What are the steps to buy a new-build custom home? (Total rookie here)

So a few things: I got a new position at a bank (which means employee mortgage rates), and I consider the environment very stable and long term, and my income is $62k/year. My long term girlfriend makes a decent income as well, with $80k/yr. Based on this and our current savings, we feel like we can be financially ready for our first home purchase likely within the next year or so.

Since time is no issue, we were considering a new build with a reputable custom home builder in our city, but since this is our first time we really have no idea the considerations or even the process! My current understanding is that I have to purchase a sufficient lot of land, and then get the builder to build there or something? Or maybe I'm entirely wrong in the process. Can someone give me a quick sum up of how the process works, or guide me to some reading materials? I'm in Canada if it makes any difference (Alberta).

More real estate tips at Program Realty Wix site


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