Working with new construction and builders is a big part of my business. Many of my clients choose to build their Charlottesville dream home and there are some excellent builder to choose from in our area. As your Charlottesville Buyers Agent I will help you though the process of finding the perfect building site and working with you and the builder to completion.
Many clients do not realize that there is no additional cost to you as builders see the fee paid to a buyers agent as a marketing expense. I have several builders that want to work with me because it helps with a smoother transaction and they know that I have experience in the building process. There are many challenges with building and I have even helped clients in the design of their homes. It is an amazing process and does require personal attention.
One thing clients need to be aware of is that I represent your interests, not the builders and this is a very important point.
Should you consider building?
This is an excellent question and I have posted some things to consider on my blog and below:
This is a big issue, as in most cases if you are going to buy land and build, it will cost you more to build that to buy a resale home. What happens is that for the perfect piece of land, lets use Albemarle County as an example, you are going to be looking at a price of 150K-300K+.
Then you want to add on the cost of building as this can be a wide range also. Say you are building a 2500 sf home. With decent finishes you are looking at anywhere from $175-$250+ per square foot (update for 2021: $250-$350+ per sf). And you can certainly spend more. So spend a few minutes adding this up so that you get a better idea of your true budget. Keep in mind that builders have certain fixed costs: material, labor, overhead and profit. If a builder owns the land, there may be some flexibility on these costs. More about this as we determine which builder and of course the land.
In most cases, I tell my clients that building a home is like having a baby (no not the pain), it takes about 9 months. Now many builders will build in about 5 months (one builder in the area says 3-4 month and this is a little scary to me, it is not a race). But if you take that 5 months and add time to design the home, site the home, get permits and obtain financing… well you get the picture. A total custom, working in the builders schedule, can certainly take an entire year.
Bet you did not see this as an issue. Do you have the personality to build? Are you typically inpatient? When building, one very important factor is to work with a builder that you get along with. This is a long process and requires a lot of interaction. I tell my clients that they are essentially “married” to the builder during this process.
So if you see this as an option, find yourself an excellent “buyers agent” who deals in new construction, understands the process and knows how to guide you before and during the build cycle. Their assistance is extremely valuable.