Building a New Home Guideline
A few suggestions to the upcoming new home buyers. The Home building industry isn't as organized as the commercial building industry. That has to change and unfortunately it's the buyer that's paying the price of certain associations not educating their members or the general public.
1. Put together a wish list including all your wants and needs. Provide this to each builder you are getting quotes from. Also, attach the wish list signed and dated by all parties to the final purchase agreement. This will protect you and the builder from discrepancies of verbal agreements which don't hold any water in court. Request that the wish list is referred to in the builder quote.
With today's economy builders are desperate and some times find ways to be the low bidder only to sock it to the buyer after construction has started. A wish list off all your needs will help to eliminate some of these over runs. The builder that under bids the next builder by $10k isn't always the best choice. It's not the bottom line that the buyer should be looking at!
2. Interview builders and choose the builder that best fits your needs. Get references from previous clients of the builder.
3. Check with the local Home Builders Association (HBA) and/or the Better Business Bureau. Ask the HBA if there have been ethics complaints against the builder.
4. Use search engines to check for any postings or news about the builder.
5. Have a plan that each builder is bidding from. Best approach is to have a plan drawn, but also the most costly if the plan isn't within your budget. Next choice, plans from magazines or online. Once you have the general cost of the home then have a plan drawn. Once the completed plan is finished it may change the price up or down as plans from magazines square footage can fluctuate when put on paper. Many builders include the plan as part of the building process. Plus the builder may have stock plans for you to choose from.
6. Tour the builders homes that are under construction, not just the model homes. For liability purposes the builder will most likely want to bring you on these tours.
7. Check with the local building inspector, many times they can't add their two cents, but some will.
Do your home work in advance, get organized, provide your wishes, protect yourself and GET IT IN WRITING!
Home building can be a fun and rewarding process.
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