Don’t let the home of your dreams…
...become a living nightmare
Home ownership is an exciting part of any person’s life. It’s where families are raised, holidays are celebrated, meals are shared and a great deal of time – and pride – is invested.
Because of all the emotions and memories that are tied-to a person’s home, many decide to have a custom home of their own built, or have major renovations done to an existing house, so that they can live in a home that features their own designs and ideas. It becomes the best way to create their personal abode.
If you’re beginning to seriously consider having a custom home of your own built, or having major renovation work done, there are some very important things to consider as you begin you’re planning. Without the proper perspective, information and resources, the home of your dreams could become a living nightmare.
Set a Budget
This is an obvious first step, but some people do enter into the process of building or renovating a home without being completely aware of the costs associated with their project, and how those costs can vary. For example, the price of materials can fluctuate based on market conditions, which makes it important to lock-in prices and orders early. That way, a jump in lumber prices for example, won’t eat away at your budget. Be ready to commit to at least $250,000 at the outset, and as a way to achieve your vision for your new home.
Take Great Care in Selecting Your Builder
Building or renovating a home will be one of the biggest decisions a person will make in their lifetime. Needless to say, it’s critical that you take the time to identify a number of credible and respected builders to interview. During the interview process, take the time to check their resources and financial capacity, understand their warranties (see below), speak to their references and go to one of their jobsites and see their work.
Ask to review a written contract, so you can see what they are willing to “put in writing”, and how clearly and concisely things are stated. Go to the added step of checking their credentials with the Home Builders Association of Metro Denver and the Better Business Bureau. The City of Denver can also help you to make sure all of their licenses are up to date. Once you’ve performed your due diligence, make a decision based on the company that best meets your criteria and has the best qualifications for the work you want done.
Understand Written Warranties
Unfortunately, some people enter into a contract with a builder without fully understanding the warranties involved. They may be told that work is guaranteed by the company itself, for an extended period of time, but are left holding-the-bag if the builder goes out of business. One of the ways to make sure this doesn’t happen is with a third party, 2-10 Home Buyers Warranty. This nationally accepted warranty provides buyers with a risk retention company that will have inspections of the home performed during and after construction, and will mediate any differences that may arise. Credible builders and knowledgeable buyers all work well together with this third party source.
Make “Value Engineering” Part of the Job
The best home builders will take the time during the design and construction process to help you find ways to save money, and still deliver the home of your dreams. For example, on a $250,000 project a good, value-minded builder or designer could save you 10–15 percent of the overall project costs by specifying the best value in building materials (such as windows and doors, siding, brick, roofing material, etc.). By “value engineering” a home before and during the construction process, a builder can save their customer hundreds, if not thousands of dollars.
There are many, many things to take into account when custom building or renovating a home. The best builders will welcome the opportunity to become your partner throughout the process, and help you to create your very happy home.
Jackson Design Build will be hosting an “Introduction to Remodeling and Custom Home Building” on October 28 and 29 at the Home Builders Association of Metro Denver. More information is available by calling 303-835-0630