To Consider Before Building
This is the biggest investment of your life. Why wouldn’t you do your diligent research and leg work? Did you know that the majority of people do more research on a vehicle than they do on a builder before purchasing? That’s crazy! If you are investing with a company on the stock market and you are throwing in $200,000, wouldn’t you do as much research as possible on them? I know I sure would! You have to think about your home as an investment that you are sticking a lifetime of savings and most likely future financing into. DO YOUR RESEARCH! Reading this article is the first step in doing your research. I will lay out many of the important things to do before choosing your builder or contractor.
First of all, I urge each and every consumer to use as many resources as possible when considering a builder. In this day and age, there is a wealth of information available to you. Take every piece of information into consideration but do not use just one resource as your only tool to choose your builder.
Here are a few things to do before choosing a builder:
- Attend home shows and other open house events.
- Come up with a list of potential builders
- Ask them what types of projects they have worked on in the past
- Find out how long they have been in business
- Check out the Better Business Bureau to see if they have any unresolved issues. Again, use this as one resource and do not base your decision solely on the BBB. If they have many issues, it might be a cause for concern but businesses can’t please everyone and there is bound to be a dispute somewhere along the line.
- Call references
- Go look at homes the builder has built.
- Bring along something to write with and make a list of things you liked and didn’t like about their craftsmanship.
- Talk to the homeowner and have a list of important questions to ask before viewing the home.
- Find out if the builder is a registered member of a professional trade association. If so, give that organization a call to find out what benefits the consumer receives for having their builder as a member of that association.
- Some states now accredit builders and certify them in order for them to pull building permits. Find out if your state requires this and if your builder has received their accreditation. For more information, check out your states Department of Commerce.
- Ask about warranties/guarantees and find out if the guarantee is insurance-backed in-case they go out of business. No one likes to think about their business failing, but in this day and age, it is a reality.
- Ask about what types of insurance they have and if you can have something in writing with that information on it.
- What type of time-line do they provide and what are you entitled to if they do not meet that time-line?
- Value or Quality? Can you have both? Sure! Ask about pricing but do not base your decision solely on pricing. Just because one builder is less expensive doesn’t mean they do better work for less. On the flip side, just because it’s more expensive doesn’t always mean that builder does better work.
- Get quotes from at least 3 builders. Try to make them fixed quotes and not estimates, which are subject to change. Make sure all quotes have matching specifications.
- Do not always choose the lowest bidder. To reference the stock market again, that is like choosing a penny stock over a well established business and reputable business. It doesn’t make sense.
- Finally, make sure you get everything in writing once you have made your decision. Even some of the smallest details. It sounds obvious but it can save a lot of headaches in the end for both you and your builder.
Do your homework and spend a lot of time researching your potential builders, taking advantage of a vast array of resources.
The last thing any business wants is an unhappy consumer, and when it comes down to it, ultimately it is the consumer’s responsibility to do their research to make sure they choose the builder that will make sure that doesn’t happen. Use the suggestions above to guide you as your begin your journey.
Be smart, use every resource available, and most all…I wish you the best in your quest to build your dream home!
Corey Reyment is an expert on small business consulting and is the co-owner and founder of ReyMount Technologies, LLC. His business hosts a new web site available for residents in Northeastern Wisconsin to rate their builders or remodelers. The site will be expanding in the near future to address the needs of the entire U.S. This site allows people considering home building to use his site as one of many resources to consider when choosing a builder. The website is called http://LocalBuilderRatings.com and is accepting ratings from previous homeowners or people who have recently remodeled their existing homes. For those individuals who rate their previous builders, they are entered to win local services. Currently, Proscape Lawncare and Landscaping is offering $300 in service credit to 1 lucky winner of their next drawing.
As for ReyMount Technologies, LLC, they are involved in web design, logo and brand development, and production of marketing materials. Along with that, they do consulting with start up or small businesses to help bring them into the 21st century and sky rocket their business. Feel free to contact Corey on his website http://LocalBuilderRatings.com .
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