Building a home is a team process and it works best when everyone performs their roles well.
You will hear Glenn say that “in each field there are a lot of people in it and a few that are good at it.”
It starts with a talented architect who can stay on point with the size of your project based on your budget. Often an architect has to rain in the client’s desires to align them with the client’s budget.
It does no one any good if you hand a builder a set of plans that you love and have spent a great deal of time and money to develop only to learn that the project is going to cost a great deal more than you had planned or been told.
When building a new home or addition, you are going to spend a lot of time with your builder and in our case, will become good friends through the process. Make sure your personalities mesh well together.
This is going to be the biggest investment of your life so feel free to ask any questions of your potential builder and call his references. Don’t be reluctant to ask questions. Glenn would always prefer you ask questions about your project or the building process rather than have any doubts or confusion.
Visit your builder’s office and meet with their team. Review their systems. Go over their billing and accounting system. How will they account for your job costs so you feel confident that they are indeed yours?
- Will you provide me with a list of decisions we need to make with due dates?
- Do you provide a construction schedule?
- Can you recommend an interior designer? Do you have one in house? How would that work?
Develop A Contract:
There are different types of contracts for construction. In most cases, the options are a Cost Plus Contract or a Fixed Price Contract. There are pros and cons to each. If you do not have a completed set of plans with a set of specifications, you cannot enter into a Fixed Price Contract. The builder will expect a higher profit for a fixed price contract since he assumes more risk by guaranteeing the price. A Cost Plus Contract is an open book system where you see the builder’s records of all the costs. A profit percentage, which is agreed upon at the outset and overhead is applied to the total.
We could go on and on. Keep an eye out for our posts with additional details. Remember, no question is too big or too small!