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Posted: 1/15/2017 11:43:19 PM EDT
Looking for a bigger place to live.
I have an option to move closer to work and buy a decent 3400sf house in a city. 900sf unfinished basement, 1 acre and a swimming pool... House is built in 1980s, needs new kitchen.
At the same time, we have an option to build a house if we are willing to go with the hassle on a 5 acre wooded parcel that we own. This house would be 2600 sf.(not including 1300sf unfinished basement) All new stuff, nice kitchen and a gun room with a vault door. However I have to drive 30 min to work and I have to deal with the construction process. (I can use land as collateral). I would be able to go outside, shoot, and hunt.

I am really undecided at this point... I have never dealt with new house construction and I am afraid that it is going to be a nightmare.

Anyone with any experience. What should I DO?
Link Posted: 1/15/2017 11:45:10 PM EDT
[#1]
I've done it. Build. You get what you want.
Link Posted: 1/15/2017 11:46:37 PM EDT
[#2]
just build bro.   for the minimal inconvenience now you'll be loving it down the road.   

i can tell you id love to be in your shoes right now ...  i got some time before i make my move.  

ETA: I'm saying this bc before we bought our house we have now i had the opportunity to build and was scared off... wish i would have nutted up and done it.  regret it every day. 
Link Posted: 1/15/2017 11:48:20 PM EDT
[#3]
I am a Real Estate Broker and my company specializes in representing construction companies and developers.
  If you want any specific information just ask or send me a contact number etc.
     There are pros and cons to both sides and I've personally done both in my Pre Realtor days.


Personally I would build
Link Posted: 1/15/2017 11:49:22 PM EDT
[#4]
We used a custom builder Aug 2014 - Apr 2015 for our house. We're very pleased with the result and are glad we did it.
It was a lot of meetings and reviews, but in the end were glad we did it.
Would I do it again? Depends...Yes because I know a lot of things I would have wanted us to do or style differently. No because of the time required for so many details.
Link Posted: 1/15/2017 11:49:45 PM EDT
[#5]
I did a duplex years back..I enjoyed it...if you do, choose a quality builder and don't settle on anything...builders grade isn't the best, but if you go quality on the foundation, the insulation, the roofing and the mechanicals everything else can be dealt with....Plan wise, I liked the footprint of the builders plan but not the layout(wet walls on outside walls), so with the builders permission I redrew what I wanted...he liked my revisions so much it became his standard build....
Link Posted: 1/15/2017 11:49:47 PM EDT
[#6]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I've done it. Build. You get what you want.
View Quote


This is true. Just finished building and moved in this past week. It's a huge PITA but worth it in the end.
Link Posted: 1/15/2017 11:50:37 PM EDT
[#7]
If you build, go to the work site daily.
Link Posted: 1/15/2017 11:52:17 PM EDT
[#8]
Build. It's sucks at the time, but when it's finished, it's finished.
With a 30 year old house, you fix what you think needs fixing, but while you are doing repairs, you find more problems that need to be fixed. Always have another project to do.  Something breaks, it's a never ending cycle. So any  perceived money that may be saved on buying a fixer upper will quickly be negated on repairs and living in a constant construction zone.
Link Posted: 1/15/2017 11:58:37 PM EDT
[#9]
If you're going to do it, do it right. With enough beds and bath for future grandkids, or a design that will let a crippled old you mosey about easier. We're building in 8 years and it will be our second and forever home.

My two musts are a 3000 sq ft garage and a firepole, so I can go from up to down in the blink of an eye.
Link Posted: 1/15/2017 11:58:59 PM EDT
[#10]
Building a house is not that bad at all.  I say build just based on the description of the lot.
Link Posted: 1/16/2017 12:07:11 AM EDT
[#11]
Build, but understand that it's an adversarial process.  They will fuck up (try to cheap out etc...) and you will have to hold their feet to the fire to unfuck it.  As long as you recognize this from the git go, it ain't too bad.
Link Posted: 1/16/2017 12:16:02 AM EDT
[#12]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Build, but understand that it's an adversarial process.  They will fuck up (try to cheap out etc...) and you will have to hold their feet to the fire to unfuck it.  As long as you recognize this from the git go, it ain't too bad.
View Quote


This man speaks the truth.  You want to be fair but you have to be firm every step of the way.  You also have to SHOW UP constantly so that things don't get going so far in the wrong direction that the fix becomes worse than the problem.

