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Posted on 5/10/18 at 2:54 pm
Posted on 5/10/18 at 2:54 pm
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This post was edited on 11/1/18 at 9:16 pm
Posted on 5/10/18 at 3:01 pm to BlueChips
First, you'll need plans--whether selected through your builder, provided by an architect, or picked off of the internet. No worthwhile cost estimates are remotely possible without spec'ing out a particular house. Certain exterior and interior features can drive up cost per square foot tremendously.
Posted on 5/10/18 at 3:05 pm to BlueChips
second, quit calling it a custom home.
Posted on 5/10/18 at 3:12 pm to BlueChips
Read
Although, most contractors will have a standard contract with a set price and then extras billed immediately.
My best piece of advice is DO NOT make your final payment until everything you want is 100% complete and to your liking. You won't be a priority anymore when the contractor has your money and there are tiny things that need to be fixed. You'll wait and wait for something that takes minutes to do.
Although, most contractors will have a standard contract with a set price and then extras billed immediately.
My best piece of advice is DO NOT make your final payment until everything you want is 100% complete and to your liking. You won't be a priority anymore when the contractor has your money and there are tiny things that need to be fixed. You'll wait and wait for something that takes minutes to do.
Posted on 5/10/18 at 4:28 pm to BlueChips
Don’t move in until punch list is 100% complete
You will get a quoted price based on plans. If he misquotes, that’s his fault and digs into his profit. There will be allowances given for certain items like appliances, cabinet/door hardware, etc. if you exceed allowance, that comes out of your pocket.
Unforeseen construction issues due to site conditions will be your responsibility bc you own the lot. If there is an unknown item buried underground and needs to be removed, that’s all on you. Soil conditions can be responsibly of either party depending on contract.
You will get a quoted price based on plans. If he misquotes, that’s his fault and digs into his profit. There will be allowances given for certain items like appliances, cabinet/door hardware, etc. if you exceed allowance, that comes out of your pocket.
Unforeseen construction issues due to site conditions will be your responsibility bc you own the lot. If there is an unknown item buried underground and needs to be removed, that’s all on you. Soil conditions can be responsibly of either party depending on contract.
Posted on 5/10/18 at 9:00 pm to BlueChips
You need to exercise discipline to not exceed your allowances. A little overage here and a little there can add up quickly. Also, you need to decide if you want to pay more for construction costs to save energy costs in the future. Some costs are negligee up front such as running wiring before walls and ceilings go in to give you flexibility in the future for computing and electronics. Good luck.
Posted on 5/11/18 at 7:46 am to BlueChips
Just tell builder you would like to do fixed cost build vs cost plus, with builder getting flat fee for his services. You want all your budgets clearly outlined (lighting, appliances, tile, counters, plumbing fixtures,etc...). Then before signing contract visit his vendors and pick out what you would like. Ask them for a price. If they can't give you a price, its because builder is putting margin on those selections. If builder is doing flat fee project then margins on his selections is double dipping. builder can also lock his pricing in with vendors for 30 days so not huge rush but time is of the essence. Ask builder what his carrying cost are vs construction loan for you. He may get cheaper money.
Timelines are important. When builder says make your selections, make your selections. Construction has moving parts. Not all your selections are stocked or will be in stock because 8000 other people are building and making similar selections. Aside from counter slabs, selections aren't earmarked in most cases. Give builders vendor ample time to get materials in and subs to install said items on timeline given at start of project.
If you want to make small changes (slightly widen a hall, move a door over, add a can light,etc...) always go to the GC/PM, not directly to the builder. The builder will usually charge you every chance he gets, whereas if the PM is onsite he wants job finished so its easier than waiting for change orders and other bullshite paperwork. He'll just knock it out. Most cases builder will never know.
You by law get a 12 month warranty. after 11 months in the home, have a quality inspector inspect the home. Everything that inspector finds (and he will find things) make that builder accountable for. Because after 12th month any non addressed issues are your problem, not his.
Good luck!
Timelines are important. When builder says make your selections, make your selections. Construction has moving parts. Not all your selections are stocked or will be in stock because 8000 other people are building and making similar selections. Aside from counter slabs, selections aren't earmarked in most cases. Give builders vendor ample time to get materials in and subs to install said items on timeline given at start of project.
If you want to make small changes (slightly widen a hall, move a door over, add a can light,etc...) always go to the GC/PM, not directly to the builder. The builder will usually charge you every chance he gets, whereas if the PM is onsite he wants job finished so its easier than waiting for change orders and other bullshite paperwork. He'll just knock it out. Most cases builder will never know.
