Landscape and hardscape in build package

9 years ago

We are meeting with the first builder to discuss our plans, build process, etc in a couple of weeks. Our budget is probably a high little high for what we're looking for in the structure, but we want to include professional landscaping and possibly a pool in the overall budget. Is it possible or common to roll this into the overall budget and loan process? We've built a couple of houses in the past and the cost of landscaping, hardscape and all the extras after construction is significant.

We're bringing significant cash to the table and will be over 50% equity on $900k value, so I wouldn't think the bank would have a problem with this.

Love to hear thoughts from anyone who has been down this road.

Comments (3)

live_wire_oak
9 years ago
You want to have 100K of improvements put into the loan? To pay the extra interest on? Rather than skip paying interest on and paying cash? Why?
shiltsy
Original Author
9 years ago
The thought is to have the builder act as GC for the entire project, not just the structure itself. The amount of the loan doesn't change in either scenario.
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kayakboy
9 years ago
In our build the landscaping is included in the contract and loan, with the reasoning being that interest rates this low makes this attractive.

We are thinking about adding pool into construction loan because including that in the first mortgage will have a lot better interest rate than as a standalone pool loan.

We also aggressively negotiated down the builder's fee on both these parts of the contracts as this was somewhat bonus work for them and less oversight required than for the main build.