BUIDING A CUSTOM HOME IN 2023 | WHAT WE REALLY PAID

Welcome to my raw and real truths and costs about building a custom home in 2022! Some of these costs were completely unexpected and sky high and some were musts that we could not pass up! I also open up about what our Monthly mortgage payment is, our down payment, and our loan amount ! Whether you are looking to build custom, buy, or just looking for entertainment, I hope some of these honest numbers could be of some help or amusement! Building a custom house was such a dream come true and the biggest blessing that could have happened to us at this time in our lives !
Thank you guys SOOO much for almost getting us to 1000 besties !! You truly mean the world to me and I’m so glad you found our perfect little corner here on KZbin where we can have fun, chat, and have the best time ! ❤️
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#costtobuild #newhomecost #dreamhome

[@morewithmarianna]

Thanks so much for sharing the numbers. It soo taboo so this is appreciated and informative.

[@homebodied]

Oh of course !!! ❤️❤️ I am typically a very open and TMI person so I can’t even imagine trying to make this video doing a whole runaround with the actual numbers !! I’m super glad this was helpful for you!! ❤️❤️

[@ArmyMedicRN]

Some of the numbers she mentions: Base price structure without options $314,895 Lot $64,536 Overages for options $5,125 Exterior Stone $8,760 Recovery fees $4,303 Concrete $11,895 Total Paid $411,000

[@bmannatt]

you're the real MVP

[@louisn9084]

But how big is the house?

[@homebodied]

2643 sqft including garage

[@cms7321]

How much did you have to pay out of pocket total?

[@borisndong6747]

Too expensive

[@poetz153]

I love this. I was thinking 450k to 500k was not enough but we can totally do it. We’re in the debating stage of to custom or not. That mortgage is totally affordable, however I personally won’t do the adjustable that was part of the 2008 crash.

[@homebodied]

Yes that’s totally a budget you can work with when building a home !! 😊😊 In my area, a mortgage payment like this is definitely not typical and then I got to thinking about other states in the US and how that is probably more of an average cost lol 😅!! My personal belief is that a crash like the 2008 crash is very unlikely to happen especially with the due diligence banks have with requirements of being a borrower and the demand for housing due to rapid population growth. In the rare circumstances it were to happen, we will always have the option to refinance the mortgage, so in the meantime the lower interest rate for a guaranteed locked in 8 years was the smarter move. The key is to remember you can refinance at any time and knowing whether you are in a long term / forever home or a house that you are going to move from within 2-5 years! Knowing that this is most likely our forever home (or at least 10+) makes that an easier decision. Nobody can predict the market but when you zoom in, it’s always going up AND down but when you zoom out (long term) it’s always going up! I’m glad you enjoyed the video and good luck on your home!!! 😊💖

[@vincentscott712]

Thanks for sharing. Currently building a custom home in Delaware. As far as interest rates go. Most lenders will allow you to buy down points to reduce your rate. It's an upfront cost that will ultimately reduce your mortgage payment. If you plan to be in your home for any length of time. Seriously consider it. Also there are various ways to reduce a 30 year mortgage. Just do some due diligence. There is plenty of information out there. Congratulations on your new home. It's very beautiful. Vinnie from New Jersey. God bless.

[@homebodied]

Thank you, I definitely do my due diligence ESPECIALLY when it comes to finances! Luckily, I have a huge benefit of working at a bank and had the easiest access to people with first hand knowledge from the experts themselves. We took multiple months going through every single possible option and even changed the plan a few times and what we are doing is very manageable for us. I am a huge advocate of financial literacy and will absolutely never put ourselves in a bad spot just for a singular payment a month and always encourage others to do the same ! Thank you so much for the congrats, I appreciate it !! 😊

[@mercytalam6027]

Hey Vinny. I am looking to build too . Would you be able to share a good builder in Delaware? I am looking into the same too

[@blushbb.]

This totally deserved a subscribe. Love how you went into detail, this channel is a hidden gem!

