Build Your Dream Home

To build or not to build? Consider the variables.

Building a new home or doing major renovations to your existing home can help you get everything you want and avoid paying for features you don’t need. Building usually costs more than buying. How much more depends on a number of variables.  

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One important variable is the age of the existing home you’re considering for purchase. Would an investment in upgrades like a new roof be inevitable during your time in the home? If so, factor that cost into the big picture.

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Features and amenities also factor into the cost of building a new home. The more you add, the more you pay. A newly constructed home generally doesn’t have any natural landscaping around it, so that’s an added expense, and it may take a few years to get that hedge the way you want it.

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On the other hand, a new home boasts new equipment, so upkeep for many major items like an HVAC system or a roof shouldn’t represent expenses anytime soon.

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And what about location, location, location? That mountain view costs money, count on it. Then again, that could be true for a new or existing home.

You get the point: the variables seem endless when considering new construction versus the purchase of an existing home. And every situation is unique.

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Build your dream team.

At Evergreen Home Loans™, our construction loan experts can factor in even the toughest of scenarios and help determine which approach is right for you. Our experts will also help you determine the kind of financing that will get the job done.

Dream on.

Frequently asked questions:

Can you build a home with a VA loan?

Yes, a VA construction loan allows Veterans to build a home on land they currently own or plan to buy. There are various loan-specific requirements that must be met.

Is a construction loan the same as a mortgage?

No, a construction loan only covers the actual construction phase and home build costs. It’s generally a short-term loan. You’ll need to secure a permanent loan once the home is built.

What is an FHA construction loan?

An FHA construction loan combines a short-term construction loan with a long-term permanent mortgage that’s backed by the FHA. It’s a one-time-close loan that provides financing for the lot purchase and building construction process, then automatically converts to one permanent loan.

Build and Remodel FAQs

Learn more about building or remodeling a home.

Read our Build and Remodel FAQs


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