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Building Our Custom Home |
| SIGNING A CONTRACT When we considered building our own home, I began to do a lot of research. I read books, searched the web and talked to others who had built their homes. Many of the problems people had with their builders could be traced to an inadequate contract. Most builders want you to use their contract which is heavily weighted in their favor. I insisted that I use a contract that protected my rights. After all, I am the one who is paying for the home. In fact, it was my land, my loan, my credit, my everything. In this case, my builder has practically no risk. One item in the contract is a penalty for not completing the house on time. In the contract I went two months past the expected date of completion (you don't want to rush the project or you get shoddy work) and every day after that point, the builder is penalized $100 a day. An extremely detailed specifications list is also very important to include in the contract. If you can include photos and specific details in the specs, all the better. The builder will appreciate working with someone who knows what they want, and has taken the time to research things. |