[@homebodied]

Thank you for the sweet comment, totally made my night! Thank you & welcome !!! ❤️❤️❤️

[@NathanWind99]

Thanks for sharing your experience. We've recently been thinking about going this route instead of trying to find something we like. My main worry is the additional nickel and dime costs over and above the building and extras. Things like permits, utility hook ups, etc. So far it seems like the total costs are comparable or even a little better than the existing home listings in our area.

[@homebodied]

Of course, I am glad I could share ! I would say definitely inquire to some builders near you and see what they estimate the cost would be of a model you like and then go from there. As long as you have a base, you can really determine how much you are willing to spend because any upgrade would be up to you! Also some upgrades that are more personal style choices won’t add to your value such as lighting but some things will make it a bang for your back such as adding a range hood or basement which adds more value than you would be paying for. You don’t have to lock into anything but having the conversation will definitely give you a good idea if it’s worth it ! Our builder was also phenomenal and told us things that would be worth it vs what they thought they charged way too much for and that we would be better off outsourcing and would even give us recommendations if we needed it ! We started the process Q3 of 2021 and we were locked into costs by the end of the year so I’m not sure what costs are present day !!! Hope I could help 😊!

[@Mnguyen120]

Little confused you said you’d payment for 30 years is 2100ish, but that you got an adjustable rate mortgage. So that means at some point your rate does change. It’s usually 1,3,5 or 10 year ARM. To not confuse people. Once it goes up you need to either just pay the higher payment or refinance.

[@homebodied]

Yep that’s exactly what it is. It won’t change until the 7 year mark and after that it will adjust every 3 years if we don’t refinance by then 😊

[@ULS-]

Love this level of transparency. Thanks for sharing.

[@homebodied]

Of course, I am so glad that I can share and hopefully help somebody get a real idea of what it’s like !!! Glad you enjoyed !! 😊

[@MichaelJamesTV97]

Just found your page and I'm so glad I did. Love your videos and overall vibe, very warm & inviting. I start building my home this year and soooo nervous. Congrats on your success, binge watching you vids!!

[@homebodied]

Awwww welcome, that truly makes me soo happy to hear !! Congrats on your new journey!!! ❤️❤️

[@angelhicks9106]

I get it! We just bought a house in April and I swear we wish we would of bought in 2020. 😢 we are great full though

[@homebodied]

Yes girl, the market has been so crazy !!

[@BrianaBudgets]

3:19 is the start of what you came here for

[@homebodied]

🫶🏼🫶🏼

[@homebodied]

Y’all, I am WAAAAYYY too comfortable over- sharing with you guys already 🙈💕 WHOOPS 🤪

[@birdlane]

Happy to have had your channel suggested ❤ This was so well executed. Custom building is pricy but so special because you get to design and choose every aspect of the home making it more personal as well as unique in my opinion. We are looking forward to ours. Subscribed! I will be binge watching to catch up on your videos! God bless your new home 🏡 🙏🏼

[@homebodied]

Oh my goodness, your comment just made my day, thank you !!! So glad you ran into my corner of KZbin, soo happy to have you !!! ♥️♥️

[@birdlane]

@@homebodied you are so welcome! Really you guys should be so proud of yourselves this is a huge accomplishment! God is good! I'm sure you're younger than me and you already have your home! (I'm 38) nothing wrong with age but just making the point that it's such a blessing you have your own custom home at that too!

[@homebodied]

Amen !!! We are truly soooo blessed and thankful that we got the chance to experience something like this in our lifetime and never take it for granted !! 🙏🏼🤍

[@dlg5485]

Thanks for your transparency! Windows are one of the most important items in your home, so you should never scrimp there. I am in the process of planning my home build and my window package is going to be almost $20k because I'm going with a high efficiency triple pane fiberglass that will last forever. My house will be Net Zero certified so the performance of the exterior envelop (walls, roof, windows, doors) is literally the most important thing to get right. I would never do an adjustable interest rate because it will definitely go up in the future. You're better off locking in a slightly higher fixed rate because you can always refi later if rates go down significantly. I've seen so many horror stories of people with variable rate get shocked with 2 or 3 point rate hikes out of nowhere, and there is nothing you can do about it.