You have to know enough about every step of the process as you go so that you can make sure things are staying on track.  That may mean swallowing your pride and asking lots of stupid questions and then being smart enough to know a good answer from a bullshit answer.

Even better yet is to find a friend or a family member who has been there and done that to peek over your shoulder as you go.  Learn from others mistakes rather than your own.
Link Posted: 1/16/2017 12:16:28 AM EDT
[#13]
Build, if you can afford to have it done right, I guess.
Never had one built, but I'm guessing it is a lot more $$$$$$$$.
I'm shocked at the garbage builds around here, new or old.
Not even worth having.
Link Posted: 1/16/2017 12:18:08 AM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Build, but understand that it's an adversarial process.  They will fuck up (try to cheap out etc...) and you will have to hold their feet to the fire to unfuck it.  As long as you recognize this from the git go, it ain't too bad.
View Quote


This is a common misconception, some builders are crooks and liars but you should spend time vetting them up front to avoid that.

If literally everyone you deal with is difficult and an asshole you are probably the problem. Just a casual observation.
Link Posted: 1/16/2017 12:22:35 AM EDT
[#15]
Lifestyle choice here.
Turn key, quick commute, but cookie cutter lifestyle vs Build to suit, longer commute but privacy and more of an outdoor lifestyle.

If you build go with the highest basement walls your budget will allow.
Link Posted: 1/16/2017 12:36:20 AM EDT
[#16]
Build.
Link Posted: 1/16/2017 12:41:28 AM EDT
[#17]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


This is a common misconception, some builders are crooks and liars but you should spend time vetting them up front to avoid that.

If literally everyone you deal with is difficult and an asshole you are probably the problem. Just a casual observation.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Build, but understand that it's an adversarial process.  They will fuck up (try to cheap out etc...) and you will have to hold their feet to the fire to unfuck it.  As long as you recognize this from the git go, it ain't too bad.


This is a common misconception, some builders are crooks and liars but you should spend time vetting them up front to avoid that.

If literally everyone you deal with is difficult and an asshole you are probably the problem. Just a casual observation.


I'm not calling anyone a crook, a liar, difficult, or an asshole, it usually boils down to miscommunication at any level (future owner-general-sub-employee-whoever), poorly expressed expectations, difference of opinion, the list goes on.  Even the friendliest, most professional general contractors and subs are going to make the occasional mistake amongst the thousands of steps required to build a house, especially when they are working on multiple houses for multiple GCs, like every sub ever.  

The only person who can make sure you get what you want is you.
Link Posted: 1/16/2017 12:53:16 AM EDT
[#18]
Built my house in 2000 and had an addition done bigger than my house. Once you've built the home you want it's hard to settle for less.
Link Posted: 1/16/2017 1:08:02 AM EDT
[#19]
Gun vault, go outside hunt, shoot, and you are debating this?

WTF, go build.
Link Posted: 1/16/2017 1:10:55 AM EDT
[#20]
Anyone have a link to that long ass GD thread on "new construction tips" for OP?

Can't find it in my bookmarks.
Link Posted: 1/16/2017 1:19:13 AM EDT
[#21]
Definitely build.

Much better than the Keto diet for weight loss

Do a TON of research before you even start to break ground.  Building Science is real -- it's just a pain to convince most contractors and subs this.  Once you make up your mind... come back here and start a new thread.  You will get 20 pages of GREAT (mostly) information that you would have never thought of otherwise.
Link Posted: 1/16/2017 1:21:30 AM EDT
[#22]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Anyone have a link to that long ass GD thread on "new construction tips" for OP?

Can't find it in my bookmarks.
View Quote


which one?


This is the one I bookmarked when I was almost through designing my current house (which I plan to die in)

http://www.ar15.com/forums/t_1_5/1577030_-ARCHIVED-THREAD----Building-a-House---Special-Features-.html&page=9

http://www.ar15.com/forums/t_1_5/1577030_-ARCHIVED-THREAD----Building-a-House---Special-Features-.html&page=9
Link Posted: 1/16/2017 1:38:18 AM EDT
[#23]
 
I've never built but have added on to an existing house but I watched a close friend on mine build and made every mistake possible so I'll add what he SHOULD have done before building. He ended up doubling the cost of his house and it still wasn't finished when he ran out of money.

