Top 5 Questions to ask Before Building your HomeApr 25, 2016 11:45AM ● By Hood Magazine
1. Should I choose a builder who is licensed or unlicensed?
License offers proof that the contractor has met the industry training. Hiring an unlicensed contractor could cost you more money. If the work does not meet local building codes, or the contractor doesn’t pull the necessary permits (which an unlicensed contractor cannot do), you will be responsible for making the repairs to meet city codes.
2. Am I looking for a production builder or a custom builder?
Custom homebuilders generally DO NOT build the same floor plan. They will take the time to help you custom design a home plan and specifications to fit your lifestyle and future needs. Or they will work with an architect to help you design a professional set of blueprints.
Production homebuilders have a set of home plans that they have built multiple times in the surrounding area. You may be given 5-10 home plans to choose from, minimal modifications can be completed.
3. What is my budget for my brand new
Complete a needs list.
Include the number of beds, baths, specific room sizes and specify the location of the land.
Complete a wants list. Examples: granite counter tops, sub zero fridge, core floor, or freestanding Jacuzzi tub.
Other items to include in your final budget: septic system, culvert, utility hook ups if you’re not building on a city lot; fences, and landscaping.
4. Do I have to sell my home before
Consult with a real estate broker to help you determine the value of your current residence. Then, consult with your mortgage lender and to help you with your next step!
5. Am I looking for a quality builder or an affordable builder?
Quality is something that is just expected by the general public and not noticed until you’ve lived in your brand new home for over a year! Quality is having reputable sub-contractors who are established and have had several years to prefect their work. They have outstanding relationships with their local suppliers, vendors, sub- contractors and realtors.
Cheaper estimates could be a result of multiple things, like hiring unskilled laborers. This could cause warranty issues, missing important elements in the completed estimate, and or the builder may be a startup business with little to no experience.