Buying A Home
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
What am I missing? - New Construction Questions
We are going to sign the contract and put the deposit down for our new build this evening. Every day I come up with new questions to ask before we sign our lives away.
Is there anything that I could be missing?
We've negotiated them down to their final offer.
Re: What am I missing? - New Construction Questions
Not sure what you've asked them so far but here are some of my recent questions (I'm dropping off my signed papers and a deposit at lunch time) -
-We have an estimated construction completion date - but I wanted to know if that factors in any weather delays (since we are breaking ground in October in the Midwest). It actually does factor in a certain amount of delays
-Can you use an independent inspector and at what points? It was written into our contract that we could have an inspector before our final walkthrough, and gave certain specifications and timing requirements.
Gosh, I've asked the sales rep a billion questions, but these are the most recent two. Good Luck!
Thanks. Yes I've asked about a million too, but can't remember them all to post what's already been asked.
Thanks for the inspection one. I'll def ask about that.
I have talked to them about weather delays already. We're also breaking ground in October in the Midwest. Yay!
Is there a mortgage contingency worked into the contract? If (god forbid) circumstances prevent you from obtaining a mortgage, do you forfeit your initial deposit and any subsequent deposits after for upgrades?
Is there an appraisal clause? If the cost of construction comes in higher than the appraised value of the house, will the builder work to bring the cost down (unlikely) or will you subsequently have to make up the difference (usually the case)
If you're building in a subdivision (and if it matters) can someone come in and build the same exact elevation on the lot next door?
Thanks for the suggestions!
Will there be an HOA? Will the HOA be run by the homeowners or a property management company? What kind of fees will there be, and what will they cover?
Which is better in your opinion?
We do have an understanding of the cost and what it will cover, but since we've never had a HOA before I'm not sure what management method would be better.
I would think a property management company would take any politics out of it.
I've only ever dealt with a property management company, but I have no complaints. They collect the money and pay insurance and deal with landscaping and storm clean up issues. I have friends with HOA's that are controlled by residents, and it seems to be drama all the time.
One neighborhood we looked at would only allow a certain kind of fence, and it had to be 4 ft. No lower, no higher. That's the kind of thing that can be easy to find out too late.
make sure EVERYTHING you think is standard... is actually standard. We had a few surprises when building and I walked through and said "where is that window?" "why doesn't the bathroom have a drawer stack"?. Thankfully, they worked with me - but not every builder is as flexible.
Take your closing date - and add a week or two. We had no bad weather during our build and it still took longer than they said.
It hasn't been that long since I've been in your shoes - but I can't think of anything else. You can check my blog for details. It starts a few days after we signed the contract.
"The House We Built."
A journey of building the dream.
Um..I stalk your blog.
It's in my google reader feed. I've been addicted to all building blogs lately.
Thanks