 Talk as much as possible with your builder before he starts. Find out what he sees as possible problems. Example: Dumbass friend picked a house based on looks and didn't realize it was a house designed without central air. The builder tried to tell him, friend didn't listen, halfway thru the project friend realized there was no duct work for central air. The house was a design for a cold climate that doesn't use air conditioning.

 Try to get your adjusrments in early. If you want a basement, tell the builder BEFORE he lays the foundation and puts up the walls. Yes, dumbass friend did that. He has more money than brains.

 Inspect the property on a regular basis, it's just part of the process. Dumbass would wait until the builder got home and call him wanting an update. GO to the property and do a regular walk thru.

  Don't let your wife give bizarre instructions that no one can follow. She told the builder that she wanted a grid of lights in the basement in the ceiling because she hated a dark basement. He tried to ask for clarification, she barks "you're the builder, you figure it out"...he installed a grid of 12 floodlights that operate on 220 volts. It's DAMN BRIGHT down there, like a nuclear blast. Of course she wasn't happy. She also wanted a bathroom down there, he asked for specifics, she said 'just stick a damn commode in the corner'...and he did. No walls, just plumbling for the commode in the room and the commode. It's a conversation piece. Of course they bad-mouth the builder but everyone that has been to the house can see who was really at fault.

 Please talk and listen to others that built and take their advice. I'm telling you what can happen if you don't get the best input and act like a bigshot. They ran out of money and had to finish the rest of their house. It's a 3800 sq. ft. trailer now. They half-assed the finishing and it shows badly. Please put in the time and learn.

 
Link Posted: 1/16/2017 1:52:55 AM EDT
[#24]
Quoted:
Looking for a bigger place to live.
I have an option to move closer to work and buy a decent 3400sf house in a city. 900sf unfinished basement, 1 acre and a swimming pool... House is built in 1980s, needs new kitchen.
At the same time, we have an option to build a house if we are willing to go with the hassle on a 5 acre wooded parcel that we own. This house would be 2600 sf.(not including 1300sf unfinished basement) All new stuff, nice kitchen and a gun room with a vault door. However I have to drive 30 min to work and I have to deal with the construction process. (I can use land as collateral). I would be able to go outside, shoot, and hunt.

I am really undecided at this point... I have never dealt with new house construction and I am afraid that it is going to be a nightmare.

Anyone with any experience. What should I DO?
View Quote


I assume the drive is 30 min longer both ways.... not sure how long your current drive is, adding on another hour per day sux... is there a possibility that the drive would get longer in the future due to more traffic in the area?
How far away from retirement are you?
Link Posted: 1/16/2017 1:54:36 AM EDT
[#25]
Build.I did.Do your homework on the builders.Look at homes that they have built.check out many builders.Plan.Have you & your wife write down what you both want & what you both don't want.WATCH your builder.I went down to the site EVERY day to check on things.I caught a lot of mistakes they had to fix before they could proceed.Don't put builders grade stuff in it from the start.(carpet.lighting,fixtures.tub/shower.cabinets) Don't over build.remember you have to heat & cool it.
Link Posted: 1/16/2017 1:56:41 AM EDT
[#26]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If you build, go to the work site daily.
View Quote


Especially after a storm.
Link Posted: 1/16/2017 1:57:26 AM EDT
[#27]
Build and shoot. living in town is for suckers.
Link Posted: 1/16/2017 2:00:54 AM EDT
[#28]
The better builders will have a spec book.  It will list out everything from foundation to finish out with a description including quality and/or allowance you have can use for choice.  Usually each room is separated out with wall texture, floor, cabinets, trim, fixtures, ect...  Something like "kitchen faucet - to choose / $300 allowance", "floor - wood, $4.35 per foot".  It seems tedious, but the more specific everything is, the better you'll be able to stick to your budget.  And there will be few problems with your builder over what you want and he says you can get.