[@homebodied]

Im glad you enjoyed! Sounds like you’ve done your research, that’s so exciting!!! Adjustable rates are not as scary as they seem and actually truly have a lot of misconceptions, and I was hesitant as well but after asking a ton of questions it truly seemed like a no-brainer. Although I have an “adjustable” rate- it’s still fixed and know exactly what my payment will be throughout the 30 years. The first 7 years are fixed and after the first 7 years it will go up every few years to a rate that I already am made aware of- so it’s not based off of prime like a HELOC is. Also, if rates were to drop significantly like they did in 2020 or if they dropped below our current rate, we also would have the option to refinance so really doing our due diligence and researching the market even when already homeowners is a smart move and could save us thousands. Adjustable rates are also great for people that are planning on paying extra on their home rather than just the monthly payment or for people that maybe will move sooner than the first 7 years. Another great time to have an adjustable rate is if somebody isn’t in their forever home and is planning to move within that first initial 7 year period where a rate adjustment wouldn’t even be a factor. Now, an adjustable rate would not have been smart for me to get in 2020 when the rates were already 2.5% because that’s really as good as it could have gotten but nowadays if you are going to be “locked in” to an 8%, it is absolutely worth getting an adjustable rate and refinancing down the line. I’m sure everywhere is different and I’m not the mortgage expert at all (this was just our experience) so any good mortgage lender can definitely answer any questions or give you better options! All mortgage types aren’t for everybody and that’s why there’s lots of options!!! Thanks for taking the time to leave a thoughtful comment!!! 😊

[@dlg5485]

@@homebodied I see. That's a different kind of ARM than I'm familiar with. Adjustable rate loans use to adjust randomly based on 'current market conditions' so it seems they are an entirely different product now. As long as you are comfortable with it and understand it fully, that's what counts.

[@rhill6014]

Thank you for being so transparent!

[@homebodied]

Absolutely!!! I definitely think it’s important to be able to talk about real life experiences especially when it comes to finances and financial literacy!! I’m glad it could be helpful ! 😊

[@eboniandrea]

You mention the % rate on the house was like 4.65ish. But I was curious about the property tax rate which increases the monthly mortgage the following year after your home has been re-assessed? Based on the property tax rate how much more will your mortgage increase because from what I understand it does after putting a house on a lot/land. Overall great video loved the transparency .

[@homebodied]

Oooo girl you stumped me there, that’s honestly a great question and one that I probably won’t find out until it goes up 😅 See, it’s the boring important stuff I should have paid more attention too 🤣 Thank you, I’m glad you enjoyed the video!!

[@sairagarcia2078]

Thank you for this video. It really gives me hope that I can build my dream home. Recently started shopping for a new home and toured a beautiful cottage style but it sold before we could do anything. Now I want that exact floor plan. Anyway I hope one day to be in my dream home. Thank you!

[@homebodied]

Yay, I’m so glad to hear that and I’m always happy to share! I feel like houses go so quick nowadays! Yours will come soon, best of luck !! 💖

[@christineb4823]

Thanks! I don’t get why talking about money is so taboo. I feel like talking about it builds each other up. Thanks so much 🎉

[@homebodied]

Absolutely, I totally agree! I’m glad this is helpful!! Thanks for watching !!!

[@mngo89]

Good video but a little misleading. This is more of a semi-custom home from a builder where you choose from available lots in a subdivision and set floor plans and then you get to choose all your finishes. Fully custom is when you hire an architect to design a fully custom floor plan unique to a specific lot. Then the selections and finishes are even more limitless.

[@homebodied]

Not misleading at all as our home is not semi custom, we went with a fully custom builder and did plenty of modifications that are not semi custom. We did not need to hire an architect for the modifications we did. The reason we went with our builder is because we LOVED the floor plan so therefore didn’t have to change much and saved a ton of money because of that. We did have the option to involve their architect if we had a complex idea that would have altered the dimensions dramatically. The simple things such as removing the bathtub in the master and adding a linen closet instead and adding an office to our home. We did in fact choose a custom builder but a lot of the structural options I was happy with already. We also were not limited to the subdivision we live in, we told them where we wanted it build but could have built on an empty plot of land in the country if we chose to, but we love a neighborhood vibe for a growing family. We had no limits, I guess I have simple taste lol ! Glad you enjoyed ! 😊

