Hello Ty, I came across your videos accidentally and I must say that they are HUGE blessing. At present, I'm in the gathering stage of the custom build process. I have jotted down so many things of interest. Please don't stop the videos they are a massive help.
Thank you sincerely for the compliment. I can't tell you how much I appreciate you taking the time to leave some kind words. I hope you hit the Subscribe button. LOL. Seriously though. I hope you have a great week.
It's so sad to see that your videos are so much under appreciated while rubbish videos get so much views. Anyways, I am from Australia and I am planning to build our first home and came across this video. This is the first time I have ever commented on UA-cam just to appreciate your video. Thanks for keeping it to the point and making it sound professional. Keep up the good work man
Thank you! I appreciate the compliment more than you know. It is shocking how much bad information is out there and how many people are consuming it. I’m just going to keep doing my best to put out honest information.
Thank you for all the information. My daughter and son-in-law plan on having a home built on a large piece of property they own. these are very helpful tips.
Question for you. What kind of video should I do on home builders or the home build process next? I'd love to hear your thoughts & where you're from. Also, if you're new to my channel, please subscribe & ring the bell to be notified each time I post new videos. Thanks!
All these top 10s helped. I plan on retiring after 20 years in the Army in Nevada. The one where you talked about the direction of the house faces really talked to me.
Thanks for your service. I'm honored I could serve you. Thanks for taking a moment to share & best of luck to you. Please let me know if you have any other questions.
@@sergeantolmos4929 Excellent question. I'm only familiar with Utah builders. So, I'll share this research. TOP 5 Highest Rated Builders 1. Taylor Morrison ⭐⭐⭐⭐⭐ 2. Ashton Woods ⭐⭐⭐⭐⭐ 3. Stanley Martin ⭐⭐⭐⭐⭐ 4. TriPointe Homes ⭐⭐⭐⭐⭐ 5. LGI Homes ⭐⭐⭐⭐⭐ I'd recommend you watch my video: Worst & Highest Rated Builders in America - ua-cam.com/video/b7DkmYMwRqE/v-deo.html
@@sergeantolmos4929 This is another great question. The agent at the model home represents the homebuilder. You want someone to represent you. Someone looking out for your best interests. I highly recommend hiring a Realtor before you talk to any builders. Best part, the builder will pay your agent. I belong to an agent referral network that connects people to top agents where they live. I'll put that link below. Let me know if you have any other questions... homeandmoney.com/ty/
Thank you so much. I’m under contract already buying a new construction & meeting with my builder tomorrow. This was very helpful in prepping me on what to ask.
Building a home in Utah.. biggest fear is not starting in the right season and building when things are at the peak.. just to have prices go down in a couple months 😣 also, picking the wrong contractor and having a bunch of hidden costs.
Those are legitimate concerns. Thank you for sharing. The Utah housing market peaked in May 2022. Then prices dropped the rest of the year, approx. $100k. But home prices have been increasing since the beginning of the year. Prices are up $42k in 2023. The next few months could be bumpy, but those who don't buy a home before 2024 will regret it. I'd love to chat with you before you start the process. I've helped 600 people build here in Utah & I know which builders provide the best service & value. Feel free to call/text me anytime at (801) 995-2337
Thank you for your time and efforts to inform. I am researching and taking notes on my initial phases of house hunting or building. I’m struggling settling on a house that doesn’t check all my boxes. So I may be building, yet my biggest fear is not finding a builder that is as transparent as I’d like. I understand my biggest leverage position is before the contract is signed, but will I be able to negotiate everything, such as paint, tile, fixtures etc. to ensure I know exactly what I’m building and getting before I sign. Next fear would be holding the builder accountable for things I see aren’t right such as shower waterproofing.
Thanks for watching. It sounds like you probably need to build, but you may have a hard time with it because the build process can be... tough & even sloppy sometimes. Most builders will not allow you to visit the design center before you write a contract. So there is some mystery or faith on your part. I suggest finding a small to mid size local builder that has a good online rating. Best of luck to you my friend. BTW, where are you looking to buy a home?
Mr. Wilde, thank you for sharing your passion with us. This is extremely helpful. I had no idea about a lot of the things you discussed. I took some really good notes to use in my future search of a builder. I truly appreciate this video. I will definitely watch more.
No, you are awesome. Thank you for taking a moment to compliment this video. I appreciate that more than you know & I get a lot of pride from helping people. Where are you building a home?
Im moving to dallas suburbs and my plan is to build tilt-up concrete walls. Makes it tornado proof. But i always like that clean, sleek, concrete, modern look. Ill add mahagony wood panels to accent the exterior, then add some yellow lighting to light house at night. Ive seen other homes like this and it looks rich, not to mention cheaper to build. Makes complete sense specially for tornado alley. Cant build basements in dallas due to unstable clay ground.