I deal with a lot of builders.  Some friends of mine are building right now.  They picked a builder that is fairly new and had only built a few spec houses and none for a buyer.  They picked him because they really liked a plan that he had.  I told them they really needed to push the builder to use a spec book.  He didn't and they've had constant disagreements over the finish out.  "Oh, the price per square foot didn't include any underlayment or adhesive."  "The paint in the budget is for a medium grade, what you want is only in premium."  They'll be close to 20% over the original budget when they finish next month.  Even with a complete spec book, they probably would have been about the same end price, but there would have been a lot fewer disagreements and bad feelings.
Link Posted: 1/16/2017 2:26:05 AM EDT
[#29]
If you know what you want and can articulate what that is ( Builders can't read minds) have reasonable expectations about cost and except that every change order will create a delay then build .
    A good reputable contractor should have spec sheets and good customer service skills.   Find out if the GC your hiring is also managing the site or has a superintendent.
   And for the love of God make scheduled walk throughs. Don't be the guy that shows up everyday needed his hand held through things they don't have a clue about.
    There is nothing worse than a know it all that shows up everyday to micromanage.
   If your that guy act as your own GC and save money.
    At the end of the day do your research on who your hiring.
   One big red flag will be if a QC has had multiple business names.
     Some will build crap till they ruin their reputation then simply reincorporate with a new name.  
     Building what you want is worth it in the end.   Also don't be afraid to use a Realtor that has experience with new construction.
  Not sure where you live but in a area like mine you can get a good deal by building a stock Floorplan on your own land.
      You can make tons of changes but since they know the cost of the build you avoid the I don't know the true cost tax.  
  Good luck
Link Posted: 1/16/2017 2:26:25 AM EDT
[#30]
In my reply above I just assumed that having a home built is way more $$$$$.
Is it really?
I've been looking for a place myself, but nothing really interests me that I've come across.
5-10 acres can be had for $20K or so just for land, but 5 - 10 acres with a mediocre 1500 sqft 70's or 80's house with crappy floor plan and build is $150K - $200K.
All I want is a well built home that is 800 - 1000 sqft on a few acres.
Doesn't seem to exist already built, so I may have to go the "build" route.
Link Posted: 1/16/2017 2:27:04 AM EDT
[#31]
Build it; we will come

Just make it a point to visit the sight and check up on things frequently.


We, built in a spec home in 2010 with some changes and caught a couple of things we changed in the wrong location from where they where specified on the plans.
Circuit breaker was suppose to be in the garage, they put it in the basement and the attic access was in a hall when it was suppose to be in the master walk-in closet.

Other than that, all was fine and painless.
Link Posted: 1/16/2017 2:31:40 AM EDT
[#32]
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Quoted:
If you build, go to the work site daily.
View Quote


I'm planning to build when I retire, have thought about buying an RV and living on site.
Link Posted: 1/16/2017 2:38:13 AM EDT
[#33]
I say build, but I'm a licensed builder. Most builders quotes on construction usually are for a mid grade product at best. If you want top tier, your gonna pay for it. First, stay away from the large builders. They usually build quanity and not quality. Second, I suggest to research your builders past by checking with the Licsensure Board and talk to people that have lived in some of the houses they have built. The best builders are usually very open to contacting their past clients. Lastly, builders are usually tend to staying in the same general area so keep that in mind. It cuts down on the time to go around to visit all of their projects which saves you money in the end.
Link Posted: 1/16/2017 2:51:45 AM EDT
[#34]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
In my reply above I just assumed that having a home built is way more $$$.
Is it really?
I've been looking for a place myself, but nothing really interests me that I've come across.
5-10 acres can be had for $20K or so just for land, but 5 - 10 acres with a mediocre 1500 sqft 70's or 80's house with crappy floor plan and build is $150K - $200K.
All I want is a well built home that is 800 - 1000 sqft on a few acres.
Doesn't seem to exist already built, so I may have to go the "build" route.
View Quote


I'm a builder and it really boils down to square feet of construction under roof. I have heard people say, that they want to build a small hose, sub 1500 sqft. In my parts you can build around $85 a foot for very basic construction which means the house would be $127500. Then they want a two car garage, 20x20 adds $34,000, and a large under roof patio, 12x30 which adds around another $30000. Now that 1500 sqft house is close to $200k and does not include the price for the land/lot.
New Construction is pretty basic math. The only people that go over budget, either didn't look at the budget or changed their mind in the middle.
Link Posted: 1/16/2017 2:54:57 AM EDT
[#35]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
In my reply above I just assumed that having a home built is way more $$.
Is it really?
I've been looking for a place myself, but nothing really interests me that I've come across.
5-10 acres can be had for $20K or so just for land, but 5 - 10 acres with a mediocre 1500 sqft 70's or 80's house with crappy floor plan and build is $150K - $200K.
All I want is a well built home that is 800 - 1000 sqft on a few acres.
Doesn't seem to exist already built, so I may have to go the "build" route.
View Quote




   The smaller the square footage the higher the dollar per square foot will be.  It doesnt take any more time to grade for 1500 as it does 2000sqft  more material but not much time difference. Same with framing etc if you follow me.  
      Local conditions etc will influence the bottom line but often you can purchase a few acres and build for the price of a subdivision home ( from a strip home builder) ifyou do your home work.
       
