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What You Should Know Before Signing a Contract with Your Home Builder


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Before signing a contract to build your dream home, asking the builder questions is essential. Here are some of the most important ones to consider: Does your contract include a cost escalation clause? It can be an issue if lumber prices rise or unexpected delays cause additional costs.

How does one go about getting a building permit?

Building your dream home can quickly become a nightmare when expectations are not aligned. Getting into a contract with a builder who doesn’t deliver on cabinetry details and upgrades or who over-sells standard features to lure you in can cost you time, money, and stress you don’t need. Asking your builder how long they’ve been in business can give you a sense of their experience and reputation. Choosing an experienced company from a website will likely ensure you get better service, as they know what to expect and have learned from past experiences. Understanding the process for obtaining a permit will also help you to plan and budget accordingly. It’s important to know who will be your point of contact, how often it will be available to answer questions, and how long it will take to return correspondence.

What is your warranty policy?

Even with the best builders, it’s almost always a guarantee that complications will arise during the custom home-building process. So, asking your builder about their warranty policy and how they handle these situations is essential. A warranty is a promise that something will work for a certain period or that the company will fix it. A warranty policy sets out a company’s commitments in writing. State laws typically create implied warranties that automatically protect buyers, but companies can negate those rights by conspicuously disclaiming them. Some state law requires that a limited warranty be written into a sales contract for single-family homes and multi-unit residential buildings five stories tall or less on land you didn’t own before construction. However, a waiver signed before closing can waive this in writing.

How long will it take to build my home?

It is essential to ask the builder about the estimated time to complete your home. It will help you to prepare your budget and mortgage loan application. Also, you can plan for things like landscaping, finishing the basement, fencing, etc. Ask your builder if they can provide you with contact details for past clients. It is an excellent way to learn about their building experience, from the timelines they gave to the quality of the construction. Also, ask the builder about their process for dealing with any complications during construction. It is guaranteed that something will go wrong at some stage, and you want to be sure your builder can handle it effectively.

How long will it take to complete my home?

The timeframe for building a new home is one of the most significant decisions you will make when working with a builder. A competent builder can give you a ballpark estimate in a few months. If a builder cannot show you a concrete timeframe, ask them to explain their process and how they handle complications that may arise during construction. It’s essential to understand your options if your home is delayed, and your sales contract should clearly define excusable and inexcusable delays. It’s also a good idea to drive through communities and subdivisions your potential homebuilder has worked on and speak to residents about their experience with the builder. It will help you gauge past clients’ satisfaction with the builder’s work and communication style.

A professional builder should give you a clear timeframe for when they expect your home to be completed and a contingency plan in case of any delays. It may be worth looking elsewhere if they still need to or have a set date. Ask your builder what standard features are included in their contractor fees, such as fencing, finished basements, decks, and garages. This way, you can avoid unexpected expenses that strain your budget. Also, ask your builder for contact information for past clients and speak with them about their experience working with the company, including timelines and communication. You can also ask if they have any local projects still in progress and drive by them to see what their work looks like. Read more exciting articles on Smartmetaclicks


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