New Home Construction

Working with Your Builder

One of the more important decisions you will make as you begin the home-building process is your choice of a builder. Industry experts recommend that you make this decision sooner rather than later. Because builders can offer invaluable insight on site selection, home design and other characteristics involving your future home, early input is often critical to the successful completion of your home. Here you will find a list of helpful topics about working with your builder.

Evaluation of Your Builder
Many in the industry suggest that you focus less on cost and more on your builder’s professional track record, financial stability, warranty coverage and experience. You should also consider working with a local builder who’s familiar with the area in which you are planning to build your home. This familiarity will allow your builder to answer important questions about local building codes and subcontracting practices. In the final analysis, make sure to select a builder whose quality of homes impresses you. Click here to find a builder in your area. (link to ‘find a builder’ functionality in the ‘Loan Resource Center’)

Working Effectively with Your Builder
Developing a working relationship with your contractor is contingent upon a number of factors.

Drafting a well-written contract with provisions to protect your interests in the event that the terms of your agreement are not met. Scheduling frequent meetings with your builder and project manager to discuss issues of importance pertaining to the construction of your home. Filing and retaining access to documents outlining charges and expenses. Establishing clear rules for open communication and distribute phone lists of all relevant parties.

Potential Problem Areas
The cost of your home begins exceeding the amount of your loan. Schedule a meeting with your builder to discuss where you might cut costs.

You don’t approve of the materials your builder has chosen. Discuss the option of changing orders. This will likely cost your more and cause some delays.

Your builder wants to charge extra for certain work. A careful plan will help you avoid costly changes.

Home