Preparing to build your new dream home, can be an exciting time, no doubt. However, a process that is by no means cheap. In this time of excitement, there is no need to rush into any situation that can make this more costly. Therefore, we will steer you clear of the more common oversights made when people choose build a new house. Consequently, what follows is part one of our two-part series listing Mistakes to Avoid When Building a Home.
1) Hire a General Contractor…You Are NOT Qualified for This!
We can chalk this one up to the excitement factor that was spoken of above, I suppose. Regardless, this is one of the most common Mistakes to Avoid When Building a Home. It’s plain and simple, it’s cut and dry, and there is no in-between! The general contractor that is hired to supervise and oversee the construction of your home is qualified for this. Just to be clear, in most cases, you are not.
The importance of the previous statement calls for it to be spoken clearly. A general contractor’s duties include (but are not necessarily limited to) identifying and sourcing out sub-contractors. They are also responsible for gathering bids for the various parts of the job. Thus, hiring a reputable contractor will be more likely to deliver the quality results that you want when building a new home. To explain, when a sub-contractor is hired out by a known, respected general contractor for your job, they can create an opportunity to get more work in the future by delivering quality work in a timely fashion. On the contrary, if you are personally “the contractor,” they can be almost sure they will never work with you again. Thus, they are much more likely to not pay attention to detail and quality or stick to budgets and scheduled completion times.
To summarize, you may look at hiring a general contractor as an unnecessary expense. However, not hiring one, we feel is the first of our Mistakes to Avoid When Building a New Home.
2) There is a Difference Between Spending Wisely and Being Cheap…Now is NOT the Time to Be Cheap!!!
There are many areas and aspects of life where saving a few bucks is a commendable move. When making the major life decisions involving the building of your new home, is not one of these aspects or areas. Thus, looking to be frugal when sourcing out bids for your home build for sure falls among our Mistakes to Avoid When Building a New Home.
This mistake is one that is understandably made. Due to the process being expensive, looking to save in certain spots may seem a wise idea. Rest assured that builders bidding to build your home are familiar with this method of thinking from customers, too. This can lead to them offering a lower price and a faster schedule for completion in their bidding. However, there is a fair chance that they used the lower price and time table to secure the work.
What will follow from there, is anyone’s guess…and again, “guessing,” will not guarantee you anything. It will, however, place you securely among our list of Mistakes to Avoid When Building a New Home.
3) Be Sure to Have Your Own Back Covered…Because No One Else Will!
Building a new home is unquestionably one of the biggest investments you will make in this lifetime. In this process, there are many opportunities for a savvier and more experienced party involved to take advantage of your inexperience. Therefore, our third entry among our Mistakes to Avoid When Building a New Home is to be actively aware of all steps in the building process and oversee every single detail. In other words, COVER YOUR OWN BACK, every step of the way!
Our first suggestion here is to become familiar with any and all legal documents in the building process. Likewise, it is advisable to read and go over any documents with a lawyer. This includes a copy of the contractor or subcontractor’s insurance policies. (To make sure you are not liable for an on-site injury!) While you are with the attorney, it also is wise to go over the agreed upon floorplan and home features you have agreed upon. Once the construction process begins, changes to the plans can prove very costly.
Read up on the documentation, discuss and share this and all paperwork with a lawyer to be sure you understand exactly what they read and what is expected in the building process.
4) Get What You’ve Got Coming to You! Always Ask About any Incentives Being Offered!
We mentioned above that in the case of an experienced contractor, they may take advantage of your inexperience or lack of knowledge in some areas of this process. These same contractors and builders are many times offering incentives and deals if they are selected for the job of building your home. The next of our Mistakes to Avoid when Building a New Home is to make sure you ask and are aware of these incentives. If they are giving you something (or in the case of price taking something off!) you want to be aware of it and “get what is yours!”
Usually, the home builder’s incentives for you selecting them to build your house are pretty valuable. Some examples of the incentives that may be offered include money off of the closing costs or overall home prices. Likewise, they sometimes will give upgraded features, appliances or amenities.
Regardless, when incentives are offered they likely something that you will want. After all, how often are you offered something of significant value for free?
Location, Builders, Budgets and More to Come in Part Two
In our next post we will look at our final four Mistakes to Avoid When Building a New Home. There we will discuss the importance of taking your location into consideration. Likewise, look at the budget you have for building and selling your previous home. In addition we will touch on what is the “right” or “wrong” builder.
In conclusion, the process of building a home is a costly one. You don’t need to make it become even costlier. However, if you keep in mind these Mistakes You Want to Avoid When Building a New Home you can save yourself a headache. To see the floor plans currently available here at the Belmont Lake Preserve golf community, visit the “New Homes” section at belmontlakepreserve.com.