Category: New Home Construction

Owning a home is a dream for almost everyone. But owning your dream home? That’s a whole other level of fantasy. The good news is that with the right strategies, that dream can become a reality. Custom homes, designed exactly to your liking, are a key part of making that happen. And when it comes to building and securing your custom home, financing is a big piece of the puzzle.

Sure, home prices are on the rise, with new homes in McAllen going for $223,992 and in Mission at $211,296 as of April 2024. But don’t let that discourage you. Buying the custom home you’ve always wanted is totally doable with the right financing options.

Here are some tips and strategies to help you with custom home financing with as little stress as possible.

Mortgage Options

Understanding your mortgage options is essential to figuring out the best way to finance your custom home. There are several types of mortgages available, each with its own set of criteria and benefits.

One common type is the conventional loan, which doesn’t come with federal government insurance but offers a fixed interest rate over 30 years. Buyers are typically expected to make a down payment of at least 20%, making this option ideal for those with good credit scores.

For buyers with lower credit scores or those looking for a smaller down payment, FHA loans backed by the Federal Housing Administration can be a good choice.

There are also other types of mortgages to consider, such as adjustable-rate mortgages, VA loans for veterans, balloon mortgages, jumbo mortgages, and USDA loans. Each has its own requirements and benefits, so it’s essential to explore your options carefully to find the right fit for your custom home financing needs.

Budgeting Wisely

Budgeting is all about allocating your money wisely to meet your needs. The smarter your budgeting decisions, the more you can save on building your custom home.

There are various costs associated with buying and owning a home, including building costs, interior design, appliances, monthly mortgage payments, taxes, utilities, and maintenance. Understanding these costs and planning for them in advance is crucial for managing your budget effectively.

It’s also important to plan your personal finances well and budget accordingly. The 50/30/20 rule is a good starting point, where 50% of your income goes to needs, 30% to wants, and 20% to savings. Additionally, you should calculate the total cost of buying the house, including escrow charges, real estate commissions, lender’s fees, and appraisal costs, to get a complete picture of your expenses.

There are also other costs associated with buying a house like Homeowners’ Association (HOA) costs. HOA costs cover pest control, landscaping, trash removal, pool maintenance, and many other similar costs.

Improving Credit Profiles

When it comes to buying your custom home, your credit profile and score will determine the type of loan or mortgage you can secure. The conventional home loan stands out as a top choice for homebuyers, as it typically results in lower long-term mortgage fees and costs.

While a substantial down payment is often required for this type of mortgage, it pays off in the long run, as you’ll only owe 80% or less of your mortgage amount. However, there are also loans available that don’t mandate a 20% down payment.

Maintaining up-to-date credit profiles and a solid credit score makes it easier to obtain loans for building your dream home. Not to forget, consistent mortgage payments not only improve your credit score but also increase your eligibility for future loans and mortgages.

You can maintain a good credit score by avoiding piling up credit card debt, prioritizing payment of large debts, living within your means, and cutting costs when interest rates spike. Additionally, if there are discounts for early payments, consider taking advantage of them to boost your financial standing further.

Selecting Lenders

Selecting the right lender for your mortgage is a key step in ensuring a smooth payment process. There are various types of lenders who offer funds for building custom homes, each with its own unique approach. Here’s a breakdown of the main categories:

• Direct Lenders: These are institutions like banks, mortgage banks, or credit unions that lend money directly to borrowers.
• Mortgage Brokers: They act as intermediaries and, connect borrowers with lenders and offer a variety of loan options.
• Correspondent Lenders: These lenders fund loans and then sell them to larger financial institutions, such as banks.
• Wholesale Lenders: Wholesale lenders do not directly lend to borrowers. They work exclusively with mortgage brokers,
• Hard Money Lenders: Hard money lenders provide short-term loans, often for real estate investments, and typically charge higher interest rates and fees.
• Portfolio Lenders: Portfolio lenders fund using their own money and keep them in their investment portfolio.

To find the right lender for you, start by budgeting your needs, improving your credit score, and researching different mortgage lenders. Once you’ve determined the type of mortgage and lender that suits your needs, compare rates, costs, and fees to make an informed decision.