[@mngo89]

@@homebodied sorry if it came off as I was discrediting you - not the intention at all! Nothing against semi-custom homes. They’re great and make a lot of sense! But I sought to clarify because the fact that you chose a set of plans from the builder that was already in place (and if you loved 90+% of the layout that makes total sense) this makes it a semi-custom home. Even if you had the option to go fully custom or change anything. I say this because the cost between the two is vastly different. The builder has these plans already developed and knows the exact cost it is for them to build it (it’s scalable). You can make any changes still, yes, but the majority of the builders costs is already forecasted. They’re able to build this type of floor plan cheaper because they’ve done it before and making minor changes is easy. When it’s a fully unique and custom floor plan and set of plans (plumbing, electrical, hvac duct layout, wall assembly, etc. are all new and attribute different cost) the cost to building a one off home is again different. So while you made an awesome video with transparent numbers, it’s not the same as a fully custom home and the cost is wildly different.

[@homebodied]

Oh no, of course not , it’s a great conversation to have and exactly why I find these videos helpful ! But that makes perfect sense and love the input! Holy moly, I can not imagine starting from literally 0 after going through my build that started with a great head start then! Looks like I’m still learning something new about the process every day ! 😅

[@eboniebo1367]

That’s a great payment. Especially for such a beautiful home🤍

[@homebodied]

Thank you sooo much !! 🥰

[@music7181]

Would ve been great if you show videos of the lot and the house etc 👍

[@homebodied]

Yes, so sorry about that ! I actually have a lot of footage I took during the home building process that I will try to still utilize in a video hopefully soon ! My empty house tour shows some more details in the house ! 😊

[@naromiesbeninche6975]

Blessed people in Indiana....over here in Texas, Dallas Metro Plex... that's not even possible 😅

[@homebodied]

Haha oh I believe it! We also got pretty lucky with timing , it was before prices completely skyrocketed. Idk if we would have gotten such great of a “deal” if we did the exact same thing today 😆🙈

[@yosoyal9176]

Thanks for this video! Very helpful!

[@homebodied]

Yayyy so glad to hear that !!! 😊

[@AlexysEisenhour]

This was very helpful, thank you! ❤️

[@homebodied]

Thank You, I am sooo glad it could help !! 😊🥰

[@carlahumphrey9321]

This was good, thank you.

[@homebodied]

Thank you, so glad you enjoyed !!!

[@louisn9084]

Thanks for sharing. We are comparing production builder vs custom builder in Canada. Did I miss the size of the house? In Square feet?

[@homebodied]

2643 sqft including the garage! Hope that helps, Glad you enjoyed !! ☺️

[@PlanningPraying]

If this is to personal of a question, please forgive me, but does your mortgage payment include your HOA, insurance, etc.?

[@PlanningPraying]

And Property taxes?

[@homebodied]

No unfortunately not, our mortgage payment does include PMI & escrow but besides that everything else is a separate payment ! Great question !

[@andrewmartin2649]

New drinking game. Every time she says uhh or umm you take a shot.

[@homebodied]

LOL I’ll play too, we all needed a good excuse to drink anyways ! 😜☺️

[@juststuff01]

I will pay over $200k in INTEREST ONLY in our next 5 year term. Our house has builder basic fixtures and no landscaping. We don’t have 30 year terms, the bank wouldn’t even give us a 10 year - at all, regardless of rate. If we stay here, our mortgage payments for our next term will be $8k/month. For a much less fancy home than yours. And Canadian salaries are lower than the US.

[@homebodied]

Oh wow, that definitely sounds less than ideal. Our grass and landscaping also wasn’t included with our mortgage, we went out of pocket for that expense!! Do you plan on moving elsewhere/ have any other plans !?!! 😮

[@Creeksideknoll]

What is the square footage of your home?

[@homebodied]

I believe including the garage it’s about 2500 sqft, it’s been a while since I’ve looked at the numbers so that’s a rough guess 😅

[@anthonyescareno]

I just purchased a lot for $390,000 (cash) and going to build a 3,250 square foot house at $1,100,000 in Santa Cruz County, California.

[@homebodied]

That’s exciting, congrats!

