Archive for the ‘Basement Remodeling’ Category

HOW TO BUILD A CUSTOM HOME, Part 11: How to Finance a New Home Purchase

Thursday, September 2nd, 2010

In this series, the professionals at the B.O.L.D. Company will take you through the process of building a custom home in the Greater Cincinnati – Northern Kentucky area. From plan and lot selection, to mortgage approval, to the actual construction, we’ll take you behind-the-scenes each week for an inside look at a different part of the process.

This week, we review the financing options and the mortgage process for new home purchases. While loans have become more difficult to obtain in recent years, being prepared will greatly increase your chances of getting financing with the terms you want.

*KNOW YOUR CREDIT SCORE Get your credit report – everyone is entitled to one free credit report per year (visit annualcreditreport.com or call (877) 322-8228). Make sure there are no mistakes in your report, and dispute any you find. It can take a month or more for your report to reflect corrections, so don’t wait to fix errors!

*ANALYZE YOUR FINANCIAL SITUATION Determine how much you can afford to spend – and are willing to spend – every month on a mortgage. A general rule of thumb is to expect to spend NO MORE than a third of your gross income on your mortgage payment – and remember, the smaller the percentage of your income that you devote to the mortgage, the easier your finances will be during the tough times (medical bills, lay offs, etc). Don’t forget to determine how much of a downpayment you can afford! Expect to need a downpayment of between 5% and 20% of the purchase price – the more money you put down initially, the less you have to pay interest on later.

*COMPARE RATES, TERMS, AND FEES Compare many lenders and rates to find the right fit for you and your situation. Be sure to add up all the costs so that you are making fair comparisons – include all fees, points, and closing costs in your estimates. Potential lenders should give you a Good Faith Estimate (GFE) within three days of your application which details all the costs—but this is only an estimate. If you can get your lender to “lock in” fees and rates, all the better! Finally, be sure that you explore all your options: savings and loan associations, credit unions, local banks, major lenders, stock brokerages, mortgage brokers, and FHA and VA programs. Each have their advantages: for instance, local banks know the area, the building practices, and tend to be easier to contact, while major lenders may be able to offer more competitive rates, and federal programs may offer lower downpayment requirements.

*BE PREPARED TO PROVIDE DOCUMENTATION Lenders need to know that you can afford to make the payments and that you intend to

Lets Make a Deal!

 make the payments, so you need to provide evidence that you have a steady income and a history of making payments in full and on time. This means that, in addition to proving your identity by providing your full legal name, Social Security number, and date of birth, you will also be expected to furnish at least two years of tax returns and income, employment, and residence history, as well as at least two months of bank statements and pay stubs. You may also need to provide investment earnings reports, divorce or child support decrees, proof of insurance, or documentation of any other assets or liabilities that could affect your ability to make your payments.

The B.O.L.D. Company is uniquely situated to help you through each and every step of the custom home building process, from financing and design/selections to construction and warranty service. We are available to build on your lot in Northern Kentucky, or let our licensed real estate agents help you find the perfect home site! Our in-house drafting and design team, together with our on-staff licensed Professional Engineer, can help you find or design the plan of your dreams! And of course, B.O.L.D. combines quality products and craftsmanship with unsurpassed customer service, so that the finished home is everything you expect and more. Find out why 400+ other new home customers have trusted The B.O.L.D. Company since 1986!

Builders Of Lifelong Dreams

HOW TO BUILD A CUSTOM HOME, Part 5: Design Features — Universal Design and Green Building

Friday, July 23rd, 2010

In this series, the professionals at the B.O.L.D. Company will take you through the process of building a custom home in the Greater Cincinnati – Northern Kentucky area. From plan and lot selection, to mortgage approval, to the actual construction, we’ll take you behind-the-scenes each week for an inside look at a different part of the process.

 This week, we take a look at some important design considerations that should be a part of your floor plan “research and development”.

 Savvy home designers are increasingly discovering the benefits of implementing features from the following categories: Universal Design and Green Building. These contemporary industry buzzwords sound great; but what do they actually mean to you and your new home? 

