Jonathan Hillert’s Tips for Building a Custom Home (Part 2 of 2)

Our first two tips from Mr. Hillert covered liquidity and where to build a custom home. Below, we finish our coverage of his advice.

3. Spend lots of time with your architect. An extra $5,000 spent on designing every detail of your home, from the hinges to the cabinet knobs, can save a great deal of time and money later on in the process.

4. Be flexible. During the build, you may have to make decisions quickly. Be sure that you and your spouse work out a framework for decision-making ahead of time, so that nobody gets caught by surprise if the construction process takes an unexpected turn.

About Jonathan Hillert:

Mr. Hillert serves as President of L&T Development, a construction company that focuses on custom single-family homes. He handles numerous duties for the business, including coordinating construction, scheduling contractors, and handling permitting. In the past, he has completed custom homes in as little as three months.

Jonathan Hillert’s Tips for Building a Custom Home (Part 1 of 2)

Building a custom home can be extremely satisfying, but only if you go into the process knowing what to expect and what to avoid. We recently caught up with construction executive Jonathan Hillert to get a few tips for people thinking about putting up a custom home:

1. Make sure you have enough cash. Some property owners think that if they own a fully paid off property, it will help them get a loan. That is often untrue. Banks maintain liquidity and reserve requirements for construction loans, and equity does not count toward either.

2. Build in the right neighborhood. If you build an expensive home in a modest neighborhood, you may have trouble getting the price you want for it when it comes time to sell. Conversely, if you plan to build an inexpensive home in a wealthy neighborhood, you may end up overpaying for the property.