Budgeting & Financing

Building a Budget

At Sedgewick Homes, we believe in building your home on paper before we ever begin construction. This allows for a thoughtful planning and design stage with an emphasis on developing your dream home plan and your total budget prior to funding your new home. There are four key areas that impact the overall budget when building your new home.

Building a Budget

The Land

This can include the hard cost of the lot, and this should include careful consideration of the rules governing the land including covenants and restrictions and/or HOA requirements, county or other municipality requirements related to setbacks and building approvals. At Sedgewick Homes, our team of sales consultants can help you review your homesite as you begin to put your budget together.

Land Prep/Site Fees

Preparing the land for building includes a wide variety of considerations, which is unique and specific to each individual lot. These considerations may include fees tied directly to the location of the land, like costs for zoning and building permits. It often includes clearing, grading, prep for city water or sewer connections, or septic and well permits and installations, gravel, and surveys. It’s difficult to predict all the site conditions that will impact the build, so a good strategy is to include some contingency budget for things like soft soils or drilling deeper for a well. Lots that are heavily treed, are steeply sloped or may be impacted by rock can also be significant budget considerations. Our team of sales consultants will help you develop an initial budget for site prep. Once you decide to get started, our production team will help you solidify that initial budget for site prep with a detailed site meeting at your lot.

The Home Plan

This is often, but not always, the largest percentage of the total budget. The lot size, slope, and layout for utilities, setbacks and easements can greatly influence the mix of the best floor plan for the lot and for your goals and budget. Sedgewick Homes offers over 45 home plans to start from with a variety of options and exterior styles for each one. Once you’re on the right plan for you, our team can help you to customize your home plan to be your dream plan!

The Options and Modifications

This often includes fit and finish requests from you! The options and changes to a plan can be a low impact on the total budget or a significant impact depending on your goals. At Sedgewick Homes there are many features included with every home, and so many of those features have a wide array of selections to help you personalize your home. When developing your initial budget, think first of structural options that might include adding a basement or a garage, adding heated space, adding a bonus room or outdoor spaces like covered porches. Next, review our state-of-the-art design studios at each of our locations to experience all the options for flooring, cabinets, lighting and more. At Sedgewick Homes, you will have a dedicated coordinator to help you pull your vision together!

Funding & Financing

Typically, our customers will secure a construction loan that can then become an end loan/mortgage when the home is completed. We can even help you include the lot purchase in your construction loan.
There are several different types of construction loans including one time-close and two-time-close loans. Construction loans can be FHA, VA, Conventional, or Jumbo loans, and can include loans for your primary residence, a second home, or a vacation home.

Sedgewick Homes has preferred lenders that can help you throughout the construction lending process. Our preferred lenders bring detailed knowledge of Sedgewick Homes’ process including the planning and design phase, the construction phase, and the homeownership phase. Sedgewick Homes’ customers also benefit from discounted closing costs with our preferred lenders and a commitment to guide you from the pre-qualification to final closing. Talk to our team to get connected today!

Floor Plans

Locations

Photo Gallery