Leveraging Down Payment Assistance

While conventional loans typically require a 20% down payment, this isn’t a fixed requirement. There are many mortgages available with down payments as low as 3%, making homeownership more accessible for buyers who can manage this amount.

Down payment assistance can be a real game-changer if you’re struggling to come up with a large lump sum. When you use these programs to buy a home, you can lower your overall costs significantly. Some programs even offer discounts if you repay the assistance within a certain timeframe, further reducing what you need to pay.

You can leverage down payment assistance to minimize your initial expenses when buying homes for sale in Mission, Tx. This can make the journey to homeownership more manageable and affordable.

Buy New Homes in McAllen Tx and Mission Tx

Buying your dream home becomes easier when you finance efficiently and implement these strategies. And if you’re looking to purchase a custom house in Mission, TX, optimizing your custom home financing strategies will make the process much smoother.

To know more about custom home financing strategies and to secure your dream home in Mission, Tx, contact us today.

The Rio Grande Valley offers a winning combination of warm weather, cultural diversity, affordability, economic prosperity, and natural beauty, making it a desirable destination for individuals and families looking for a high quality of life.

So, if you’re looking to call RGV your permanent home, there shouldn’t be any brownie points for guessing why.

However, building a home requires meticulous planning. And that planning involves selecting a location. As Louis Glickman, America’s real estate mogul, once said, “The three most important factors in real estate are location, location, and location.”

If you’re looking forward to building a custom home in RGV and are unsure about the location, this article is for you. Here, we will list 5 neighborhoods that are perfect for constructing an RGV custom home.

What to Look for in a Neighborhood?

Each neighborhood in RGV is different. There’s a lot of variety and diversity. Thus, before you finalize a location, you need to know what to look for in a neighborhood. This is highly subjective and depends on personal preference.

But to help you decide, here are the things to take into consideration:

1.    Lifestyle preference

Do you crave the convenience of city life with shops, restaurants, and entertainment nearby, or the peace and quiet of a rural setting? The lifestyle you want should decide where your new custom home should be.

If you have growing children, it’s better to be near entertainment zones and family-friendly neighborhoods. Retirees can opt for locations outside the busier part of the city.

When making the decision, also consider your commute to work, errands, and social activities.

2.    Cost

The quality of lifestyle is directly proportional to cost. Therefore, you need to balance your lifestyle considerations with cost considerations.

Prior to constructing your custom home, figure out your total budget and buffer amount. Then, research the cost of home construction in different locations to reach the neighborhood that’s just about right in terms of lifestyle and price.

3.    Plots and regulations

You may find the right neighborhood, but that doesn’t mean you’ll find the desired plot for home construction. Therefore, you need to inspect the plots.

Evaluate the size and shape of the lot. Is it suitable for your desired home design and outdoor space needs? Look at the slope of the land – flat land is easier and cheaper to build on. Consider existing trees and their potential impact on construction and sunlight.

Research zoning regulations to ensure your dream home adheres to building codes and setbacks. Are there limitations on house size, architectural styles, or pool installations?

4.    Market value

Lastly, it’s worth looking at the market trend of the neighborhood you’re investing in, especially if you’re looking to sell the custom home somewhere down the line. You’d want to ensure that the value will appreciate in the future and not depreciate. This gives you a chance to sell the property for a higher price and potentially fund your next dream project.

These four aspects should lead you to your desired neighborhood for custom home construction in RGV.

5 Best Subdivisions for Custom Homes in RGV

The Rio Grande Valley is a large area that encompasses several prominent cities like McAllen and Edinburg. Thus, it’s nearly impossible to prospect every community that exists in this section of Texas. Instead, we’ll recommend the top 5 subdivisions that offer an ideal mix of affordability and amenities.

1.    Eldorado, McAllen

Eldorado is located in one of the most peaceful and sought-after neighborhoods of RGV: Thousand Oaks. It is known for its cleanliness, strong sense of community, and high availability of amenities. In terms of cost, the plots are moderately priced.

