CHOOSING THE RIGHT CONTRACTOR FOR YOUR NEW HOME

Building a new custom home should be your American Dream come true.  Choosing the right Builder or Contractor is extremely important in order to avoid a Nightmare on "Your Street"!

I cannot over emphasize the importance of choosing the right Builder or Renovation Contractor to build or renovation your new home.  Often people consider the idea of building or renovating their own home and more often than not, it doesn't end well, if it ever ends at all!

Hiring the right builder or contractor can save you a lot of time, money and aggravation, it can also be the difference between your American Dream and a Nightmare on "Your Street".

From my professional experience both as a Builder and Lender, not having the right contractor is the most consistent source of problems for new home owners.

Beautiful Craftsman Style Home by RHK Builders

Professional Builders and Contractors have the relationships and resources to insure your new home is built without issue, in accordance to County and State Building Codes, on time and within budget.  They can truly make your dreams come true.  

I have seen and experienced first hand, the problems some clients have had which have ranged from major time delays in the construction process as a result of materials not being ordered on time, getting the subcontractors to show up, getting them to come back to finish work, cost overruns, as well as issues with State and Local building inspections to name a few.  I actually had one client that was so excited to build their new home, they failed to verify the location of the house with regard to the established setback lines and as a result had the project put on hold for over 6 months while they had to apply for a variance of code to be able continue and not have to tear their house down and start over from scratch.  

They ended up begin very lucky in obtaining the required variance to code, they spent over $10,000 in legal fees to do so.  Their were definitely lucky when compared to having to tear down a 1/2 finished home.. You definitely want to hire a reputable builder or contractor to avoid these types of issues.

The benefits of having a great Builder or Contractor can by far outweigh the costs.  In fact some builders, because of their buying power can actually save you a lot of money when you compare what they can purchase materials for vs. what they might cost you.  They also have the resources and lines of credit to be able to purchase the materials and carry the costs during construction while awaiting funding from your Construction Loan as banks typically do not provide funding for materials until after they have been installed and become a part of your new home.  They also have relationships with subcontractors that depend upon them for their livelihood which makes it much easier for them to manage the production schedule.

Keeping the construction of your new home on schedule can also save you a lot of money in interest as well.  A house sitting for long periods of time can cost a lot of extra money in mortgage interest.  Plus it is also nice to have one person to work with, especially if a problem arises, It is your builder's job to cure the problem, deal with the subcontractors and get you into your new dream home.  All you should need to do is have fun designing it, pick out the decor and imagine the fond memories you and your family will have for year to come.

As with any relationship, there are benefits.  When building your new dream home, having the right builder is extremely important,  I always tell my clients it's being married.  Your are going to work very closely, almost the equivalent of living together for the next 6 to 12 months while your new home is being built.  Even after it's completed and you have moved in to enjoy it, your builder is like your favorite family member or best friend, knowing and trusting that they will always be there should you ever need them adds a great piece of mind for years to come.

It is always important to check references, talk to your lender about previous clients experience and most importantly, as with any new friendship make sure your feel comfortable.