   If you want to bring your own plan the cost will go up. ( true custom home)  That's where things get a lot more expensive.
   
   When you pick a stock plan the builders already know each subs price on countertop etc etc etc.   If it's a unique plan ( or unique to them) then your going to be eating the cost of all the calls and man hours to price it out etc.  Often they will pad the cost to make sure they don't lose money on unforseen stuff.

     Honestly I built about 9 years ago and we sold about a year and a half ago.
  We were looking for land (5acres)to build a house on when we found a killer deal on 42 acres with a old beat up house.
  It's been right at a year and we have renovated 80% of it.   While the home itself sucked at first I honestly like if more now than the one we built.
      My personal experience representing people is this.
If you got cash and don't like compromise then open the wallet and get it done.
  If your a working man and handy renovate a old house, be your own GC and build  ( on construction loan) or hire a strip home builder to build a stock Floorplan that's had some semi custom changes

  The builders post above me was full of good info IMO
Link Posted: 1/16/2017 3:31:45 AM EDT
[#36]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Gun vault, go outside hunt, shoot, and you are debating this?

WTF, go build.
View Quote


Exactly! I hate commuting but 30 minutes is well worth it for that. Plus an old house is going to have some issues.
Link Posted: 1/16/2017 3:48:37 AM EDT
[#37]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If you build, go to the work site daily.
View Quote


Actually you shouldn't do this for a few reasons.

(A) You can't be in the house while the trades are working. (You contract will be specific about this)  You have to schedule visits in advance with the builder when the trades are not working.  You have to wear a dorky looking hard hat and abide by all the job site rules.

(B) There won't be work done every single day.  If the house is waiting for a trade, inspection or materials, so are just making a trip for nothing.

(C) Unless You actually KNOW what you are talking about, You will only piss off the super and trades.

I was in new homes for nearly 15 years.  The "Daily Visitors" were ALWAYS the problem children who were miserable in the process, and made it miserable for everybody else to have to deal with.

Remember, The Builder can cancel your contract and sell the home to someone else who is not acting like a dick, (and often for more money).  

Helpful Suggestions

1 Don't come every day.  Come by a few times a week (Wednesday & Saturdays / Sundays).  
2 make a written specific list of items of concern and BE VERY SPECIFIC About WHAT it is, WHERE it is & WHY it is you are concerned.  You can also attach pictures
3 Don't expect the super to stop and drop everything for you anytime you have an issue.  The building process has clearly defined periods specifically for "Corrections"
4 Your home will have independent inspections at several stages of construction.  Unless you are an expert and really know the technical specifications of the building code, don't try to be "the expert" and don't threaten anybody (hint - it only goes badly for you).  I have watched a client go to jail for threatening City Inspectors.
5 Be Civil and Polite to the Super and the on site staff.  They can and will kick you off the job site if you are not. (Yes, the contract gives them that right)

It doesn't have to be adversarial.  Most builders and Supers want their clients to be very happy with their homes and will do all they can to that goal.  

Remember, If you are buying from a production builder at production home prices, don't expect custom level services.
Link Posted: 1/16/2017 4:43:53 AM EDT
[#38]
Build if you have the opportunity to.  I built 2 years ago.

1. Plan out in great detail what you want before you start.  Yes, even down to where you want light switches and outlets.  Colors, etc.

2. Go over every detail when you're in the contract phase and have it in writing. Yes, even down to where you want light switches and outlets.

3. Hold the builder to the contract.  They WILL cut corners and try to cheap out and/or miss things.

4. Post-build, if something is wrong (flaws in finish, etc) make them fix it.  Immediately.  
Link Posted: 1/16/2017 4:50:16 AM EDT
[#39]
Tl;DR
Shopping for "real estate" was too overwhelming  for me. I had to DIY.

If you want it done right, you HAVE to do it yourself.