  • Universal Design The National Association of Home Builders defines this category of home design as “the design of products and environments to be usable by all people, to the greatest extent possible, without the need for adaptation or specialized design.” What this means: taking advantage of common sense features that make your home useable for, and marketable to, people of all shapes, sizes, and conditions. Furthermore, it is a way of thinking about your house in relation to your future in it, including whatever life changes could affect you and your ability to remain in your home. 
      • Living on one floor: Universal design does not preclude a second story or a finished basement. Simply put, the design enables the ability to perform all of the main functions of the home – eating, sleeping, bathing – on the same floor. In this way, if your elderly parents come to stay, or a disabled friend comes to visit, or your own aging joints begin to trouble you, your home remains as hospitable and accessible as ever, to everyone.
      • Step-free accessibility: Universal design provides for access to the home and all of its main rooms without the barrier of steps. Furthermore, the use of doorway thresholds that are flush with the floor allow wheelchairs and other aids to enter more easily, and prevents others (especially those with an armful of groceries!) from tripping.
      • Wide passages and open design: Wide doorways (32-36 inches) and hallways (36-42 inches) allow wheelchairs and other aids sufficient space to more easily enter and maneuver around the home.  Wide passages also make moving furniture easier! Extra floor space and an open floor plan allow room for more people and their needs, while lending flexibility to furniture placement and multi-purpose room use.
      • Safety features: Non-slip bathroom surfaces, handrails, and grab bars benefit everyone, but especially the elderly and the disabled. New design ideas are integrating both safety and style.
  • Green Building Everything is “green” these days: new homes are no exception. The fact of the matter is, several simple considerations CAN make a DRAMATIC difference in the efficiency and sustainability of your home. A little extra thought about placement of the home, products installed, and maintenance practices can save you money and peace of mind, while saving the earth’s resources. Energy Star
      • Passive solar heating: The position of the home, as well as the length, size, and location of overhangs and windows, can significantly affect the energy use of your home – and so, the cost, both monetarily and environmentally. In the winter, sunshine provides natural (and free!) heating energy; however, these come with chilly blasts of wind. In the summer, those rays of sun work against your energy efficiency, while the breezes can aid your cooling system.
      • Appliances: High-efficiency appliances, geothermal heating systems, and programmable thermostats all help to conserve energy resources and lower your energy bills. Look for the Energy Star label when selecting appliances.
      • Insulated garage doors and exterior entry doors, insulated can lights, adjustable door thresholds, and high-efficiency windows all contribute to maintaining comfortable temperatures without high energy use and cost.
      • Low-flush toilets and water-saving faucets conserve household water and lower utility bills.
      • Proper insulation and caulking are also necessary to capture the full benefit of your other energy-saving products.

At the B.O.L.D. Company, we pride ourselves on our commitment to both quality and sustainability. As the first 100% Energy Star Builder in the Northern Kentucky area, we continue to maintain the standards that ensure that each and every one of our homes passes evaluation by a third-party rater. Our homes are 20-30% more efficient than standard homes, saving our customers money and conserving resources for future generations. We also keep up with continuing education and the latest practices recommended by the National Association of Home Builders Green Building program.

 We are also proud of our Certified Aging-in-Place Specialist who can help you incorporate the theories of Universal Design into your next home plan.

ASK THE BOLD COMPANY FOR MORE INFORMATION ON BUILDING A CUSTOM HOME

Builders Of Lifelong Dreams

HOW TO BUILD A CUSTOM HOME, Part 4: How to Select — or Design — a Home Plan

Friday, July 16th, 2010

In this series, the professionals at the B.O.L.D. Company will take you through the process of building a custom home in the Greater Cincinnati – Northern Kentucky area. From plan and lot selection, to mortgage approval, to the actual construction, we’ll take you behind-the-scenes each week for an inside look at a different part of the process.

This week, we offer advice on selecting – or designing your own – house plan.

  • First, consider whether you want to:
    • find a stock plan, make very minor adjustments, and build from that;
    • customize a stock plan with several changes; or,
    • design a custom plan using elements from several floor plans and your imagination.

Your answer to this question will depend on the effort you are willing to put into the process. Of course, the quickest and easiest route is to simply pick one that has already been designed and start building. However, if you have particular needs or wants that are unique to you or your situation, you will spend a lot of time trying to find a plan that fits—when your time would be better spent designing your own.

Some builders will NOT build from a custom plan, nor allow more than very minor adjustments to their stock plans. Some builders WILL build from custom plans, but you will need to find an architect to draw and modify those plans. A select group of custom home builders can help you draw, modify, and build from a house plan.

