Building a home is a process that most people are unfamiliar with unless they have gone through it before. In fact, chances are if you are considering a new home, there may be aspects that make you nervous about the idea of building because of the unknowns- how much does it cost? How long does it take? We understand people have questions and we want to answer them! We hope this blog serves as a portal of information to make the thought of building a home with M/I Homes Indianapolis more achievable! After all, building your dream home is an exciting venture!
Here’s how it works…
A family, individual or couple meets with our new home sales consultant in one of our 8 model homes. After talking with the new home consultant about your wants and needs in your new home, he or she will suggest a few floor plans and communities that will fit your specific desires. After choosing the floor plan and community for you and/or your family, you would choose the home site. In most cases, a community will offer home sites that back up to ponds, tree-lines, are on cul-da-sacs, and even golf courses.
Once you have your community, floor plan and home site chosen, you are able start personalizing your new home. The next step is to make structural decisions- do you want a fireplace, bonus room or basement, etc.? The new home consultant then takes all of your desired options and prices out the home. If it’s over budget, the new home consultant will work with you to take out the least necessary items to stay on track financially. All of this information will give us a structural quote. At this point, many homebuyers take the home site off of the market by signing a purchase agreement and starting the new home building process.
Within 5 days of purchasing your new home, you will need to obtain your mortgage loan. You can do so by working with our partners at M/I Financial. They are located in our corporate office. Our one-stop shopping enables you to save time and money. M/I Financial Services is dedicated to helping you with your financial service needs throughout and beyond the home buying process. With their office just down the hall, communication is never an issue. M/I Financial is up to speed with our home buying process and is known for their unparalleled quality of customer service.
Next up is a fun part, a trip to the design center! At M/I Homes, we know that personalizing your home is one of the most important things we can offer our home buyers. You can visit the design center located in our corporate office to choose design elements like cabinets, flooring, brick, paint, faucets, etc. This visit typically lasts three hours.
When your selections are finalized, our architects start drawing your floor plan. Once we have that complete, we can apply for a permit to build in your city. This takes on average around 2-3 weeks. In total, there’s around 1 month of prep work before building begins. The exact timing will depend a lot on how soon the loan is obtained and personalized selections are finalized. The good news, once we get the permit, we’re ready to build!
It takes between 3 and 4 months to build a home. The duration can be dependent on weather, custom options, and more. Homeowners need not feel alone during the process! Once we are ready to start building, you will get to meet with the person who is actually building your home. Because customer service is a top priority for us, you will have your new home consultant with you at this meeting as well. On top of that, each week during the building process the new home consultant and your construction supervisor will call you with updates on the building process so you’re constantly in the know about what’s happening with your home.
Another place customers can receive support is from their Realtor. A Realtor will act as another person to bounce ideas off of and be there to help answer any questions along the way.
In all, the entire process of choosing to build with M/I Homes Indianapolis and moving in to your dream home will take less than 6 months! Here’s a brief breakdown of the building process we’ve discussed:
• Choose a floor plan, community, and home site in which you’d like to build
• Make structural plan (basement, bonus room, kitchen island, etc.)
• Purchase home
• Obtain a loan
• Design Center trip (choose cabinet colors, carpet, etc.)
• M/I Homes will apply for permit with city
• Begin building
• Move in to your dream home!
If you have any additional questions about working with us, financing or the process of building, contact our Internet Sales Associate, Wendi Smith.