Crash Course: The Ins and Outs of Home Building Contracts

When you decide to have a new home built, you’ll need to find a builder and sign a contract with them. Since home construction is a complex process, it’s important to make sure you understand your home building contract before signing it. What should you expect to see on one of these contracts? You should make sure your contract includes the following information. If not, you should have the builder revise the contract to include this information before you sign it.

Estimated Timeframe

Your contract should include information on the estimated timeframe for your home building project. It should show when construction is scheduled to start and when it is scheduled to end. You should also see details on when different phases of the project are scheduled to take place. Keep in mind that delays can happen for several reasons, such as adverse weather, labor shortages, material shortages or inspection delays. However, if these conditions do not occur, your builder should make every effort to complete your project within the scheduled timeframe.

Scope of the Project

Your home building contract should provide you with detailed information on the services that are included. This goes beyond the actual building process. Your builder should also state that they are performing any other tasks that are needed for your project, such as obtaining permits and providing materials, equipment and labor. Your contract should also show that the builder agrees to follow the house plans and specifications and will not make any changes or modifications to these without consulting you. This helps ensure that you’ll get the exact house you’re expecting.

Payment Details

Your contract should include details on payment, including when each payment is due, how much is due and how payments should be made, such as by check. You should also make sure your contract from the builder includes detailed information on all the fees and costs for your project. This helps you understand what you’re paying for, so you can ask questions or point out errors if needed. Your final payment might be due when your project is considered substantially completed. Since this interpretation can differ, your contract should provide a clear definition of substantial completion.

Project Scope Changes

If you change your mind about certain features or other components of your new home, such as wanting to adjust a room’s layout, add a window or have a custom feature installed, the contract should address this. Your contract should provide information on how these changes will be handled. For example, your contract might state that you will need to provide written documentation with approval from both you and your builder to change facets of your project. Keep in mind that your builder might want to make changes during the project. Having this section in your contract stops your builder from doing these without your approval.

Inspections

You should be able to check on the progress of your home construction project. Your contract should state that you may do this, as long as you plan to stop by at reasonable times, depending on the specific work that is going on. These inspections give you a chance to make sure your project is going as planned and bring up any issues you might have with the builder.

How to Turn a High Profit when Selling Your Home

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You’ve finally decided to sell your home and now you want the REALTOR® to show you the money! While that sounds like it can happen at the snap of a finger, there are a few things to consider. Are you selling for a profit or is your goal to make the biggest profit you can? If it’s the latter, here are a few things you can do:

  • Step onto the Stage

Staging your home can bring in big bucks. According to the National Association of REALTORS®, 77% of REALTORS® agree that buyers who can visualize a staged property as their future home makes a difference.

  • Research Your Ideal Client

Who are you selling to? Are your buyers people who have children and want a nice neighborhood? Are they wanting a move-in ready home? Unless they are buying solely for the neighborhood, the condition of the home has a lot to do with their decision.

  • Create a Digital Showing

Let’s face it – social media and digital marketing are one of the best ways to connect with potential buyers. Adding a 3D element where they can “walk through” will not only create additional interest, but widens the number of people that may add your property to their list. An additional plus would be if you could upload the floor plans, any warranty and maintenance records to show how well you took care of the home.

  • Appeal to the Curb

If you think buyers aren’t looking at the exterior of the home, think again. They want to see the home in its best light – that means pressure cleaning or painting the exterior, washing the windows, repairing any cracks in the driveway and investing in landscaping.

  • Invest in Upgrades

Upgrades to the kitchen and bathrooms truly make your home stand out. New appliances, eat-in arrangements and lighting have a lasting effect. Have some water or something to drink in the refrigerator and make sure it’s clean. Buyers do peek. If you can afford new, inexpensive flooring that speaks to the environment, that will be a positive in your favor.

  • Have a Neutral Palette

Painting the walls in a neutral color lightens up the space and allows potential buyers to consider what their furniture would look like in the space

  • Stay Clutter-Free

The more you can get rid of so buyers can see an actual representation of how much space they will have the better. Your staging should demonstrate different ways the spaces can be utilized, giving them a wealth of ideas.

  • Other This & That

Installing ceiling fans, smart home tech and other simple touches can instantly put your home at the top of the list.

These are just a few ways your home can help you get top dollar for your home to move forward with a smile on your face. For more tips on getting your home ready to sell for top dollar, work with your REALTOR® for awesome results.

Get Your Home Finances in Order

For those who want to acquire a house, it helps to get your finances in order. That way, you can quickly and effortlessly navigate the homebuying journey without having to worry about how you’ll afford your dream house.

There are many quick, easy ways to straighten out your finances before you embark on the homebuying journey, such as:

1. Assess Your Credit Score

Your credit score ultimately can play a major role in your ability to secure a great mortgage. If you understand your credit score, you may be able to find ways to improve it prior to conducting a home search.

It is important to remember that you are entitled to a free copy of your credit report annually from each of the credit reporting agencies (Equifax, Experian and TransUnion). Request a free copy of your credit report today, and you can take the first step to evaluate your credit score.

If you find that your credit score is low, there is no need to worry. You can always pay off outstanding debt to improve your credit score over time.

Also, if you identify any errors on your credit report, you’ll want to address these mistakes immediately. In this scenario, you should contact the agency that provided the report to ensure any necessary corrections can be made.