[@itsmejuju1221]

Do you feel like the loan amount is worth the house?

[@homebodied]

The loan amount is what we still owe on the house so our down payment is deducted already from the value and we have lots of equity. The value has already gone up with the installation of our landscaping and sod but at closing the valuation was at approximately $407,000

[@queencityminis]

Thank you for sharing! Your lot was so cheap. The lots in my area are $280k.

[@homebodied]

Oh my goodness, that’s crazy 🙈😨 Glad you enjoyed !!

[@suzihammond200]

I suspect this wasore of a semi-custom build due to the lot not being something you had to select and actually do your own site prep (i.e. pull water/power etc). We are going to be building custom in the state of Washington and it's more than triple what you're number is.😢

[@homebodied]

We actually did choose our lot and have site prep which took place once we signed our contract and closed on the location we were building on. Semi custom home builders in my area consist of very basic selections such as maybe paint color in certain rooms, light fixtures and even from there, they would only have a few options to choose from that the builder has on hand (these houses basically all look the same and buyers don’t even get to choose the floor plan/any changes beyond that, any exteriors, Flooring, windows, doors, placement and your right- the lot). These usually are done within no more than 6 months. Price difference can be due to a plethora of different factors such as price of land, selections, geographic location, size of home, upgrades etc. More than 3x of what I paid for my home is definitely buying a mansion in Indiana lol! I’m sure if I took the same price range to California I’d be living in a shoe box which is why every situation is truly so unique. Good luck building & congrats on your home !! 🤩

[@ChinithaJohnson]

Man I wish these numbers existed in Illinois 😢

[@homebodied]

Aww I’m sorry, numbers have increased a ton since we built and really lucked out on timing! I can’t imagine being back in the market right now!! 🥺

[@tamekadavis9051]

Heyyy and thanks for sharing

[@homebodied]

Heeeyy Girl, thanks for watching!! ❤️

[@healthedgyelements3124]

So you said $5000 down and then additional $11,000 this would go towards final . so what was the total cash needed you had to pay to have home built?

[@healthedgyelements3124]

i got it total cash was $36k needed for down payment and closing.

[@homebodied]

Specifics are a bit fuzzy at this point without looking at documentation but believe it was somewhere between 33k-37k total cash we paid including closing costs 😊

[@jennifer9528]

I've noticed, when answering questions about the size of your home, you keep saying, "2643 sqft INCLUDING the garage." When homes are listed for sale, the size of the garage is not included in the square footage presented as the size of the home because it's not livable space. Can you provide some clarity? Considering a 3-car garage such as yours can run an additional 600 +/- sqft, are you saying the size of your home is 2643 sqft PLUS a 600 +/- sqft 3-car garage, or is it 2,000+ sqft plus a 600 +/- sqft 3-garage? Thanks!

[@homebodied]

Oh that’s a great question! I’m not quite sure on the exact size of the home excluding garage space, but the size would be roughly around the 2000 sq ft range!! 😊

[@jennifer9528]

Awesome info, thanks again!! Really good video, btw, and so was the tour of your beautiful home. You have a lot to be proud of. Congrats on your closing! 💖🎉

[@homebodied]

You are so sweet, I appreciate you !! ♥️♥️

[@kristina3082]

Thanks so much for sharing! How large is the lot you built your home on?

[@homebodied]

Great question, I had to go back to my paperwork to find this one haha ! We are on a corner lot so it’s one of the largest ones in our phase sitting at 15,081 square feet !

[@quanyin2123]

With building a complete custom home is there a design center you go to, to choose all your finishes or do you just go to different locations to choose your finishes such as flooring, sinks and so on?

[@homebodied]

That’s a great question, I am sure it’s different for every builder and situation. For us personally, we had a selections meeting our our builders office for everything besides our kitchen and lighting. Our kitchen appointment was at a local lumber store and had a full design appointment and our lighting was at a local lighting manufacturer. All of our lights except our kitchen pendants were selected from our lighting appointment. our kitchen pendants that we originally chose were discontinued by the time it came to order them and there wasn’t another one that I was completely in love with so I purchased our pendants from west elm and just had our builders install it. Even with the selections meetings and appointments, they gave us the option to look elsewhere and even look online for anything else we wanted or were interested in. They definitely gave us recommendations, and refferals to places we could see specific things in person, or websites with even more great options, and even went as far as us telling them the vision and them coming back to us with options in that realm!