You by law get a 12 month warranty. after 11 months in the home, have a quality inspector inspect the home. Everything that inspector finds (and he will find things) make that builder accountable for. Because after 12th month any non addressed issues are your problem, not his.
Good luck!
Posted on 5/11/18 at 8:22 am to ItNeverRains
Excellent advice here ^^. Fixed cost makes everything pretty transparent; you should receive an estimate broken out by category, and you can determine if you’ve saved $$ in one area that can be applied to another. (Like if you are under on your plumbing fixtures allowance, shift those funds toward a higher end countertop selection).
Light fixtures can be ridiculously expensive. Go someplace like Pine Grove in Covington with a huge selection, or do some internet comparison shopping. Similar looks are often available at a fraction of the price you find from major design retailers.
Please very carefully consider your window appearances....nothing makes a house look inadvertently cheap than poor window selection. Vinyl windows are wonderfully energy efficient, but poor design choices on panes/mullions/color of window can otherwise ruin a decent looking facade. Take the time & bother to get actual color samples of all non-painted colored trim (ie, vinyl or precoated soffit & fascia, garage door, window surrounds)....all shades of beige do not “match”, LOL. Most builders will not provide any color guidance, but merely put the choices before you....get actual samples of the brick & lay all of this stuff out in sunlight. My neighborhood is full of nice, spacious, not cheap houses with 72 competing shades of beige trim...it can look horrible.
Light fixtures can be ridiculously expensive. Go someplace like Pine Grove in Covington with a huge selection, or do some internet comparison shopping. Similar looks are often available at a fraction of the price you find from major design retailers.
Please very carefully consider your window appearances....nothing makes a house look inadvertently cheap than poor window selection. Vinyl windows are wonderfully energy efficient, but poor design choices on panes/mullions/color of window can otherwise ruin a decent looking facade. Take the time & bother to get actual color samples of all non-painted colored trim (ie, vinyl or precoated soffit & fascia, garage door, window surrounds)....all shades of beige do not “match”, LOL. Most builders will not provide any color guidance, but merely put the choices before you....get actual samples of the brick & lay all of this stuff out in sunlight. My neighborhood is full of nice, spacious, not cheap houses with 72 competing shades of beige trim...it can look horrible.
Posted on 5/11/18 at 9:01 am to hungryone
quote:
Light fixtures can be ridiculously expensive. Go someplace like Pine Grove in Covington with a huge selection, or do some internet comparison shopping. Similar looks are often available at a fraction of the price you find from major design retailers.
This is fine, just be aware that selections made outside the vendors used by builder may not be warranted and may not be installed by his subcontractors. Any issues with vendor supplied materials is a phone call away, whereas that eBay user from China who saved you $200 on a chandelier is long gone.
Posted on 5/11/18 at 11:45 am to ItNeverRains
I didn’t mean discount on eBay, I meant not choosing some overpriced foolishness from Pottery Barn or DWR when a place like Pine Grove has equivalent looks at non-retail prices. So many ppl get fixated on a “look”.
Posted on 5/12/18 at 4:22 pm to BlueChips
I build homes for people with fixed pricing and as others eluded to, that is the best way to be sure not to have hidden overages. Some things will be variable, mainly site costs. So a builder can let you know exactly what a home will cost, but it will be difficult to know exactly what your land prep costs are exactly until it is done. We give estimates and breakdown what each thing should cost. If a customer is very budget fixed, we will do site prep for them and then finish picking finishes, like custom showers, based on what they can afford.
Things to expect,
1. How much it costs and understanding how banking works for loans on houses to be built. The financing end can get confusing with closings and PMI. Work with someone who does new builds not a bank that does like 2 a year. Things like downpayments can vary wildly based on bank and builder and their knowledge and offerings.
2. Timetable for being ready for construction can take a few months. The planning phase is usually longer than what people expect. The building can be the easy part of it is all planned well, but it takes time.
3. My business hires an interior designer to help people pick finishes and colors. Regardless of who or how you go about building, I would recommend to spend a little money on professional interior and exterior design.
This is advice for getting started. In you need help or advice, let me know.
Things to expect,
1. How much it costs and understanding how banking works for loans on houses to be built. The financing end can get confusing with closings and PMI. Work with someone who does new builds not a bank that does like 2 a year. Things like downpayments can vary wildly based on bank and builder and their knowledge and offerings.
2. Timetable for being ready for construction can take a few months. The planning phase is usually longer than what people expect. The building can be the easy part of it is all planned well, but it takes time.
3. My business hires an interior designer to help people pick finishes and colors. Regardless of who or how you go about building, I would recommend to spend a little money on professional interior and exterior design.
This is advice for getting started. In you need help or advice, let me know.
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