Link Posted: 1/16/2017 5:07:08 AM EDT
[#40]
Wholly shit you just described Shangri La!  30 minute drive... that is like 7 mIles here in LA.  If you have the opportunity to build your own home there will be none better.  I did it, but no place to shoot...
Link Posted: 1/16/2017 5:55:19 AM EDT
[#41]
I was thinking this would be a neat use for those new VR goggles. When they make up the 3D model of the house you could "walk it" instead of just click through room renderings on the computer.
Link Posted: 1/16/2017 7:16:54 AM EDT
[#42]
Build it and get what you want.
I would look into,"aging in place" building info if it will be a forever home.
Ranch vs 2 story, 36" doorways, etc.
Buy a mid-grade hd camera system with remote access and put 4 cameras on the temp power pole so you can log in anytime and get a 360 view of the construction site
You will know who and when comes & goes plus it acts as a theft deterrent
Vet your builder and go with your gut
Do not be tempted by a cheap price.
In my opinion there are 3 types of builders:
1- the majority are tell me exactly what you want and I'll build it
2- straight up crooks
3- builders who do their best to read between the lines , interpret homeowner speak , to best estimate build cost before breaking ground.  These are mostly design/build contractors which is the category I fall into.
I work with clients who come to me with a realistic budget and prioritized wish list.
I tell them how much I can do with the budget and the process goes in circles until we reach an agreement and sign a contract.
Link Posted: 1/16/2017 7:22:51 AM EDT
[#43]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If you build, go to the work site daily.
View Quote


This. Contractors are know to cut corners and many do shoddy work. If they know you are watching they are less likely to cut corners and if you see something wrong can you can halt the project until it gets fixed.
Link Posted: 1/16/2017 7:41:27 AM EDT
[#44]
Quoted:
I would be able to go outside, shoot, and hunt.
View Quote


How is this even a question ? ? ?

A 30 minute drive is nothing and you probably won't be on that same job forever anyway.

DO IT ! ! !
Link Posted: 1/16/2017 7:44:28 AM EDT
[#45]
The real estate broker is correct. Both buying and building have plus and minus. One of the mistakes people make when 1st time building is biting off more than they can chew once they get started with upgrades. Other posters are also correct that some spec home builders, or tract home builders aren't custom home builders. You will need to hire the right architect and building contractor/General. You need to discuss this with your accountant and your banker too before you decide. They are familiar with your financials. Many people are shocked when they learn a new city electrical connection can be well over $10k, a sewer connection another 10-12k a new water meter could cost 12-15k plus other utilities. When you buy an existing home sometimes you can get some of that in the deal vs what your total cost will be per sq. ft. My opinion is build only if you can afford it with agreement from your bank and accountant. And DONT try to act as an owner/ builder unless you have real experience doing so. Good luck. -CB
Link Posted: 1/16/2017 8:07:49 AM EDT
[#46]
We built a custom home three years ago. I have a close friend who is a builder and had him GC it. I acted as the superintendent and saved a boatload. It was a ton of work on my part but that saved me money because he only charged me a small percentage of what he normally does.

We built a truly custom home on 3 acres with a pond in a high-end neighborhood. 3100 square feet, nail down hardwood, granite, travertine marble, walk-through double shower, storm shelter, custom cabinets and built-ins in every room. Borrowed $225,000 from the bank and built it all in for $236,000. Due to comps in the neighborhood($300-500k), our appraised value was $325k. Walking into almost $100k equity means that we will never buy another house again. If we evermove, we will build from now on.

The end result is that we have a house that we shouldn't own, in a neighborhood that we don't belong in, with a mortgage that is almost half of what we were paying prior.
Link Posted: 1/16/2017 12:58:42 PM EDT
[#47]
My wife and I have owned 9 homes over the last 28 years. We built 2 new, did a renovation / addition that would have been easier to tear down an start over, a couple that were just a matter of moving our stuff in.

We just bought a 10 year old foreclosure last week. It needs new flooring, appliances and paint. My wife wants Granite and to move some walls but those things are strictly preference, not need. We paid $79 a square foot including the 3 acres it sits on in a resort community. it's 2500 sq ft, 3 br, 2 bath, 2 car garage plus a 1/1 MIL apartment with it's own entry, kitchen and laundry. Has a pond and an RV spot with water and 50 amp electric. If we had built new it would have been a minimum of $100/ sq ft plus $40K for the land including prep/pond/well/septic etc.
So $196k plus $50k for my wife's wish list = $246k  vs. $290k for new and no granite at that price.

