Picture in your mind your dream home. What do you envision? Maybe it’s a palatial mansion on a sprawling estate? Perhaps it’s something more traditional and understated, or a cottage home nestled along the lake. Or maybe you’re looking for something contemporary and modern instead. You could spend months viewing existing homes on the market trying to find something that remotely resembles what you’re looking for. Or you could build your dream home from the ground up. What’s stopping you? Is it the upfront hassle and expense of building a new home?

If you answered yes to that question, we’ve got a few solutions to some of the most common expenses associated with building your own home.

New Construction Doesn't Always Require a Construction Loan

First, the down payment.  Most home builders require a down payment to begin construction.  Not Madison Homebuilders. If you already own your lot, your only upfront out of pocket expense is a $75.00 application fee. We even pay your initial appraisal fee.  Think of the thousands of dollars that can save you upfront when you choose Madison to build your home.

Next, the construction loan.  So what exactly is a construction loan? Just as a mortgage helps you purchase a new home, a construction loan is a short-term loan set up by the homeowner to finance the construction of a new home.  Once you have secured the loan, your lender will draw down on your loan to pay your builder as work is completed. With most construction loans, you pay interest on the amount of money that is drawn out each month. Depending on the length of your build, these interest payments can add up to be quite substantial.  The longer the build time, the more interest expense that comes out of your pocket.  Most home builders will not begin building a new home without you first securing a construction loan.  Not so with Madison Homebuilders.  We build your home with our money so you save not only the time and effort of securing a construction loan, but the interest costs that go along with it.  We even work with lenders to help you secure the mortgage on your new home including paying for the upfront appraisal fee which can range from $400 – $500.

Lastly, the closing costs.   What exactly are closing costs? They are the fees associated with closing your mortgage loan and often include credit checks, loan origination and processing fees, attorney’s fees, home inspections and appraisals, and insurance escrows just to name a few.

Unlike most home builders, Madison even wants to help you cover your standard closing costs up to 2% of the amount you owe Madison.  For example, if the total cost of your Madison home was $200,000, Madison will contribute up to 2% of that amount ($4,000) towards your closing costs.  Since our founding, we have saved our customers close to $3.0 million in closing costs alone. This is something other homebuilders simply can’t boast.

Is that dream home looking like more of a reality now? We certainly hope so. It’s our goal to build you the home of your dreams while simplifying the building process and leaving as much money in your pocket as possible.

It’s important that you take the time to get a detailed estimate from your homebuilder about construction costs. You’ll want to make sure you have a clear picture of what your financial obligations will be. Already have a budget in mind for your new construction? Our mortgage calculator will help you get an idea of what your monthly mortgage payments will be.

How do you get started? First, fill out this form on our website detailing where you intend to build.  Second,  make an appointment to meet with one of our experienced Building Consultants at one of our 4 Sales and Design Center.  Here you learn more about our process, our floorplans, our standard features, and you can check out the selections we offer.

Now it’s time for a little recap-no down payment, no construction loan, and we pay your standard closing costs.  Sounds like a dream come true, right? Let Madison Homebuilders make your dream home come to fruition. We have two decades of experience in the industry and all of our homes carry a 10-year home buyers warranty. Need a little inspiration for your custom floor plan? Request a complimentary plan book here or check out some of our most popular floor plans on our site. You might be calling it your dream home now. But with a little help from Madison Homebuilders, you’ll soon just be calling it home.