Buying an Unfinished Home maybe Your Answer

Written by Mark Donovan

Forrepparttar first time “want-to-be” homeowner, purchasing an unfinished new home maybe justrepparttar 100004 answer. With mortgage interest rates still at record lows, there has not been a better time to purchase a home in decades. However, home prices have dramatically risen overrepparttar 100005 past several years, and even with low interest rates, for somerepparttar 100006 dream of owing one’s own home has still remained out of reach.

Purchasing an unfinished home can save tens of thousands of dollars, thus enabling some prospective homeownersrepparttar 100007 opportunity to buy a house that they may not have otherwise afforded. Unfinished homes are particularly attractive to young couples with no children and who have limited financial resources. The unfinished home concept allowsrepparttar 100008 young couple to grow/finishrepparttar 100009 home as their family and financial resources do. In addition, ifrepparttar 100010 new homeowners are willing to put in sweat equity they can save significantly on finishingrepparttar 100011 home.

Typically an unfinished home has a completed kitchen, living room, bath, and at least one bedroom. This is pretty much required by mortgage lenders and building inspectors asrepparttar 100012 home would otherwise be considered unacceptable for living standards. In many two story unfinished homes,repparttar 100013 entire upstairs maybe left unfinished.

When purchasing an unfinished home there are a few items to consider first, such as; what isrepparttar 100014 expected timeline for finishing the

The 10 Most Important Rules of Choosing and Dealing With a Contractor

Written by Razmik "Raz" Vartanian

Building your dream home can quickly turn into a nightmare of unmet schedules, cost over runs, shabby workmanship and endless arguments.

I have been originating and closing construction loans for a good number of years now and I have experienced clients dumping contractors and even contractors dumping clients. By that time in most casesrepparttar job is running behind schedule and over budget. Choosing a new contractor at this stage is difficult and further delays are inevitable.

Spending a little more time and paying a little more attention torepparttar 100003 process of choosing your contractor can avoid all this.

In most casesrepparttar 100004 writing is onrepparttar 100005 wall fromrepparttar 100006 very first day, but wishful thinking gets inrepparttar 100007 way of logic, which leads to disaster downrepparttar 100008 road.

A good number of articles have been written onrepparttar 100009 subject, and you should try reading at least one or two well before making your choice of a contractor.

This article is based on my experience and personal observations. You may whish to writerepparttar 100010 main points down and add others that I have not covered and indeed add torepparttar 100011 list from your own experience of dealing with people. This way you will internalizerepparttar 100012 subject and become a naturally better judge of those you do business with.

Duringrepparttar 100013 processing of your construction loan, some information is collected fromrepparttar 100014 contractor but that should not stop you from your due diligence. Here is a list of items to check and to look out for:

1- If your state requires a state license, ask forrepparttar 100015 number. Don’t stop at that. Callrepparttar 100016 relevant state board and check onrepparttar 100017 license’s status. You don’t know who regulates contractors in your state? Ask Him/Her. And pay attention torepparttar 100018 reaction.

There is no need to be shy. A legitimate and honest businessman will have no problem providingrepparttar 100019 information. We are involved in a highly regulated business and we proudly providerepparttar 100020 relevant information along with phone numbers and links torepparttar 100021 state bodies on our About Us page.

2- Ask for references. Pay attention torepparttar 100022 reaction. Too quick a reaction and fast talk is probably a lie and a bluff. Too cautious a reaction is a sign of uncertainty. In any event writerepparttar 100023 names and numbers down and do call them. Go see them. Most people will actually welcome you simply to show off their achievement. 3- Are you building a home fromrepparttar 100024 ground up? Make surerepparttar 100025 contractor has built a complete project inrepparttar 100026 past. Experience counts; a ground up construction or a major remodel is a very different animal from room and bathroom additions.

4- Visit his/her place of business. Not all contractors have an office, but you need to make sure you are not dealing with fly-by-night operation.

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