As you shop for home financing, ask the financing institution for a referral to a contractor that has quality reference(s).
Financing institutions will inspect the home construction several times during the construction process. Their inspector will verify the contractor has delivered and built the home based on the original drawings and specifications. Once they have verified compliance, they will release and issue the next check which is drawn from your loan amount.
Bank's will have preferred contractors that have caused fewer or no problems for them during the construction process. It's a WIN-WIN when the lender shares their referrals with you for your review.
Tuesday, June 16, 2009
Friday, June 12, 2009
Review Builder's Real Homes for Quality
Recent References
Request and review your builder's best quality design references. Ask to see 1-3 homes that the builder has recently completed. These home references should be similar in cost and design to the house construction you can afford to build.
Older References
Next, ask your builder to drive you past the homes the builder has built over the last five, seven or ten years. Reviewing the home exterior may demonstrate the durability and quality of the builder's work.
Veteran quality builders always have a list of quality built homes they built over the last five, ten or more years ago. Consider this a great place to start when reviewing your builders' references.
Builders with less time in the market, will need to demonstrate their experience for delivering durability by their quality materials or homeowner testimonies.
Remember, you're reviewing candidates (builders) to entrust with your investment. Your lender will conduct a final appraisal of the home prior to issuing you a loan. Only quality built homes will meet or exceed the appraisal while steadily accruing in value over the years.
Request and review your builder's best quality design references. Ask to see 1-3 homes that the builder has recently completed. These home references should be similar in cost and design to the house construction you can afford to build.
Older References
Next, ask your builder to drive you past the homes the builder has built over the last five, seven or ten years. Reviewing the home exterior may demonstrate the durability and quality of the builder's work.
Veteran quality builders always have a list of quality built homes they built over the last five, ten or more years ago. Consider this a great place to start when reviewing your builders' references.
Builders with less time in the market, will need to demonstrate their experience for delivering durability by their quality materials or homeowner testimonies.
Remember, you're reviewing candidates (builders) to entrust with your investment. Your lender will conduct a final appraisal of the home prior to issuing you a loan. Only quality built homes will meet or exceed the appraisal while steadily accruing in value over the years.
Wednesday, June 10, 2009
Choose a Home Builder-Contractor Based on Value
A house is an investment. So don't shop for a home builder-contractor like you're buying a car or TV. It may take 3-12 months to interview, qualify the builder's references and hire a contractor to entrust with your personal investment.
On average, it may take 12-24 months working with the contractor to define, design, finance and build your home. This person is going to be part of your life for a while. So find someone you feel comfortable sharing this ride.
The next few articles will highlight major points that you must review prior to choosing a home builder and signing a contract.
On average, it may take 12-24 months working with the contractor to define, design, finance and build your home. This person is going to be part of your life for a while. So find someone you feel comfortable sharing this ride.
The next few articles will highlight major points that you must review prior to choosing a home builder and signing a contract.
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