There is lots of excitement that surrounds building your new home. There is something to say about the building of your new home, from touring through different models to get ideas of how you want your new home to look like, to watching your own dream home visions come to life throughout construction. If you have ever spoken with someone whose ever built a new home they may tell you that all of that excitement comes with varying amounts of stress and frustration, too.
Building Your Dream Home, some things to avoid
Confusing base prices with actual prices -Any buyer who’s toured thru a builders model home has seen the starting from $XXX, XXX” signs. Understanding that the prices are merely starting points, when you make the commitment to build your own home in one of these communities. Considering adding even very minor upgrades will increase that price. Assuming the model home features are standard -When you tour thru a builder’s model homes, it is really easy to fall in love with the features. Most model homes are impeccably staged and it is fairly easy to imagine ourselves living there, finally the model homes are designed to entice buyers to features and upgrades that may not be standard in all of these builder’s homes . Do not be duped.
Builder incentives -Builder reps are sure to outline the build process and any especial incentives the builder may currently be offering. The majority of builders may have a preferred lender and buyers may receive peculiar credits for using them. Of course this is not to say that you cannot use your own preferred lender and still receive the same incentives. The only thing you have to do is ask. We have had several clients use their own lender and still receive the builders incentives.
The new home construction process can take normally any where from five to eights months to complete. Most builders have certain milestones that must be completed before construction will even start. In a purchase that we are assisting a buyer with right now. The process was delayed from starting because the builder has a requirement that the mortgage process must be completed to the point of loan commitment prior to the starting of any permits being pulled. And with this lender that process took 6 weeks. Which in turn changed the buyers closing date by 6 weeks as well. 
Not planning for a lengthy build time -When you sign a contract on a new construction home can be challenging, your rep may give you an estimated normal build time of anywhere betwixt 5 and 8 months or more. For different reasons, build times could be shorter or longer compared to that. Essentially, remember that your rep’s estimate is merely an estimate and you’ve got to plan as reported by what your contract states… your builder possibly has at least a year to complete construction. You see, as frustrating as it can be, patience pays in the process of the analyse!
Failing to explore the fine print -With regards to the sales contract… it may seem like a monotonous listing of lawful lingo that’s not essential to you. It is you need to see really what’s in there! Your contract possibly lists your selected penalties, upgrades or even build timeline for delaying construction, among big amount of fine details. With that said, explore the contract, before you sign on that dotted threshold.
Visiting the construction site in the course of the build -You’ve got to visit your construction site frequently. Visiting the home site will ease your mind in different ways. Remember, it will support you to track the timeline to completion; and, you’ll get to watch your dream home appear before your own eyes . You’ll see that your home is correctly built. In some cases you will see something that was done incorrectly. Case in point. With our buyers we had assisted in negotiating a wrought iron railing leading upstairs and it was supposed to continue on the second floor. During the build time they noticed that the was wood framing on the landing, which it was explained that was just part of the safety requirement for construction. Well what happened next was the drywall started going up and the contractor put drywall over the framing, then textured it and then the painter came in a painted it. Then we visited the home and looked and said wait a minute, this is supposed to be wrought iron. Fortunately the builder is a reputable builder and corrected the mistake immediately.
Failing to get your own representation -Typically, a builder’s model home is staffed with the help of real estate agents who represents the builder and can represent you also. Different buyers may feel more comfortable entering the build process with the own real estate agent who will be exclusively representing you during the process. There is no cost to you, nor will it effect the sales price of your home. The builder already has the real estate compensation figured into the sale. Why wouldn’t you want someone who is representing you.
If you are ready to get started in building your new home, Nick & Cindy are always just a click here or call to 813-300-7116 away.