  • Identify the major features you require of your home:
    • How many bedrooms and bathrooms do you need? Consider your current family unit, but also the likelihood of that unit growing (Do you anticipate having (more) children? Is there a possibility of older children moving back in? Or aging parents moving in? Do you have need for guest accomodations, and do you see that need increasing or decreasing with time?)
    • One-floor or two-floor (or more!) living? Do you plan to grow old in this house? You might plan ahead and either build a first-floor master suite, or a first-floor office with attached bath that could become a first-floor master if needed later.
    • What are your lifestyle and / or entertaining habits? Do you foresee a need for formal sitting and / or dining rooms, or would you prefer to put that space toward a more open, less formal great room/kitchen space? Will you need space for many people, seating for many people, or just “living space” for your immediate family?
    • Where do you spend most of your time? What rooms are important to you right now? What would improve those spaces? Would it be helpful to have a space dedicated to a hobby? Or to an office? Or children’s toys? Or to Sunday football?
    • Where do you and your family need privacy? Bedrooms? Offices? Backyard patios? Think about how your floor plan – placement of rooms, windows, doors, landscaping – can provide privacy to those areas that you want to keep quiet or secluded.
    • What do you NEED to store, and what would you LIKE to store? (And how?) Do you need garage space for a boat? Do you want a walk-in pantry in the kitchen? Or maybe a section of the basement devoted simply to shelving for boxes?
    • Consider your home site. If you already know where your home will be built, then you must take the site into consideration when selecting your plan. Will the house fit on the lot? A wide house on a narrow lot can pose problems. Likewise, a steeply sloping lot will pose greater challenges for some home styles than for others. Also consider the area and the homes around your site. If resale is a consideration for you, you don’t want your home to be the most expensive home on the street. Think about the best attributes of your lot and match them with your floor plan: you want windows facing your best views, you may want to take advantage of or, conversely, avoid the sun’s hottest rays of the day (depending on where you live and other factors), and you may want to position your bedrooms and offices to be further from lot lines, roads, and other homes than other rooms of your house.
    • Think about what furniture you intend to move to or purchase for the new house. If you have a giant antique armoire that has been in the family for generations, be sure you have a place to put it!
    • PETS! How can your new home’s layout make pet care as simple and convenient as possible? Maybe a large mud room with a door to the back yard for bringing the dogs in on a rainy day? How about a cabinet for the litter box in the laundry room with an opening so the cat can get in, but stray litter cannot get out? Where could you install your custom 500 gallon fish tank? Or where will you store your horse’s tack and equipment when you bring it in from the barn to clean?
  • Make a list of features that you would like to incorporate into your new home floor plan. Also make a list of what you do NOT want in your home. These lists will help you remember your priorities. Clip pictures from magazines or take photos of friends’ homes that illustrate your notes or that capture the “mood” you want a particular room to have.
  • Take a look at your notes from the questions above. Search house plans (there are numerous online directories – put “house plans” into your search engine, and you can spend the rest of the day looking at floor plans!) and note which ones meet your requirements. FOCUS on the floor plan layout first and the exterior second, because most floor plans can be matched up with most exteriors. If you find the perfect plan, GREAT! If not, make note of the two or three closest to what you want. Make sure you note what it is you like best about each plan (and what you don’t). An experienced builder or architect can help you merge elements of each into one plan.
  • Now it’s time to think about the exterior of the home. What styles do you like? (For ideas, search for the following terms: “prairie style homes”, “traditional style homes”, “modern style homes”, “southern style homes”). Think about the style of the front of your home, but also consider what you intend to use your yard, front and back, for: entertaining and grilling out, kids’ sports or recreation (trampoline, basketball hoop, swingset). How can the floor plan affect your yard? Do you want a screened porch in the back off the master? These kinds of considerations will affect room placement in the layout.

B.O.L.D. Homes, a B.O.L.D. company, has been established as among the premiere Greater Cincinnati / Northern Kentucky custom home builders since 1986. We have well over 500 customer designed homes to our credit. Work one-on-one with the owners of the company – including a licensed real estate broker, a licensed real estate agent, a licensed professional engineer, and a CAD draftsman/designer – to design your dream home! Contact us today about plans or check out plans on our web site.

ASK THE BOLD COMPANY FOR MORE INFORMATION ON BUILDING A CUSTOM HOME

Builders Of Lifelong Dreams

New Lead Paint Rules for Contractors

Thursday, April 29th, 2010

Beginning Thursday, April 22, Earth Day, contractors working on homes built before 1978 must prove that they are following the Environmental Protection Agency’s new rules regarding containment and cleanup of lead paint – or face fines of up to $37,500 a day.

The new regulation requires painters and renovation contractors to be trained and certified in EPA-approved lead-paint management methods.

The EPA estimates that the new procedures will add $8 to $167 to the average interior remodeling project. Contractors say the cost will be much more.

Source: Washington Post, Deborah k. Dietsch (04/17/2010)

Basement Upgrade Project

Monday, March 15th, 2010

Dan and Janet purchased a resale home and just needed to add a few things to make the finished basement perfect. BOLD was asked to help with the design and installation of a refreshment area for the grandkids to hang out around and a storage area for off season clothes. Check out the before and after below.

How about a wet bar here?

May be a granite drink shelf here?

This space would be great for the closet!

Here are the finished results just in time for March Madness!!

Rich Maple cabinets and a granite top.

Stemware and wine bottles hang out here!

A place to set your "Kool-Aid" when it is your turn to shoot.

Plenty of storage in here!

Thank you Dan and Janet for trusting The BOLD Company to work on your home.