Your Initial Consultation with Belmonte Builders
July 3, 2012
You’ve decided to build a new home. What’s next? The next step is more-than-likely the most important one…you must meet with your perspective builder and make certain that the one you choose is the right one! This is when you begin to build a relationship with the team of people who will walk you along the journey of home building!
For those who like it simple, here it is:
- Make appointment with us : Call 518-371-1000
- Determine your living space needs
- Distinguish “wants” versus “needs”
- Know your budget
And now, for the details:
- First things first – make the appointment! Be sure that you allow enough time for us to answer all of your preliminary questions. It is suggested to allow about an hour and a half for this first appointment. It may seem like a long time, but you’d be surprised at how quickly time passes and the questions that you come up with during the initial consultation. Setting up the appointment ensures that you will get the other items done in preparation and ensures that you won’t procrastinate! Our main office number is 518-371-1000
- Next, you should have an idea of how much living space you will need. Knowing the exact square footage is not necessary, but an understanding of how many bedrooms, bathrooms, guest rooms and so forth will help us create a home that fits you and your family’s needs. If you’ve had an opportunity to look through our collections and have found floor plans or elevations that appeal to you, make note of them and bring them to your appointment. It may be helpful to take notes right on the brochure – that way you don’t forget the small details. We do take thorough notes and listen very carefully to your needs at each meeting, but if you bring the notes that capture your thoughts during your initial browsing of floor plans, this is assurance that you won’t forget to bring up all of your questions at this consultation. We build your home 100% custom to your specifications and your needs, so these plans serve as a good starting point to get you thinking about all aspects of a custom home, both inside and out.
- Now, you should start two lists – one is a ‘Wish List’ the other is a ‘Need List’. This helps pare down the things you can’t do without (need) versus the things that you’d like, but can manage with something else (want). Specifically, know the number of bedrooms and bathrooms you need. Have a sense of the number of guests you will periodically host so you can plan for that. Do you want a media room? How about a library? Can you manage your home office and study integrated in the same space? Some home owners can’t go without an outdoor living area. However you need it, you decide. If you put something on your wish list, there is a very good possibility that you can add on in the future. Just be sure to ask us what possibilities are open for future additions and modifications. One great starting point to visit is our online gallery. Our photo gallery is a small collection of photos that we have compiled for your viewing pleasure. It may help to give you some idea of the detail that goes in to creating your unique home. Until you begin this process, you may not know that you choose every detail that goes into your home – it will reflect you and your family’s unique taste and style.
- Finally, and possibly equally as important as any of the aforementioned items, know your budget! By sharing this with us, you will be certain that any recommendations that are given to you will be done so with this in mind. This allows for us to understand the financial boundaries that you have set and to better guide you through the decision-making process in a realistic manner.
The key is to be as well-organized as you can so that you can get the most out of your initial consultation. Don’t worry- if organization is not one of your strongest attributes, we are well prepared to assist you through the entire process! We’ve done this so many times over the years, we’ve made many adjustments and changes and as a result, created a well-oiled machine out of this previously arduous process. You will neither be left alone nor left guessing what you need to do at any step. We are with you at every step of the way. Some tools that we provide you with are: checklists, information sheets, vendor lists and a home owner’s manual so that you will have all of the information you need at your fingertips!
Open communication with the entire Belmonte Builders team ensures that your needs are met, and those needs are reflected in the specifications of your new home. Be patient through the process. At times, it can be stressful, but if you stick to your needs and wants (and understand the difference), you can make decisions much easier. Once you leave this first appointment, you should expect to receive a proposal from us. This will factor all the details you want, the cost of the home and options as well as a rendering of your perspective home. One of the most exciting parts of building a home is the very first time you see it illustrated! The rest is really up to you…once you make your decision, we would be honored to help you build your dream home! Belmonte Builders builds Homes As Individual As You Are. 518-371-1000.
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On November 14th, Belmonte Builders was honored to take home three(3) awards for our Cypress Twin Home at the 2024 Capital Region Builders & Remodelers Association’s (CRBRA) Best in Building Awards night. We were proud that our Cypress model home at 22 Daintree Drive was recognized for: Best New Twin Home or Townhome Best New Merchandised (staged) Model Best Aging in Place Design
Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling , and the job market is slowing down . Mark Zandi, Chief Economist at Moody’s Analytics, said : “They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.” But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller? Why a Federal Funds Rate Cut Matters The Federal Funds Rate is one of the key factors that influences mortgage rates – things like the economy, geopolitical uncertainty, and more also have an impact. When the Fed cuts the Federal Funds Rate, it signals what’s happening in the broader economy, and mortgage rates tend to respond. While a single rate cut might not lead to a dramatic drop in mortgage rates, it could contribute to the gradual decline that’s already happening. As Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), points out : “Once the Fed kicks off a rate-cutting cycle, we do expect that mortgage rates will move somewhat lower.” And any upcoming Federal Funds Rate cut likely won’t be a one-time event. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says : “Generally, the rate-cutting cycle is not one-and-done. Six to eight rounds of rate cuts all through 2025 look likely.” The Projected Impact on Mortgage Rates Here’s what experts in the industry project for mortgage rates through 2025. One contributing factor to this ongoing gradual decline is the anticipated cuts from the Fed. The graph below shows the latest forecasts from F annie Ma e , MBA , NAR , and Wells Fargo (see graph below):
Being a part of the Sandwich Generation comes with its challenges – but it also might come with one truly great perk. If you’re looking to buy a home, your caregiving situation can actually make it a bit easier for you to afford a home. And building a new home makes it easier to personalize the floor plan to fit your unique needs
Retirement is a time for relaxation, adventure, and enjoying the things you love. As you imagine this exciting new chapter in your life, it's important to think about whether your current home still fits your needs. If it's too big, too costly, or just not convenient anymore, downsizing might help you make the most of your retirement years. To find out if a smaller, more manageable home might be the perfect fit for your new lifestyle, ask yourself these questions: Do the original reasons I bought my current house still stand, or have my needs changed since then? Do I really need and want the space I have right now, or could somewhere smaller be a better fit? What are my housing expenses right now, and how much do I want to try to save by downsizing? If you answered yes to any of these, consider the benefits that come with downsizing.
