Five Things to Know Before Building a Home
1. Should You Use a Realtor?
Yes. In central Ohio it is common practice that the home builder will pay the agents commission, so you will still be getting theirservice for free (check with the agent to make sure). While the builder representative may be honest and very trustworthy, they do represent the company building your home. A real estate agent is going to represent you, and negotiate everything on your side of the transaction on your behalf.
2. Where Do You Want to Build?
Do you own a plot of land you want to build your dream home on, or do you want a lot in a new development? This will influence your answer to number 3, as not all home builders will build on individually owned land.
3. What Type of Builder Do You Want, or Need?
There are two types of home builders, custom builder's and production builder's. The difference between each is explained below. On my "Builders" page on www.columbusCITYLIVING.com I have a list of each major builder located in central Ohio that will take you directly to their website.
- Custom builder's construct a one-of-a-kind home. They may build them on a single lot owned by a developer, or some will even build on the land you own. Most custom builders will work with on every detail of your new home such as the floor plans and the design. If you want to have a say in the build from start to finish, then you may want to consider a custom builder.
- A production builder will build a number of homes based on a library of home plans. Most of the time, these plans are limited to a particuliar development(s). While most production builder's have started to get away from the practice, this is where the term "cookie cutter home" comes from...meaning all the homes look similar on the outside, and the floor plans are all the same on the inside. Generally, after choosing a floor plan, you will be able to personalize your home in key elements.... such as appliances, cabinets, countertops, flooring, etc. Each builder will typically have a list of "upgrades" that you can choose from.
4. Know Your Budget
It's very easy to get carried away when you see that the "upgrade" only costs a little more. A few upgrades later and the "little more" has now become a lot more. See how much the upgrades would cost if you would have a contractor come in and do the upgrade afterward. Or, maybe you can set aside a few projects to tackle yourself and save some money.
5. Build With Resale in Mind
While you're building your dream home, it's okay to put elements in the design that you like. However, in this day and age people rarely live in one home for a lifetime. Keep in mind that you may have to resell the home sometime in the future. It would be wise not to put some "out of the box" feature that only a certain personality would enjoy.
Josh Uminski - Your Realtor for Columbus and Central Ohio Real Estate
Berkshire Hathaway HomeServices Professional Realty