The underlying question one should ask when trying to decide between these three new construction options is quite simple: What do you want? A Spec House – (Short for Speculative House) is a house that builder builds with the hopes that someone will buy it once it’s complete. The builder owns the lot, the architectural plans and reports to no one but his bank and creditors. A builder takes on a risk whenever they build spec houses in that they could lose money if they can’t
This post has taken the longest time for me to sit down and compose. The experience I had with my General Contractor was so bad and traumatic that I didn’t know how or where to begin. The General Contractor is the most important piece of your project. Ethics, competency and honesty are all traits you want to make sure they possess. I, unfortunately, missed the mark on all three. That being said, there were some crucial decisions I made, mostly by accident, that saved me.
Being a conscientious professional in the service industry I am always asking myself “What else can I do for my clients?” What else can I do to better market a listing? What else can I do to improve the home buying process? What else…? And recently, the resounding answer to my questions seems to be that I need more resources and tools – and I need more time! I can either build tools and resources myself or save the time and energy and just share from another established br
As I mentioned in the post about financing, you’ll need to put together your budget to submit to your lender as part of the approval process for your loan. You do not need the budget for pre-approval but will need it to get the project approved. At the bottom of this page is a link to a sample budget for a 2 story, 1600 sq. ft. house. This budget most likely will be put together by your builder but you will still probably be heavily involved with the process. Many builders