[@quanyin2123]

@@homebodied thank you for all that detail; always wondered how that process goes! I've watched so many videos on complete custom homes and that's one thing they don't talk about, thank you!

[@homebodied]

Of course, I am so glad I couple help ! That makes me happy to hear because I always feel like I’m over explaining myself with replies!! ❤️❤️❤️

[@Victoriahull]

What was the builders name? I'm going to be involved in everything. They all will know who I am and I will know theirs. 😊 Could you have bought things yourself?

[@homebodied]

Gj Gardener Homes! Totally understand, that’s how it was with our builder ! We were super involved in everything since they build homes that are fully custom and got to choose every single thing from paint color, to lighting to where you want outlets ! Yes we were able to buy our own things if we chose ! We got our appliances, range hood, and pendant lights above the island ! 😊

[@cms7321]

What was the $5000 dep for? The $11,000 dep was for the land correct? Then I got lost when you said you had to pay $17,095.49 lol (was that paid when house was completed or at closing?) was that just for the overages? How much loan were you approved for?😁

[@homebodied]

My mind is a little fuzzy now with all the details but the $5000.00 was due upon signing the contract and was going to go towards all the fees for permits and such for land. I think the $11,000.00 was paying up to a certain percentage of what the cost of the total cost would be at that point , I’d need to rewatch my own video to remember lol 😆. The remaining funds was the amount due at our closing ! We were approved for 450.

[@cms7321]

@@homebodied thank you🙂

[@JJ-ss4rq]

Can you share what city you built in?

[@homebodied]

We are in Indiana !

[@Jadde2323]

Not bad at all!

[@homebodied]

Totally doable !!!

[@frankieguinto8121]

What state was this?

[@homebodied]

Indiana, and started the process in 2021!

[@music7181]

Was this in FL ?

[@homebodied]

I wish! We are in Indiana !

[@cfox1789]

How much was the 3 car garage? New subbie.

[@jennifer9528]

I'm pretty sure the cost of the garage is included in the total price of the house. It's not a structure that would come with its own price tag unless the house was built without the garage, and they later added it after the house was complete.

[@homebodied]

I believe that is correct, I don’t remember seeing a specific number for the garage so it must have been standard to the contract!

[@cfox1789]

Thank you both. Most new builds come with the standard 2 car garage with the third port being an additional structural upgrade cost. I was wondering approximately how much that addition is?

[@homebodied]

Oooh I see, that makes sense !! Maybe I didn’t notice it since the plan I based by build off of already had a 3 car garage implemented!

[@guynoel4548]

CAN YOU PLEASE GET RID OF THE ECHO...

[@homebodied]

Should be gone soon! Takes a while to fill an empty house ☺️

[@BrianaBudgets]

You clearly built your home in 2022 so why title it 2023?

[@homebodied]

I changed it when the year changed of course, the information is still the same ☺️

[@ArmyMedicRN]

@@homebodied The prices are not the same, however. It can be quite misleading.

[@homebodied]

That’s Understandable! Prices could really change monthly, weekly or even daily. (Especially in these times) This was just my experience and what I really paid which was only 6 months ago. Feel free to take it with a grain of salt ESPECIALLY because no two builds are the same !

[@asr-xm8gp]

You will lose your home with the adjustable mortgage.

[@homebodied]

We would not have gotten an adjustable rate if it was even a slight possibility. Our adjustable rate is locked for the first 7 years at a rate way lower than prime and then adjusts every few years to a rate that is already pre determined and in our contract so we essentially know the rate it will be at during the whole life of our mortgage, as well as the payments we will have during those changes. If at any time prime goes lower than our rate, we have the option to refinance. Understanding the market and the product we are contractually bonded to is not something we took lightly and don’t regret at all.

[@xoangelicaf0523]

You’re amazing for giving us all the details and money talk🩷

[@homebodied]

Thank you, sooo glad you found it helpful and enjoyed !! 🥰