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House building - Any tips on finding a good builder? What should be asked at first meeting? (1 Viewer)
- Thread starter eoMMan
- Start date
STEADYMOBBIN 22
Footballguy
I would start by contracting a nice design from one of my most favorite posters @El Floppo
I don’t think our tastes will jive. I’m more of a meat and potatoes, basic type guy and I think I read he wears scarves as a fashion accessory (apologize if I’m incorrect).
STEADYMOBBIN 22
Footballguy
Chadstroma
Footballguy
I will share my experience with a developer. After this experience, I would never do a new build with a developer and will only do a new build picking out my own contractor and using my own plans, etc.
I did a ton of research ahead. I even started a thread here asking for input. (10+ years ago so I am sure it was purged)
During the first walk through, I had asked a bunch of questions... without fail, EVERY SINGLE ANSWER until it became a joke was "We can do ANYTHING you want, except move a load bearing wall." I said, great, I will send a list of options that I would be interested in and would like to get pricing on them.
Now granted, the list was ridiculous long and some of them I didn't even know what it was let alone say it was something I wanted but from my research, I wanted to know all the pricing so I could decide. The list had things like spray on insulation, whatever special high grade hard wiring for internet (I am sure it is so badly out of date now), extra outlets everywhere, pavers or concrete driveway instead of asphalt, etc. There was prob over 100 things on the list
It comes back and well over half of them they said they COULD NOT DO. Um... wha? You guys went through this whole thing about how you could do anything.... that was a huge red flag to me. Then, the pricing on everything was just ridiculously over priced. It was clear that they were basically saying "we want to cookie cut this thing for you but if you really want whatever.... we will make a fortune off of you" that irritated me to no end. I mean, the prices were we over what it would cost me to tear something out and then hire someone to do what I wanted after completion type of over charging.
So, here is the more relevant part to you... I started asking everyone in the area I knew about the developer. If they or anyone they knew had any experiences. It just so happened that my SIL's husbands cousin was good friends with the owners. Like, if one of them is having a BBQ, the other is going to be there kind of good friends. They actually bought a property from them and make a long story short.... they poured a half basement when it was suppose to be a full basement. Instead of trying to make it right in some way they just tried to force them to take it with cutting the difference in cost of what it would normally be on the purchase. Now... if you are going to treat close friends like that.... what would you do to just some random customer. I also heard from some other people that basically had heard bad stuff too but nothing first hand like that.
The final coffin nails were their rules of not allowing you on the property at all except the two walk throughs. The walk throughs could ONLY have whomever was on the contract. It did not matter if family or anything. So, if my wife was on contract, only she could do the walk through and I could not be there. Not only that but they would not allow any outside inspections being done at any point. They blamed insurance.
I pulled my deposit and walked away.
Being a mortgage broker, my advice is this... if you are going to build then you be the project manager. Find a good primary contractor to be the builder that has experience building. Do your google snooping etc and also ask for references and past properties that they built. Talk to those people. Knock on doors. Ask around to people if they know the builder at all. Call realtor offices and ask if they know about the builder.
If using a developer... (I wouldn't but people do) then do the same. Be careful of their preferred lenders.... they fork over a lot of credits to make it sound great but it is most often smoke and mirrors and you get screwed in the end. Many times, I have advised clients to take their deal with high credits from the lender and then refi it right after closing because of how they construct the deals. That being said, some of the bigger builders who own their own lenders are offering silly deals to keep the builder side in the black as they take a loss on the lender side.
I did a ton of research ahead. I even started a thread here asking for input. (10+ years ago so I am sure it was purged)
During the first walk through, I had asked a bunch of questions... without fail, EVERY SINGLE ANSWER until it became a joke was "We can do ANYTHING you want, except move a load bearing wall." I said, great, I will send a list of options that I would be interested in and would like to get pricing on them.
Now granted, the list was ridiculous long and some of them I didn't even know what it was let alone say it was something I wanted but from my research, I wanted to know all the pricing so I could decide. The list had things like spray on insulation, whatever special high grade hard wiring for internet (I am sure it is so badly out of date now), extra outlets everywhere, pavers or concrete driveway instead of asphalt, etc. There was prob over 100 things on the list
It comes back and well over half of them they said they COULD NOT DO. Um... wha? You guys went through this whole thing about how you could do anything.... that was a huge red flag to me. Then, the pricing on everything was just ridiculously over priced. It was clear that they were basically saying "we want to cookie cut this thing for you but if you really want whatever.... we will make a fortune off of you" that irritated me to no end. I mean, the prices were we over what it would cost me to tear something out and then hire someone to do what I wanted after completion type of over charging.
So, here is the more relevant part to you... I started asking everyone in the area I knew about the developer. If they or anyone they knew had any experiences. It just so happened that my SIL's husbands cousin was good friends with the owners. Like, if one of them is having a BBQ, the other is going to be there kind of good friends. They actually bought a property from them and make a long story short.... they poured a half basement when it was suppose to be a full basement. Instead of trying to make it right in some way they just tried to force them to take it with cutting the difference in cost of what it would normally be on the purchase. Now... if you are going to treat close friends like that.... what would you do to just some random customer. I also heard from some other people that basically had heard bad stuff too but nothing first hand like that.
The final coffin nails were their rules of not allowing you on the property at all except the two walk throughs. The walk throughs could ONLY have whomever was on the contract. It did not matter if family or anything. So, if my wife was on contract, only she could do the walk through and I could not be there. Not only that but they would not allow any outside inspections being done at any point. They blamed insurance.
I pulled my deposit and walked away.
Being a mortgage broker, my advice is this... if you are going to build then you be the project manager. Find a good primary contractor to be the builder that has experience building. Do your google snooping etc and also ask for references and past properties that they built. Talk to those people. Knock on doors. Ask around to people if they know the builder at all. Call realtor offices and ask if they know about the builder.
If using a developer... (I wouldn't but people do) then do the same. Be careful of their preferred lenders.... they fork over a lot of credits to make it sound great but it is most often smoke and mirrors and you get screwed in the end. Many times, I have advised clients to take their deal with high credits from the lender and then refi it right after closing because of how they construct the deals. That being said, some of the bigger builders who own their own lenders are offering silly deals to keep the builder side in the black as they take a loss on the lender side.
El Floppo
Footballguy
I use scarves the way I do an umbrella- when needed.
Some of you seem to think neither are ever needed...
What kind of $ per square foot is average?
I saw online that $/sq ft for Florida ranges from $100 to $200, however, it seems builders and all new construction is over $200/sq ft.
I understand costs have risen (and finding good workers tough) but at what point does that just become an excuse and the real reason is to bank good profits?
I saw online that $/sq ft for Florida ranges from $100 to $200, however, it seems builders and all new construction is over $200/sq ft.
I understand costs have risen (and finding good workers tough) but at what point does that just become an excuse and the real reason is to bank good profits?
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