Difficult Times Require Caution: Building Your Home
Filed under: Building a New Home
If you have come to the conclusion, like many other buyers in the Sequim and Port Angeles areas, that the perfect home does not exist in the current inventory of homes for sale, and you have decided to shop for a good quality home builder, this is a time to be very careful.
Many builders around the country have been struggling to survive. This isn’t front page news, but it does have serious implications for you. The first obvious implication that is playing itself out is that some builders are determined to provide the lowest bid, even if it means they might only work for minimum wage or less, and even if it means they might bid too low to finish your home.
The old maxim that, “Buyers hire the builder who provides the lowest bid” has gone to entirely new levels with this recession. Now there are builders who work out of the back of a pick-up truck and do all the work themselves without subcontractors in order to come up with a bid that is so low, no established or credible custom home builder can compete.
This is a potential disaster for the home owner. There are so many things that can go wrong, and do. Cutting bids so low means compromise. Remember the saying from your economics 101 class? “There’s no such thing as a free lunch.” Many builders are striving to survive, and if you don’t do your due diligence in selecting a good one, you may end up paying much more than you planned.
I strongly recommend that you go with an established custom home builder with a high customer satisfaction rate, and one who is financially strong and has been around for many years. Don’t be fooled by a lower bid, if you have not given a strong builder the opportunity to compare his bid, apples to apples.
Possibly Related Posts:
- Buyers Can’t Find Perfect Home in Existing Inventory
- Home Builders: Truth is Stranger Than Fiction
- Strong Home Builder vs. Weak Home Builder
- Home Builder with Exceptional Customer Experiences
- Why Hire a General Contractor to Build Your Home?
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