New homes in McAllen are arguably the best choice in RGV for families. McAllen offers a relatively low cost of living compared to the national average. Housing, groceries, and transportation tend to be cheaper. Moreover, the city boasts a lower crime rate than the national average, making it a safe place to live.

The Thousand Oaks neighborhood in north McAllen is ideally located and offers easy access to the rest of the city.

2.    Magnolia Park, Mission

Magnolia Park is a gated community that offers spacious homes designed just for you. If you are looking for the peace and quiet of suburban life while still being close to great schools, tasty eateries, and fun activities, Magnolia Park is an excellent option.

Getting around town is a breeze with easy access to major roads. As you’ll be living in Mission, you’ll have the option to lead a diverse life. The city is a few miles away from McAllen, another city ideal for families.

So, if you have friends or families in McAllen, you can make a trip to stay closer to one another.

3.    Encino Ridge, Pharr

Some families opt to live outside of McAllen in search of more affordable living options. Pharr is an excellent choice. It’s neither too far away from McAllen nor closer to inflating prices.

The Encino Ridge community is strategically developed in Pharr to enable easier access to the rest of the city and region. It brings the trademark quality and affordability of Villanueva Homes and is ideal for custom home construction. The available plots are spacious enough to accommodate different designs and layouts.

Pharr enjoys a reputation for being a safe place to live. Crime rates are lower than the national average, making it a secure environment to raise a family. The Pharr-San Juan-Alamo Independent School District serves the city and generally receives positive marks. There are also several private school options available.

4.    Pearl Estates, Edinburg

17 miles away from McAllen is Edinburg. It is another popular neighborhood in RGV that caters to families looking for affordable custom homes.

Pearl Estates is designed for such families without compromising on livability. Spacious, elegant, and clean; you can expect plots to possess all three desired qualities. Most of the amenities, including public parks, are within walking distance. And the crime rates are lower than the national average, making it safer to live.

Edinburg is home to the University of Texas Rio Grande Valley, a public research university. Thus, the region attracts students from all over Texas. It’s an opportunity to give your children the best chance to succeed in life and contribute to the world.

5.    The Fairways, Edinburg

The fifth best subdivision we’d recommend for building custom homes in RGV is The Fairways. It is located in one of the most prominent neighborhoods, Monte Cristo, which is home to The Monte Cristo Golf & Country Club. So, if you’re into golf, you shouldn’t be looking further than the Fairways.

The plots are affordable and designed for single-home families. Ample space accompanies each plot for kids and pets and for customizing your dream home.

Expect all the necessary amenities to be within a few meters. Also, the neighborhood is minutes away from the expressway, offering easy access to the rest of the RGV region. So book your plots today!

Get, Set, Build

Besides the above, there are various other prominent neighborhoods in RGV that are ideal for custom home construction. But these five should give you a head start in your search. Don’t forget to check out our homes for sale in McAllen, TX, for more inspiration on home design and neighborhood selection. For more assistance related to RGV custom homes, contact us today.

Moving to a new subdivision in Mission, Texas, is an exciting prospect and a decision that requires careful consideration. Choosing the right community to call home is not just about finding a house. It’s about finding a place that suits your lifestyle, needs, and aspirations. So, if you’re considering relocating to a new subdivision, you must plan your move well.

There are many amazing subdivisions with beautiful properties in Mission, TX. To choose the perfect place to call your new home, you must take several key aspects into account.

Today, we’ll delve into the seven crucial factors you should consider before moving to a new subdivision in Mission, TX.

Considerations Before Moving to a New Subdivision in Mission, TX

1.    Location and Accessibility

The first and foremost factor to contemplate is the location of the subdivision. The location of your subdivision will affect many other aspects of your daily lifestyle. Consider your daily commute, accessibility to essential services, and proximity to your workplace. A prime location can make your life more convenient, ensuring you spend less time on the road and enjoy your new home more.

Here are some practical tips to help you evaluate this factor:

• Determine the daily routes you’ll be taking to work, school, or other frequent destinations. Check for traffic patterns, congestion, and estimated peak-hour travel times.
• Ensure that the subdivision is close to grocery stores, medical facilities, and other amenities that are important to you and your family. Access to these services can save you time and make it easy for you to manage daily supplies.
• Research any upcoming infrastructure projects or road improvements that might affect your commute or accessibility in the future. Staying ahead of such changes can be advantageous.