Ty, great job on this video- will have to check out your others. What scares me the most about buying a new construction home? Timing the sale of our current home, so that we can take the $300k equity and apply it toward our new home upon closing. If we don't sell in time we're stuck with two mortgages. And if we sell too early we have to beg the buyers to delay closing.
Yeah, sometimes it just doesn't go smoothly. Reach out to an agent in your area who has experience dealing with homebuilders. They should know a few strategies to help make this process go a little smoother. Where are you looking to build?
@@TyWilde man, you're quick with the reply, thanks. We're leaving Charlotte, heading down to the Orlando area- we've lived there before, which helps a bit. We'll be visiting about a dozen developments in April in various areas- I've researched everything to death, but still keep an eye out for useful videos like yours. I already had a good number of your questions on our existing checklist, but still modified a couple based on your video here. Thanks again.
@@casperthegm741 Oh man, moving from one state to another is extra tough, but Orlando... that would be nice. Utah has been extra cold. No joke, I've been looking for houses in Hawaii though I'm pretty sure my wife won't give me approval.
thanks for making this video, great questions. i am going to build a studio pretty soon for my channel, a 2 story building, about 13x35 feet. bottom floor will mostly be used as a storage/workbench area. the top floor will be used for my computer and vr set up, along with other things.
I would be interested how i approach builders about things like double walls or external insulation, airtight testing, using geothermal heat pump, and other things like rolling shutters and radiant heating. if am in the early planning process and aboug 4 years out of building. but i want to get a head start about at least current costs and see ahich builder is qualified and interesting for us to work with. thanks so much
Thank you so much Ty!! Very informative video, I wish I got to watch this before building our home 8 years ago, but it is still very helpful to me because we are going to build another house on a lake property. Oh, subscribed your channel as well. The things you mentioned and reminded are clear and easy to understand and follow. Thank you for your effort to educate people like me
Thanks for the compliment. I appreciate it more than you know. I'm glad I could help you & I'm grateful for the sub. Best of luck & please let me know if you have any questions.
@@TyWilde after watching your videos, I went to watch other realtors' as well, I have to say, I came back to this video and watched it for few more times till I became understanding more. Thank you so much for putting educational and informative videos for people like me. Appreciate your effort very much!! We are going through selecting construction company right now, could you send me the link of you did any video about the next step after picking out the company. Thank you
Ty Wilde Realtor & New Home Construction Specialist me neither btw our house had the waterproofing paper on the roof and almost all of the styrofoam and chicken wire was out on so I think 4 way this week depends how busy the city is but can’t wait for drywall.Whats funny is that the framers accidentally gave us a free door that would have cost us a couple hundred more.how we got it is initially we were supposed to get a door from the main master going outside to the patio but they accidentally put it on the second master and we chose to have the one in the main master they could’ve just blocked the frame off for the door but hey gotta be grateful of what you got.
You're very welcome. Thanks for watching. I will say this, they haven't been as aggressive with their price cuts. I know a few builders, one in particular that is offering insane incentives right now. Where are you looking to buy/build a home?
That is an excellent suggestion. I'm actually in the process of making an improved version of this video. I'll cover this in that video. Thanks for watching.
Thank you for the info. We’ve been stuck at receiving permits to start building in Florida. The process started 15 months ago. Long overdue the excitement to enjoy our home. Now we are thinking if the slow process is mainly the builder, the city, and/or COVID related. Could be all the above but who knows.
I am so glad I found your videos!! I’m in the process of buying a residential lot and I will be watching your videos over and over again. I thank you for your knowledge and expertise! I may have to contact you via email when questions come to mind.
If you’re building a home, write down these questions and any others that may be more specific to your own needs. This will greatly help you decide which builder is the best one to go with.
My fear is that the market corrects while my house is being built. Can you renegotiate at that time Ty? What happens if the appraisal comes back lower then what you paid?
I can totally understand that fear. You would want to have a good understanding of the market you're building. Most builders will NOT re-negotiate after the fact, but some great builders will drop your price if they drop the prices in that community. If the appraisal come back low, the builder will still expect you to close. Seldomly would the builder meet you in the middle on that. You will want to hire a good Realtor & make sure you select a good builder.
Thanks for the information, I’m in the middle of building my home but I’m finding all sort of mistakes from toll brothers. I asked for 9 foot basement ceiling i got 8 1/2, 1 inch crack in the foundation which they fixed, molding in the garage door is chipped, kitchen cabinet doors are all uneven, spindle on the railing is split. Whenever i complain, they say they’ll take care of it but nothing gets done. I don’t know what to do...please help.