In my area you just can't build new in this economy for what you can buy existing for.
The other thing is , depending on how much , if anything you need / want to do to update the existing home, you can move in much sooner. Six months from the planning stage to moving in is not unrealistic on new construction.
And then there is Location, Location, Location. Is there an existing home right were you want to be that fits your needs? Or is there a vacant lot? (You already have the land so that is a little different)
Link Posted: 1/16/2017 1:11:10 PM EDT
[#48]
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Actually you shouldn't do this for a few reasons.

(A) You can't be in the house while the trades are working. (You contract will be specific about this)  You have to schedule visits in advance with the builder when the trades are not working.  You have to wear a dorky looking hard hat and abide by all the job site rules.

(B) There won't be work done every single day.  If the house is waiting for a trade, inspection or materials, so are just making a trip for nothing.

(C) Unless You actually KNOW what you are talking about, You will only piss off the super and trades.

I was in new homes for nearly 15 years.  The "Daily Visitors" were ALWAYS the problem children who were miserable in the process, and made it miserable for everybody else to have to deal with.

Remember, The Builder can cancel your contract and sell the home to someone else who is not acting like a dick, (and often for more money).  

Helpful Suggestions

1 Don't come every day.  Come by a few times a week (Wednesday & Saturdays / Sundays).  
2 make a written specific list of items of concern and BE VERY SPECIFIC About WHAT it is, WHERE it is & WHY it is you are concerned.  You can also attach pictures
3 Don't expect the super to stop and drop everything for you anytime you have an issue.  The building process has clearly defined periods specifically for "Corrections"
4 Your home will have independent inspections at several stages of construction.  Unless you are an expert and really know the technical specifications of the building code, don't try to be "the expert" and don't threaten anybody (hint - it only goes badly for you).  I have watched a client go to jail for threatening City Inspectors.
5 Be Civil and Polite to the Super and the on site staff.  They can and will kick you off the job site if you are not. (Yes, the contract gives them that right)

It doesn't have to be adversarial.  Most builders and Supers want their clients to be very happy with their homes and will do all they can to that goal.  

Remember, If you are buying from a production builder at production home prices, don't expect custom level services.
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If you build, go to the work site daily.


Actually you shouldn't do this for a few reasons.

(A) You can't be in the house while the trades are working. (You contract will be specific about this)  You have to schedule visits in advance with the builder when the trades are not working.  You have to wear a dorky looking hard hat and abide by all the job site rules.

(B) There won't be work done every single day.  If the house is waiting for a trade, inspection or materials, so are just making a trip for nothing.

(C) Unless You actually KNOW what you are talking about, You will only piss off the super and trades.

I was in new homes for nearly 15 years.  The "Daily Visitors" were ALWAYS the problem children who were miserable in the process, and made it miserable for everybody else to have to deal with.

Remember, The Builder can cancel your contract and sell the home to someone else who is not acting like a dick, (and often for more money).  

Helpful Suggestions

1 Don't come every day.  Come by a few times a week (Wednesday & Saturdays / Sundays).  
2 make a written specific list of items of concern and BE VERY SPECIFIC About WHAT it is, WHERE it is & WHY it is you are concerned.  You can also attach pictures
3 Don't expect the super to stop and drop everything for you anytime you have an issue.  The building process has clearly defined periods specifically for "Corrections"
4 Your home will have independent inspections at several stages of construction.  Unless you are an expert and really know the technical specifications of the building code, don't try to be "the expert" and don't threaten anybody (hint - it only goes badly for you).  I have watched a client go to jail for threatening City Inspectors.
5 Be Civil and Polite to the Super and the on site staff.  They can and will kick you off the job site if you are not. (Yes, the contract gives them that right)

It doesn't have to be adversarial.  Most builders and Supers want their clients to be very happy with their homes and will do all they can to that goal.  

Remember, If you are buying from a production builder at production home prices, don't expect custom level services.


Schedule visits? Wear hard hats? You have to be kidding! I have had new homes built (both custom and tract) and done massive addition / renovations and NEVER saw anything like that in a contract! Kick me off my own property ? LOL! Where are you working NYC?
Link Posted: 1/16/2017 1:33:22 PM EDT
[#49]
Built it.  You're going to get what you want and not have to adapt what someone else wanted.