For instance, Eldorado at Thousand Oaks provides convenient access to restaurants, shopping and retail establishments, recreational activities, Edinburg ISD newest schools, and hospitals.

2.    Amenities and Facilities

Before committing to a new subdivision, you must evaluate the amenities and facilities it offers. For example, does it have a community pool, fitness center, parks, or walking trails? Such additional perks will enhance your quality of life and provide you with opportunities for recreation and relaxation.

It’s best to visit the subdivision and check their community center, pool, fitness center, parks, and other shared amenities. Observe their condition, cleanliness, and whether they align with your interests and needs.

You should also inquire about the community’s event calendar. Are there regular social gatherings, sports leagues, or fitness classes? Living in a subdivision with frequent social events will significantly boost your social and mental health. Apart from amenities and events, also explore the walking trails and parks in the area. Well-maintained green spaces can be an inviting feature, perfect for peaceful relaxation.

3.    Schools and Education

If you have children or plan to start a family, then the quality of schools in the area is another factor you must consider. A neighborhood with excellent schools can greatly benefit your children’s education and development.

Start researching school ratings, test scores, and reviews for nearby institutions. This data can help you assess the academic quality and educational opportunities for your children.

Inquire about the availability of extracurricular activities, clubs, and sports programs at the local schools. A diverse range of options can foster your child’s growth and interests. Determine the distance between your prospective home and the schools your children would attend.

Shorter commutes can reduce stress and allow for more family time. And, of course, look into the fee structure of the best schools in the area so you can financially plan for your children’s education.

4.    Safety and Security

The safety and security of your new neighborhood should be a top priority. Ensuring the safety of your surroundings will give you immense peace of mind. First of all, you can investigate the crime rates in the area.

Online crime maps and local police reports can provide insights into the safety of the neighborhood. Then, you can also connect with people living in and around the subdivision and inquire about general safety in the area.

Check the security measures of your subdivision thoroughly. Does it have street lighting, security patrols, or a neighborhood watch program? These elements should be standard practices in most reputed subdivisions.

For additional insights, you can attend community meetings or neighborhood events to understand the community’s vigilance and awareness of safety concerns.

5.    Real Estate Market and Resale Potential

Your home is a significant investment, and the property values within the subdivision can directly impact your financial future. You should examine the property values in the subdivision and research the historical trends in the area. Have the rates been consistently increasing over the years? A stable or appreciating market is generally a good sign and indicates high resale potential in the future.

Further, you should consult local real estate experts or online resources to understand the current state of the local market. Consider the potential for home improvement and renovations in the subdivision. A neighborhood that encourages property upgrades can positively influence resale potential.

6.    Community and Neighbors

A sense of belonging and community is essential for a fulfilling life. Attend local events and gatherings to interact with current residents. This lets you know your potential neighbors and the community culture. Spend time in the area during different times of the day and week. Spending some time in the area will allow you to observe the neighborhood’s dynamics and noise levels, giving you a better sense of what to expect. You can also join local online forums or social media groups to engage with residents, ask questions, gain insights, and connect with future neighbors.

7.    Future Development and Planning

Lastly, take a look at the future development plans for the subdivision. Is new infrastructure, commercial centers, or public services possibly coming to the area? This can affect your property value and lifestyle in the long run.

Research municipal plans and zoning regulations for the area to gain more insights into future developments and any improvement plans. Inquire about any upcoming infrastructure projects in the region. New roads, public transportation, or recreational facilities can enhance your living experience. If available, review the subdivision’s master plan. This document outlines the long-term vision for the community, including any proposed changes or expansions.

With these considerations in mind, you can make an informed decision to find the perfect subdivision in Mission, TX subdivision, that will become the ideal place to call home.

That said, if you need help choosing the right subdivision in Mission, TX, we are happy to help. Contact us today to learn more.