This one may take some deeper thought but I would order a home inspection. Find an inspection company that has experience with new construction. Please let me know if you have any other questions. Oh, & let the builder know that you'll be hiring an inspector.
That is an excellent question. First time homebuyers don’t benefit any differently than any other buyer. But, the benefits of building over by an existing are massive. And, I think it’s an incredible time to build a home. What state are you looking to build a home in?
@Ty the Real Estate Guy - Utah Real Estate I am building in Ohio. I am meeting with a local builder tomorrow and I want to arm myself with knowledge (hence watching your videos 🙂) but also to see where I can save money especially since I am doing it by myself.
@@zelayameadows6822 awesome. Congratulations! Thanks for watching my videos. If it’s not too late, you might want to reach out to a real estate agent who has some new home construction background.😀👍🏼
I recently looked at a new home community with Richmond American. A few days later, I was told that the prices of the homes are getting ready to go up at least 2,000. How much are builders allowed to raise the prices? Also, how much do you think the prices could be increased from now until Dec of this year of the base price of one home is 326,000?
Thanks for watching my video & for your excellent question. Home builders can increase their homes as often as they like & they usually do it for 2 reasons. #1 because they're selling more homes than they were expecting #2 to keep up with pricing in the area. If they say they are raising prices, I would believe them & be prepared for prices to go up more than the $2,000 because you never know what they'll do. As far as predicting prices that is tough to do especially with the Coronavirus potentially coming back in the fall. I'm guessing home prices won't skyrocket this or next year but they could continue to climb depending on your market. Where are you looking to build a home?
Hi Ty, thanks for sharing. Definitely some great info. During the building process are home owners allow to add blocking for future add ons. Example tv locations, cabinets in the garage. And when can that be done?
Thanks for the compliment & for the excellent questions. Most builders will NOT allow you to add anything, but it never hurts to ask. Always ask. I had a client add some electrical just before the sheet rock went on & when the builder noticed they ripped it all out before even speaking to the buyer.
Thanks for watching & for your comment. Yes, a fence & the yard can be tough. I usually recommend, if you have the money, to get the landscaping done by the builder before you close on the house especially when mortgage rates are so low.
That's exciting. Just so you know, I have approximately 100 videos on the home build process. You'll want to subscribe to my channel. And, please if you have any questions along the way, don't hesitate to ask. BTW, where are you looking to build a home?
Thanks for all the videos, they are amazing. What scares me is that we bought land in the country, 1 hour from where we currently live/own. That being said, the possible inability to keep an eye on the build from this distance.
Yeah, that's tough. I built 30 minutes away & I was taking a lot of long drives. I also put up a lot of NO TRESPASSING SIGNS. Try that & Just do it. Congratulations. BTW, if you have any questions, don't hesitate to ask.
🕊✨ Good Afternoon. I Really Appreciate Your Videos. This is An Outstanding One. What Afraid Me the Most Is The Honesty of The Sales Person That Works For The Builder and The Development. We are Looking in To Build at South Texas. We Are Not Quite Clear How the Real State Person Commission Gets Paid in The State. Again This Video Will be in Our Personal Library In The Process of building our Brand New Home. 🏡 Thank You! Have a Pleasant Evening.
Thanks for sharing. Just make sure everything is in writing. I'd guess the builder pays the agent so I'd interview agents who have experience selling new construction to represent you. Best of luck.
I don’t, but it’s the first investing strategy that my wife and I used. We would live in one house while building another. Then we would sell the house we were living in 2-3 months before The other house was completed so we could build equity in two homes while only having one mortgage. Then, we would move into the brand new home and do the same thing again. It’s a great strategy but a little more risky because the market could change during the build process and leave you in a tough situation. Where do you live? How was your market?
We have 2 acres of land that is paid for and want to use it as a down payment will we still have to come out of pocket for the build process. We are looking at either fha construction or usda construction. Any advise on this. Love your videos by the way they have been most helpful.
Thanks for watching and for your excellent question. I’ve actually never done anything like what you’re talking about. So unfortunately I wouldn’t know how to advise you. It sounds like you’re in a good position though. Best of luck to you.
My biggest fear is the timing--what if I can't sell my current home in time for closing? Or what if I sell too early and have no place to live for months? I'm now also worried about the construction deposit--I didn't even know that was a thing, so thank you for warning me!
Unfortunately when a lot of people build a home if they have a home to sell end up homeless for 2-3 months. My wife & I just stayed with family but you may be able to find someone who would rent to you month to month.
