realtor community! Contact us for specific details and a copy of our “Realtor Rewards Program”.
Can you provide us with a list of references?
With each home we build, the Heritage family grows. We can provide you with a contact list, but better than that for a true reflection of our work we can schedule a visit for you to meet and walk the homes of some of our previous Myrtle Beach clients.