The journey to the Sharyland home of your dreams isn’t one you should take alone. But not any partner will do. When you hire a custom home builder to help you bring your desired home to life, you need to do so with the confidence that they have the experience, skill and creativity necessary to do the job well. To help you find the perfect custom home builder in Sharyland, TX, we have put together this list of tips. 

Think through your budget and needs first

Home builders in Sharyland tend to specialize in certain areas. For example, some only build high-end luxury homes while others work within smaller budgets. Some only build in certain subdivisions while others build on any lot. Some have more experience with certain styles than do others. 

Before you start your search for the right building partner, you should have a clear idea of your own budget and design preferences. That way, you can make sure that the builder you select will fit within both. Here are some questions to consider to help you prepare: 

• How much financing do you have available? 
• How much in savings and other sources do you want to spend on your home? 
• What are must-have design features for your home? 
• Do you want to build in a particular style? 
• Do you want to build in a specific Sharyland subdivision? 

In order to get answers to this question, you may need to consult with a lender, research housing styles and design options, and take time to think through exactly what you hope your home will look like. 

Start looking early

Once you have an idea of what your budget and style looks like, you will want to begin your home builders search in the Sharyland area. Try not to wait too long to start this process. You want to give yourself plenty of time to research your options, talk with different companies and choose the perfect builder for your Sharyland residence. Time and attention will be your greatest friends in helping you identify the right company for your project. 

Ask your community for references

Word of mouth references from people who have gone through the same process as you are invaluable. While you can (and should) create a long list of possibilities from online research (excluding any companies with generally negative reviews), you should also ask around your community for references as well. 

This community could include family, friends, neighbors and individuals living in the same Sharyland area where you wish to build. It should also include experts like lenders and real estate agents- Who do they love and recommend and who do they think you should avoid? Use these conversations both to narrow down your list of candidates and to develop a list of businesses you definitely should avoid. 

Look for a builder with the right specialty

As mentioned earlier, Sharyland home builders often have certain specialties regarding where and what they build. Try to determine what these specialties are and narrow your list down to those who have experience creating the type of home you want for yourself. 

For example, do you have the budget and the tastes for a high-end luxury residence? Choose a builder who knows how to bring that kind of space to life. Are you hoping for a beautiful outdoor living area? Choose someone who makes it a habit to craft pools and patios and outdoor kitchens alongside stunning interiors. 

Seek Sharyland home builders with experience

Everyone has to start somewhere, but you probably don’t want a builder to start their career with your dream home. As you narrow down your list of potential builders, consider how long they have been creating residences for their clients. In general, the more experience they have, the better. The more homes they have built, the more skill they have developed, the more problems they have encountered (And overcome) and the greater quality they can bring to your build. 

Only consider licensed and insured candidates

You should require any builder you hire to be completely insured and licensed in the event of a mishap. This will save potential problems for you and for them in case their is an accident, loss or other problem during construction. 

Check candidates’ portfolios and references

Once you narrow down your list to a few home builders in Sharyland, it is time to dig a little deeper. You can get more of a first hand look at the kind of work each builder completes by looking at their portfolio of completed projects and by talking to some of their clients. 

When looking at their portfolios, ask yourself these questions: 

• Do their homes reflect the style you want? 
• What is the quality of the work they do? 
• What home features do they specialize in? 
• Where have they done most of their building? 

When talking to past and current clients, here are some questions to ask: 

• Did you enjoy working with this builder? 
• Did they meet their deadlines? 
• Was the cost of the project in line with the estimate? 
• Was communication clear and responsive? 
• Were any problems or delays clearly explained to you and resolved promptly?
• Was the project organized?
• What were their strengths?
• What were their weaknesses? 
• Would you choose this builder again? 

Visit a building site

Visiting a construction site, if allowed by the builders you are considering, can help you get an up-close look at the company’s process and skills. When visiting the site, ask yourself these questions: 

• Is the site clean and organized?
• Are there any obvious safety issues? 
• Are they using quality brands? 
• Is their work careful and high-quality? 

