At this writing, the housing market is absolutely crazy – and finding a resale home in the area you want is becoming trickier than ever. Did you ever consider finding a piece of land and opting for a new construction project? There are many benefits to building a home for you and your family. However, to make the best decision, you need to have as much information as possible. Here are some essential tips to get you started.
First, there’s a significant difference between building new with a production or tract home builder – one who constructs complete new community developments – and a custom builder who works with an architect to build a custom home on a piece of vacant land. Production builders allow you to choose a buildable lot and select customizations within their main home build layout. The new home developments constructed through a production builder typically offer smaller lots and homeowners associations but can include many amenities and cheaper builds. Buying pre-construction in a new home community is a relatively quick and easy route to having a new home built for you.
In contrast, custom builders can create whatever your dream home is. However, the entire project may cost you more, as you typically need to obtain vacant land, and the project does not benefit from economies of scale.
The Lowest Price isn’t Always the Best: It’s not cheap to have a house built. Once you see the offers provided to you by the architects, you may be overwhelmed and tempted to accept the lowest number. However, you first need to thoroughly look over each quote’s line items to see what they all include (and, more importantly, what they’ve left out). You also want to know that you can trust the builder you are working with to be providing a fair price and quality work. When you are confident in your builder, it takes a lot of the stress off of you. In addition, you can request references for each builder from similar projects they’ve completed and look at other communities built by the same developers.
Don’t Get Caught in a One-Sided Contract: Before proceeding with a home builder, closely review the contract together. The agreement will lay out every aspect of the project’s scope, such as scheduling estimates, projected final costs, material details, and more. In addition, there should be clearly defined terms regarding who is responsible for schedule changes, material changes, and any unforeseen expenses. If you’re able, hire a lawyer to review the contract and assure you that your needs are being met and you aren’t being taken advantage of. Even small areas of ambiguity in the contract can lead to expensive issues down the line.
Don’t Forget the HVAC: It’s easy to get caught up in the more visible and exciting parts of your home, such as the layout or high-end materials for your bathroom. However, having a good HVAC system that is properly installed is crucial to a happy, healthy, long-lasting home. Of course, in Florida, the HVAC is not going to be overlooked – however, when building new, you can decide which areas of the home should be under air, and even consider if a home generator is worth the investment to protect your home in the event of a power outage. You will want to make sure you call an A/C specialist to do the install, as if your system isn’t working as intended or was not installed correctly, this could lead to damaging moisture and mold. It’s a good idea to have your builder walk you through the HVAC system and how it will function in each room.
Be Prepared for Changes: Even the most carefully planned projects encounter unexpected problems. Plan for unforeseen costs by padding your spending budget, and know what items you will be responsible for versus your builder. Have an idea of what to expect if your home is not completed by the estimated closing date. If a certain material you set your eye on isn’t going to end up working, have a couple of backup options you’re willing to use instead.
If you have a tired, older home but don’t want to face the crazy real estate market, why not renovate? You can experience all of the excitement of a new bathroom, kitchen or outdoor space without having to pack boxes and hire a moving van. If a remodeling project is in your near future, call West Coast Design Build Florida. We’ll give you all of the benefits of “new”, in the comfort of your own home.
