Page 4 - Build New or Buy or Renovate Existing Home
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seriously consider the possibility of expanding your current home through an addition or a full
home remodel. This of course, is assuming that you have the lot size to justify expanding the
footprint and would also like to remain in your immediate area. A major remodeling project may
warrant consideration as a wise financial option, due to the fact that you already have the equity
appreciation in your land and only require the construction cost estimate to complete the analysis.
Provided your existing structure has good bones (foundation and wood structure), and can feasibly
be developed into a home that will meet your needs, the total improvement cost will be 35% - 45%
less than building a new luxury, custom home.

If remodeling your existing home is not an achievable option, then purchasing a lot is the first step
required in beginning the new home construction process. Be prepared for this to take some time.
Finding the perfect building site is often a matter of being in the right place, at the right time.
Identifying the right lot is essential to realizing the construction of your dream home. You should
have an idea of the rough overall size and foot print dimensions of your proposed dream home.
This will insure that your projected home will fit on your new property. For your peace of mind,
once under contract, Marwood always stakes out the client’s concept; drawing homes on the
building site to verify that it will fit and to provide the owner with layout orientation. We can stand
in all of the different future rooms together and observe the views from inside the home.

In the event that you do purchase a lot to build on, carefully review the deed restrictions prior to
closing to verify that there are not any restrictions that would inhibit you from building your ideal
home in that specific neighborhood. Pay special attention to setback requirements and any new
amendments that may not be with the original deed documents. Locate utility easements and take
note of the front and side setbacks of your neighbors. Also note your drainage patterns for the
immediate adjoining lots. If you build your lot grade up or add a pool, review the neighbor’s yard’s
rain runoff drains flowing through your property.

Preparing for Plan Design

This aspect of the process is fundamental on several fronts. First, by developing a photo portfolio,
you cut the design time considerably and often save money, due to the reduced hours your design
team spends conjuring up concept ideas. In addition, this allows your design team more time to
create relevant and useful design concepts that are meaningful to your goals. The second benefit is
that you are organized and prepared to evaluate concept designs. Your readiness conveys to your
team that you are serious and committed to this project, which is important when interviewing and
assembling your Design Team. When interviewing members of your Design Team, they will be
much more interested in working with someone that is organized and has a defined vision for the
design project.      


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