When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction. These two reasons may make you want to reconsider that. 1. Adding Newly Built Homes Could Give You More Options There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built or is under construction. An existing home is one a previous homeowner has already lived in. Right now, the inventory of existing homes is tight. But there may be options for you on the new home side of things. Data from the Census and the National Association of Realtors (NAR) shows that newly built homes are a bigger part of today’s housing inventory than the norm (see graph below):
If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home. When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares : “A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.” That windfall is thanks to your home equity . If you’ve been in your house for a while, odds are you’ve built up a considerable amount of equity. And that equity is something you can use to help you buy a home that better fits your needs today. Daniel Hunt, CFA at Morgan Stanley, explains : “ Home equity can be a significant source of wealth for retirees, often representing a large portion of their net worth . . . . Retirement planning can be complex, but your home equity shouldn't be overlooked.” And when you’re ready to use that equity to fuel your next move, your real estate agent will be your guide through every step of the process . That includes setting the right price for your current house when you sell, finding the home that best fits your evolving needs, and understanding what you can afford at today’s mortgage rate. What This Means for You If you’re thinking about downsizing, ask yourself these questions: Do the original reasons I bought my current house still stand, or have my needs changed since then? Do I really need and want the space I have right now, or could somewhere smaller be a better fit? What are my housing expenses right now, and how much do I want to try to save by downsizing? Then take a look at your current situation. Check to find out how much equity you have in your current home and research the market to find out what's available for you. Don't overlook new construction options. New homes and newer homes are often designed with aging-in-place in mind. Bottom Line Want to save money in retirement? Consider downsizing – it could really help you out. When you’re ready, check out Belmonte's award-winning ranch and primary down floor plans.
Buying your first home is a big, exciting step and a major milestone that has the power to improve your life. As a first-time homebuyer, it's a dream you can make come true, but there are some hurdles you'll need to overcome in today’s housing market – specifically the limited supply of homes for sale and ongoing affordability challenges. So, if you're ready, willing, and able to buy your first home, here are three tips to help you turn your dream into a reality. Save Money with First-Time Homebuyer Programs Paying the initial costs of homeownership, like your down payment and closing costs, can feel a bit daunting. But there are many assistance programs for first-time homebuyers that can help you get a loan with little or no money upfront. According to Bankrate: “. . . you might qualify for a first-time homebuyer loan or assistance. First-time buyer loans typically have more flexible requirements, such as a lower down payment and credit score. Many help buyers with closing costs and the down payment through grants and low-interest loans.” To find out more, talk to your state's housing authority or check out websites like Down Payment Resource . Expand Your Options by Looking at Condos and Townhomes Right now, there aren’t enough homes for sale for everyone who wants to buy one. That’s pushing home prices up and making affordability tight for buyers. One way to deal with that issue and find a home right now is to consider condos and townhomes. Realtor.com explains: “For many newbies, it might just be a matter of making a shift toward something they can better afford—like a condo or townhome. These lower-cost homes have historically been a stepping stone for buyers looking for a less expensive alternative to a single-family home.” One reason why they may be more affordable is because they’re often smaller. But they still give you the chance to get your foot in the door and achieve your goal of owning a home and building equity. And that equity can help fuel your move into a larger home later on if you decide you need something bigger in the future. Hannah Jones, Senior Economic Analyst at Realtor.com, says : “Condos can help prospective homebuyers who perhaps have a smaller budget, but who are really determined to get a foothold in the market and start to accumulate some equity. It can be a really great entry point.” Consider Pooling Your Resources To Buy a Multi-Generational Home Another way to break into the market is by purchasing a home with friends or loved ones. That way you can split the cost of things like the mortgage and bills, to make it easier to afford a home. According to Money.com: “Buying a home with another person has some obvious advantages in the mortgage department. With two incomes in the mix, buyers can likely qualify for a larger mortgage — a big help in today’s high-cost market.” Bottom Line By exploring first-time homebuyer assistance, condos, townhomes, and multi-generational living, it can be easier to find and buy your first home.
Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process. If you want to become a homeowne r this year, it's a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home.
Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why. Near-Record Percentage of New Home Inventory Newly built homes are becoming an increasingly significant part of today’s housing inventory. According to the most recent report from the National Association of Home Builders (NAHB) “Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.” That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way. Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped). And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains : “Even more home building will be needed with the housing shortage persisting in most markets . . . Another 30% rise in home construction can easily be absorbed in the marketplace . . .” How This Helps You Since the supply of existing homes for sale is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search. Just remember, the process of buying from a builder is different from buying from a home seller, so it’s important to do your research and work with a builder with a reputation for exceeding expectations.
