Homeowners will tell you that the choice of a builder either made their dream home become reality, or mad their dream become a nightmare!
You must choose a builder that meets several criteria. Selecting a builder is an important decision - one you will have to live with for a long time. Take the process of selecting a builder seriously. There are many different factors that will come into play, be certain that you have considered everything that might become important to you later in the process.
First, select a builder you are comfortable with, one who understands your tastes and needs and with whom you can communicate easily. Communications is the key since you will be doing lots of communicating with your builder over a significant period of time.
It is very important to develop a good working relationship with the builder to get through the issues and problems that invariably arise during construction
In general, if you are more specific in defining your dream home, then the more accurate your estimated costs will be and the fewer costly change orders will be necessary. Carefully review plans and specifications to minimize change orders.
Analyze the plans against your lifestyle, budget and convenience needs. Get a quote from several builders. The more detail you have, the more sure you can be that you are comparing ‘apples to apples’.
Start with the base home price and standard specifications. Vagueness and relying on verbal information and pricing can be an extreme source of future frustration and disappointment.
After construction has begun change orders will often be necessary or desirable. Insist that each change order be documented on paper with the cost and signed by both parties. This will eliminate many of the verbal mis-communications or misunderstandings between the builder and customer.
Most builders require progress payments during construction. Insist that all construction draws to be approved by you
This is your guarantee that the builder does not get the draw until the work meets with your approval.
Your lender should make out the progress payments (‘draw checks’) to both you and the builder. This gives you leverage over the construction process.