2. Look Closely at Your Monthly Expenses

When it comes to buying a house, it generally helps to have sufficient funds for a down payment. The down payment on a house may fall between 5 and 20 percent of a home’s sale price, so you’ll want to have enough money available to cover this total for your dream residence.

If you evaluate your monthly expenses, you may be able to find ways to save money for a down payment on a house.

For example, it may be beneficial to cut out cable TV for the time being and use the money that you save toward a home down payment. Or, if your dine out frequently, cooking at home may prove to be a substantial money-saver that could help you speed up the process of saving for a down payment.

3. Get Pre-Approved for a Mortgage

With pre-approval for a mortgage, you can enter the housing market with a budget in hand. Then, you’ll be better equipped than ever before to narrow your search to houses that fall within your price range.

To get pre-approved for a mortgage, you’ll want to meet with banks and credit unions. These financial institutions can teach you about different mortgage options and help you assess all of the options at your disposal.

Furthermore, don’t hesitate to ask banks and credit unions about how different types of mortgages work. This will enable you to gain the insights that you need to make an informed decision about a mortgage based on your financial situation.

If you need extra help as you prepare to pursue a house, you may want to hire a real estate agent as well. In fact, a real estate agent can help you find a high-quality house at a budget-friendly price in no time at all.

Is It Simple to Sell a California Luxury House?

Selling a luxury home in San Francisco, Los Angeles or elsewhere in California is rarely quick and easy. Fortunately, there are many things that you can do to plan ahead for the Golden State luxury house selling journey to boost the likelihood of enjoying a fast, profitable property selling experience.

Now, let’s take a look at three tips to help you get ready to sell your California luxury residence.

1. Prioritize Your Home’s Curb Appeal

How your luxury home looks to buyers is crucial, regardless of whether your residence is located in Malibu, Cupertino or any other California city or town. If you prioritize your Golden State luxury residence’s curb appeal, however, you can make your home an appealing option to buyers.

To upgrade your California luxury home’s curb appeal, you should maintain a neat, tidy front lawn. In addition, you should perform lawn care tasks regularly to limit the risk of weeds and other problems that may impact your Golden State luxury residence’s curb appeal.

Don’t forget to repair or replace any damaged home siding, too. That way, you can make it easy for buyers to fall in love with your California luxury residence as soon as they see it.

2. Revamp Your Home’s Interior

A drab home interior is unlikely to do you any favors. Conversely, if you update your California luxury house’s interior, you could differentiate your home from comparable residences in your city or town.

Oftentimes, it helps to clean each room of a California luxury residence. You also may want to hire a home interior expert to help you transform your Golden State luxury house’s interior from drab to fab.

You should devote time and resources to cut down on clutter inside your California luxury house as well. Remember, you can always donate unwanted items in your home to a local charity or give them to family members or friends. On the other hand, you may want to sell your unwanted items online or host a yard sale prior to listing your Golden State luxury residence.

3. Hire a Real Estate Agent

For those who are unsure about how to sell a luxury home in Beverly Hills, San Jose or another California city or town, it may be beneficial to hire a real estate agent. If you have a real estate agent at your disposal, you can take the guesswork out of the Golden State luxury home selling journey.

A real estate agent understands what it takes to help a California luxury house seller achieve his or her desired results. Thus, if you want to sell an Anaheim luxury home as quickly as possible, a real estate agent can help you do just that. Or, if you want to maximize the earnings from the sale of your Santa Monica luxury home, a real estate agent will work diligently to help you get the best price for your residence.

Ready to list your California luxury house? Use the aforementioned tips, and you can simplify the Golden State luxury home selling journey.

Try These Ideas for Free Moving Boxes

Cardboard moving boxes are everywhere. However, when you’re moving, you may feel you never have enough. While major retailers sell moving boxes, the price can add up quickly. If you’re moving a sizable amount of items or just want to recycle a few unused boxes, free moving boxes are the way to go. Luckily, there are many ways to get them. Here are some suggestions of places to look for free moving boxes:

Recycling Centers

Used cardboard boxes often end up at recycling centers. While they’re likely to be broken down, it’s common to find discarded boxes in great shape. You can use packing tape to rebuild them and repurpose them for your own move. Speak to an attendant or employee before grabbing anything, though.

Dorms & Apartment Complexes

If you live near college dorms or student apartments, you may be sitting on a cardboard box goldmine. Since these communities use large communal recycling containers, you can often find a ton of discarded cardboard boxes from students moving in or out. Try visiting during the beginning or end of the school year and speak to a property manager or student housing representative before helping yourself.

Retailers

Local stores go through a lot of cardboard boxes. It’s worth asking if retailers have any extra boxes they don’t need. Some of the best sources of moving boxes are electronic and office supply stores, home improvement stores, bookstores and liquor stores. The worst that can happen is they say no. Otherwise, you can help a local business with their recycling and get the boxes you need.

Local Social Media Groups

Finally, look at various social media platforms for your area to see if anybody is giving away moving boxes. It’s very common for people who have just finished moving to offer their used boxes to the community. You can typically find these opportunities under the “free” section of your favorite marketplace website. Act quickly, though—these types of offerings are first-come-first-served and in high demand.

There are a lot of sources of free moving boxes as long as you know where to search and who to ask. However, always check with whomever is in charge of the area before taking boxes. Even though they’re just boxes, taking without permission could still be considered theft. Plus, a bit of courtesy can have enormous benefits.