Don't go every day, but plan on swinging by multiple times a week to check in. 

We built and if we didn't at least drive by they would have had the slab poured facing the wrong way. Little stuff can always be corrected, but the big stuff has to get caught before it's done.
Link Posted: 1/16/2017 2:16:52 PM EDT
[#50]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Schedule visits? Wear hard hats? You have to be kidding! I have had new homes built (both custom and tract) and done massive addition / renovations and NEVER saw anything like that in a contract! Kick me off my own property ? LOL! Where are you working NYC?
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
If you build, go to the work site daily.


Actually you shouldn't do this for a few reasons.

(A) You can't be in the house while the trades are working. (You contract will be specific about this)  You have to schedule visits in advance with the builder when the trades are not working.  You have to wear a dorky looking hard hat and abide by all the job site rules.

(B) There won't be work done every single day.  If the house is waiting for a trade, inspection or materials, so are just making a trip for nothing.

(C) Unless You actually KNOW what you are talking about, You will only piss off the super and trades.

I was in new homes for nearly 15 years.  The "Daily Visitors" were ALWAYS the problem children who were miserable in the process, and made it miserable for everybody else to have to deal with.

Remember, The Builder can cancel your contract and sell the home to someone else who is not acting like a dick, (and often for more money).  

Helpful Suggestions

1 Don't come every day.  Come by a few times a week (Wednesday & Saturdays / Sundays).  
2 make a written specific list of items of concern and BE VERY SPECIFIC About WHAT it is, WHERE it is & WHY it is you are concerned.  You can also attach pictures
3 Don't expect the super to stop and drop everything for you anytime you have an issue.  The building process has clearly defined periods specifically for "Corrections"
4 Your home will have independent inspections at several stages of construction.  Unless you are an expert and really know the technical specifications of the building code, don't try to be "the expert" and don't threaten anybody (hint - it only goes badly for you).  I have watched a client go to jail for threatening City Inspectors.
5 Be Civil and Polite to the Super and the on site staff.  They can and will kick you off the job site if you are not. (Yes, the contract gives them that right)

It doesn't have to be adversarial.  Most builders and Supers want their clients to be very happy with their homes and will do all they can to that goal.  

Remember, If you are buying from a production builder at production home prices, don't expect custom level services.


Schedule visits? Wear hard hats? You have to be kidding! I have had new homes built (both custom and tract) and done massive addition / renovations and NEVER saw anything like that in a contract! Kick me off my own property ? LOL! Where are you working NYC?



  Building can be a few ways as well as the  loan.
If your using a production builder then that's what your getting as a home and that  level of service.
There can be contracts that purchase the land and wrap it all together. They usually have contingencies for crazy clients.
Second would be using a construction loan.
If you own the land and are building on a loan like this your taking draws on the loan. That would be at different established  points of the build.
 It's hard to fit all of the scenarios while thumb typing on my phone.
However you have more control with building this way. If one party isn't happy they can most likely walk depending on the contract.
   It's all about the contract.  There is a large portion of DIY guys on this fourm. By nature they may not hire someone like myself but we do have a lot to offer.   A "good" agent knows who and who not to use . What kind of service to expect for your budget the paperwork etc etc .  Often the larger builders are paying the same amount of commission to their in-house agent or that company is having to split with the buyer's agent.
  In a nutshell not using a good Agent is not going to save you any money.  There are exceptions will the small custom builders.

    I could ramble for days but there's no simple one-size-fits-all scenario.
 Every Market every building and every client will be different.

  I will say this though if you hover over someone's shoulder on a daily basis it will not go well.  Try to imagine someone doing that to you in your chosen profession.
     With a custom builder who is charging appropriately workout an expectation of how and when you will be updated.
  If you want to meet every Monday for half an hour then so be it. But if you show up unannounced you probably should just consider buying a pre-existing home( or be your own GC).
   A production Builder is only going to do two to three walk-throughs though.
 Nothing comes for free. If you want to be on the job site frequently for  half of the year expect to be paying half a year salary for someone to babysit you.
     In the end for the guys that say stay on top of things I understand and agree. However I would also build my own home instead of hiring somebody for that very reason.
      If you don't have that kind of time find someone who you believe is as smart as you are and would do the job the way you would.
   With that said don't complain about the price
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