I have the same worry as you. Thankfully my parents live 15 miles from us and we plan on listing on our home a month before spring school ends. That gives us enough time to close by the time the kids are out of school and we don’t worry about school schedules during the summer while we live at my parents house. Eventually we’l have to drive a bit more after the summer ends but it’s only temporary. Hope things work out for you.
So I know I want to build a custome home. The ones I did look at did not completely check off list. I did start to screenshot the cabinets bathroom flooring the paint colors for my walls, type of appliances I want, finish basements and all sorts of things. I looked through different homes to get ideas on what I want, like chandeliers, doors and other things like HVACs room size, etc. I'm pretty sure I'm missing a few things but I'm giving myself options to see what I want. My only fear is the length of time it will take because it's a custom home. Also, what alternative housing while it's being built. I was thinking of having a prefab home and later after moving to the main house, using the smaller to rent out. Another thing I looked at is lands. I look at homesites and undeveloped lands. I know for the undeveloped lands will add more time to be cleared so they can build. I find a lot of land to be cheaper but I have found some homesite lands with a great price. Depends on where and how much land it has. If there was anything I missed, let me know so I can add that to my list.
Thank for sharing. I would personally stick to developed homesites. Undeveloped land, especially if it doesn't have sewer, water & electrical can be very expensive to develop. Best of luck to you.
@@TyWilde so if the only thing available is undeveloped land, what's the best way to choose? I did find some that had utilities available, but should that be the only thing to look for?
Sorry, I'm just seeing this message. If possible, you'll want to find a homesite that has been developed. If not, find a piece of land in a location you love & make sure it's zoned residential. From there you'll need to stub everything yourself. Please let me know if you have any other questions.
I saw some of your videos and you are very information. I have never brought a home and am in the beginning stages of researching home builders. A lot of little things that are not mentioned while looking at model homes. My question to you is does a buyer have to put down 10% or 20% down payment along with the $1k deposit and the construction deposit? Thank you 👌
Glenda Garcia First of all, thank you for watching my videos and thanks for your excellent question. Most builders want a earnest money deposit plus a construction deposit. That dollar amount is different from builder to builder. Your final total down payment depends on what you decide with the lender, but for a conventional loan you can go as low as 5% down. Does that answer your question?
@@glendagarcia9203 Wow, that gives you a lot of options. Keep me posted on how it goes & best of luck to you. If you have any questions please don't hesitate to ask.
Thank you for your insights. We are looking to build with Maronda homes in Brevard county Florida (500-600k range). Meeting to work out the final numbers at the end of the week. They require 3.5% down. My biggest concern is rising interest rate. It will take 12 months to complete, interest rate is already over 5.4% today for the most qualified borrowers, how high will it be then? 7%? 8? It will surely drive many ppl away, myself included, and it's my biggest hesitation with the new build. A big risk!!
That's a valid concern. I recently shot a video explaining why you shouldn't build a home in 2022. You'll want to watch that video before you finalize anything. Here's the link... ua-cam.com/video/7DR4Nki13zw/v-deo.html And, BTW, you may want to speak to lenders in your area because some lenders will allow you to do a 1 year rate lock. Just be careful that you don't lock too soon.
@@TyWilde Thank YOU for making such wonderful videos! I’m seriously considering moving to Eagle Mountain. What builder would you recommend? I looked at a few Ivory models but in one of your videos you mentioned they’re a little overpriced.
@@ThinkHarderPlz Yeah, Ivory isn't the best value in the area. The best builder is subjective so I always try to find what's most important to my client. If it's price I have one that kills 'em all, but the home isn't fancy. If you're looking for a great looking home with loads of upgrades & you're willing to pay a little more, I like Fieldstone. I'd love to meet with you & go see some builders. There's actually a new builder I've been meaning to check out.
This is a great question. I would say at this point it’s probably a little too risky for multiple reasons. Number one, we don’t know where mortgage rates will be by the time the home is finally completed and number two home prices will not continue to increase at this rate. It may be slowing down already. It would have been an amazing plan two years ago.
This video will answer your question & explain why you might not want to build a home right now. And, it's my most popular video this year. Here's the link... ua-cam.com/video/7DR4Nki13zw/v-deo.html
Great video! Very streamlined and easy to understand... one question! You mentioned in Question 2: Preferred Lenders, that it's best to be pre-approved by both an outside lender and the preferred lender... will this negatively impact your credit thereby lowering the possible approval from whichever lender is run second? Again, I'm super new, so forgive me if this is a "duh" question! Thanks again 😊
Thanks for the compliment & for watching. It's actually an excellent question. I'm not an expert on credit scores, but it's my understanding that you'll only get hit the first time one of the lenders runs your credit. So, you could have 3-4 different lenders run your credit & it shouldn't hurt things too much. Please let me know if you have any other questions & best of luck to you on your journey.
