What Are Builder Incentives? Builders sell homes which are a complex, long-term purchase. For specific homes or lots in a project, at certain times they may improve terms in some way to incent someone to buy the home promptly – in other words “Incentives.”  This video categorizes and summarizes some types you might encounter. Broadly […]

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Your new favorite video! Before you fall in love with a model home and neighborhood visuals compare builders with these questions. How many homes have you built, over how many years? Can you give me references from prior buyers? Are you licensed and insured? What home plans are offered in this project? Who will oversee […]

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As this video explains, new home builders and resale sellers sometimes offer a “decorating allowance.” Typically, this enables buyers to upgrade things like carpets, flooring and appliances and take advantage of the builder’s economies of scale. If you’re buying, ask the seller these questions about a decorating-allowance offer: What terms must your offer satisfy to […]

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This video gives you some ways to frame that question. It’s more efficient and less paperwork for home builders to have financing on new-home sales handled by a single lender. So builders, particularly on larger projects, frequently make arrangements with a “preferred lender.” That lender can be fully informed about their building project which may […]

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Like the man says, a blueprint is not a house – so conventional home mortgages don’t apply to construction projects. However,  most blueprints become houses  – so loans that cover construction, then convert to permanent mortgages or “construction perm” loans are fairly common. The development loan phase is frequently a variable-rate loan, with scheduled loan “draws” […]

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Once a builder or contractor has declared a project “substantially complete” it’s given a pre-final inspection. As this video outlines, the punch list – called a “snag list” in some other English-speaking countries – is the remaining set of tasks. Tasks might include repairs to damaged windows or wall cracks, or final installation fixes like […]

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This short video explains these broad categories. Production: build many homes from a limited set of home plans with limited options for customization. Custom: one-of-a-kind build homes or highly customized models usually with direct client involvement. Selecting one or the other depends on how much design input you want to have when you want to […]

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