Meet with the builder face-to-face

One of the best ways to determine if a custom home builder will be a good fit for your project is to meet them in person. This time together is a good opportunity to see if your personalities mesh and to get a feeling for how your interactions will go once the project begins. Make sure to bring a list of all your questions. Some areas you may want to address in your meeting are the following: 

• Experience
• Style and design process
• Estimating and financing process
• Obstacles and delays
• Timeline
• Contact during project
• Use of subcontractors
• Materials used
• Warranties

Once you have gleaned information on a number of builders, you can make your decision. If you choose the right builder, you will be in a position to enjoy a seamless, enjoyable and even FUN custom home building experience. 

At Villa Homes, we focus on delivering quality and value, luxury and designs that fit your style. As leading home builders in Sharyland, let us walk with you through every step of the home building process so you end up with both our award-winning expertise and the home of your dreams.

Whether you decide to build a new home from scratch or renovate your existing space, it goes without saying that it is an investment of a lifetime. For your home to turn out exactly as you imagined it, it is imperative that all the teams involved work with the utmost coordination.

However, in real-life scenarios, this coordination is likely to fail more frequently than anticipated. This is where a home builder comes into the scene. A home builder’s job is to function as a bridge between the homeowner and various subcontractors throughout the process to make it hassle-free.

Where Can You Find Home Builders?

There are a few different ways to find a home builder for your requirements. The most common practice is to find builders through local lenders of the respective area. Although local lenders are meant for your mortgage and loan purposes for the construction/ reconstruction of your home, local lenders can also provide genuine contacts for home builders due to their vast and reliable networking in this field.

It is recommended to consult with your local lender about the best home builders in the area. When looking in RGV lenders, Willowbend Mortgage, Bank of South Texas and Gold Financial are among the acclaimed local lenders who can guide you towards the best builder for your project. Many with home building dreams, such as you, have enumerated their positive experiences finding a home builder through the local lender’s network.

Similarly, area-specific realtors can also provide you with home builder contacts in your locality of interest, fit for your needs. There is also the National Association of Home Builders (NAHB), where you can navigate to the local chapter for the area you aim to build your new home and find a complete list of qualified home builders who are members of the NAHB. Finally, ‘self-help is the best help,’ which may often be true while looking for a home builder. You can take to the internet and search for the perfect home builder per your customized requirements.

When Is the Right Time to Start Looking for a Home Builder?

The timing of hiring your home builder is very crucial. Experts recommend involving your home builder from a very early stage of the project, from conceiving the design to reducing the workload on the homeowners and ensuring efficient functioning of the entire project.

How Would Having the Home Builder Make a Difference?

Once onboard, the home builder then involves, manages, and coordinates the subcontractors and oversees the design and building code execution. Moreover, the builder also coordinates with the building inspectors and governing jurisdictions. The financial details that can become too cumbersome, such as preparing estimates of building costs, keeping track of expenses, as well as submitting payment requests to the banks, would also be professionally managed by the home builder.

Inspection of building materials also falls under a load of responsibilities of the home builder. Therefore, the service provided by a home builder is like a ‘one-stop solution’ to all the minute details that need to be thoroughly managed during home building.

Tips for Finding a Quality Home Builder for You

Given the magnitude of responsibilities that come under a home builder’s watch, it becomes essential to have the right home builder on your team.

Here are the qualities that make a reliable home builder, one that can ensure the perfect operation of your home construction-

• Specialization in home projects: the builder must understand how a home building process works as it is fairly different and more detailed than home constructions with custom needs.
• Track record: must possess a fair track record of building homes.
• Authentic network: the subcontractors linked to the builder should have a genuine reputation in providing their respective services.

Things To Watch Out for While Finding a Home Builder

Despite being thorough with your search for a home builder, any of the following situations may arise-

• Lack of a transparent contract with clauses that are not clear to you.
• No insurance is provided with the contract.
• A large sum of money is demanded before the initiation of the work itself.
• Unverifiable references of previous projects (this is a big red flag!).
• No certifications or proof of Insurance for Workers’ Compensation or General Liability.

Such situations must be taken into account, and the dependability of your home builder must be reassessed before moving ahead.

With these tips on finding a home builder, you are now well-equipped to begin your journey in finding the best home builder for your home. Visit your nearest local lender to get started!