The Real Estate Encyclopedia
Once I Interview Builders, How Do I Make the Final Selection?
Category - Home Ownership Questions - Building Your Home FAQ's
Once you have talked to several builders and you are ready to select the final candidate, you need to share a copy of your blueprint and plans with the builder. Each builder will then create a detailed cost estimate. At this stage, you will need to have an idea of the materials you prefer for the construction of your home (exterior could be 4-sided brick, 2-sided brick, brick front, hardy plank, siding. Define whether you want granite countertops in the kitchen and bathrooms, etc.) Ask the builder to let you know about any allowances included in the proposal covering fixtures, paint, countertops, appliances, etc. Be aware that any upgrades to the builder’s allowances will add to the building cost.

Make sure each builder receives the exact same information on the home you intend to build, including any adjustments you may have in mind (finishing a basement, expanding the master bedroom, including another closet in a bedroom, etc.) You must be able to compare apples to apples when making your choice. Be sure the proposals are as detailed as possible. Ask as many questions as necessary at this stage.

Once you receive your proposals, compare them to the median and average price per square foot of floor area for new homes by location. A search of the National Association of Home Builders website might be helpful when conducting this search, in advance of receiving the proposals. The more homework you do, the better prepared you will be to assess the actual investment the home will require.
 
Category(s)
Home Ownership Questions - Building Your Home FAQ's
[edit]
Home   |   About Us   |   Contact Us   |   Patrons   |   FAQ's   |   Site Map
© 2008 - All Rights Reserved.
Thank you for visiting Real Estate Wiki - the leading dictionary, directory, encyclopedia and glossary for the real estate and mortgage industries .