I was actually just notified by credit karma that I have a 2 week window from the first hard inquiry, to shop around and find a rate, before subsequent inquiries will start affecting my credit score.
Would you mind help, we are looking to build. We have 4 acres inherited but our in laws house own the 1 acre in front of us. So if we build our house won’t be seen as their house is in front. But we do need to add a septic tank, it’s in the country. we want to build. But are worried that later on in life we will want another home and selling would be a problem as family lives on the front acre. Should we just find a smaller 1-2 acre lot and wait to build on the 4 acres later on in life?
This is an interesting & unique situation. There's not really an easy answer & I don't think I have enough information. Do you need to drive on their property to get to your 4 acre lot or is there already a road or driveway leading to the property?
@@TyWilde yes we would have to go through theirs to get to the 4 acres. We are stuck on to build on the land, as that will help with the down payment but we have to add a septic tank.
@@adriannawalker1056 Issues often arise when you have to drive on other peoples property to get to yours especially if ownership changes for some reason. I would probably build a home somewhere else & move to that location in the future when you're ready to build your "Final Home." Hopefully that helps. Please let me know if you have any other questions.
Ty, my realtor and builder use the same preferred lender. (Separate but preferred lender) I knew my realtor did but found out about the builder using this lender after a random visit to a new build neighborhood. Should I trust these guys because they all know one another? Or is having them all In cahoots a bad thing for me? Is this a good or bad idea to work with them all. Is this a trustworthy situation? Or should I feel even more protected and secure that they will get things done quickly and swiftly?
Thanks for watching & for your excellent question. I get asked this question all the time so I made a video that will answer your question. Here's the link... but first, please let me know if you have any other questions. To give you the short answer it's probably a good thing because I know as a realtor I only want to use the best lender for a lot of reasons. That being said, you should always get a second quote from another lender. Here's that link. ua-cam.com/video/CHKe0bI0AgY/v-deo.html
@@TyWilde wow! Thanks for such a fast response. I have watched a ton of your vids already and I’m going to watch more. Just subbed! Thanks for the info!
@@TheStylePilot Thanks for watching & even more so for subscribing. I appreciate that more than you know. I take a lot of pride in helping people. Please let me know if you need anything else.
Hi, been listening to so many different sites about buying new construction home and older homes...so what is the way to find out which home builders has the most positive review in their homes and warranties and upgrades without overcharging...we are 1st time homebuyers... and decide ding whether getting a price lesser home (new construction also vs a slightly bigger 2 story and spending the upgrades on the lower priced new construct home instead? Also any new info on January 2021 real estate market with new construction homes... in order to get a lower price new construct we had to look further north like 30 minutes to 40 min drive from Marin county (where I lived for 30 years rentin)g.. and hour to SF area...there are 2 builder we were interested in their homes next to each other basically same area...Signature Homes and KB homes
Thanks for watching & for your comment. I appreciate it more than you know. Just do some online research on the builders. There should be multiple sites with reviews. You can also talk to the people who already live in the new home construction neighborhoods that you're considering & ask them how their experience was. I'm not familiar with Signature but I do like KB. Best of luck & please let me know if you have any other questions.
Hi Ty, been watching your videos for a while now. Wish i ran across you before I built my first house. It has been a disaster and still having issues now. My question is, how in the world did the village pass so many things on my house that shouldn't never have been passed. I'm figuring how how could they have passed so many flaws. 😫 I am stressed. What advice do you have for me.
I'm so sorry. I've heard a lot of stories lately about build jobs gone wrong. It appears a lot of homebuilders have been cutting corners. How long have you been in your home?
@@san7723 I was afraid you'd say that. So no more warranty. I'm guessing you've written a detailed letter to the builder stating everything that has gone wrong, without exaggerating? If not, start there. If that hasn't gotten you anywhere you can try the Better Business Bureau. Who's the builder?
Well, I can't state the name because I have been fighting the builder in court for a year and a half. It's amazing that he knows the things he did and won't own it so we can move on.
Excellent Vid. I wish I saw this before. I’m building a Keystone Custom in Pa. They asked if I wanted to upgrade the basement to 9ft ceilings. I opted to leave it at 8ft and finish it later. I did a design change to remove two posts from the basement to create open space. They said they had to install a reinforced steel beam. Now it’s installed and the beam is taller and sits at 6’ 6” from the floor. Didn’t see anything that said it’ll be that low. The ceilings are at 7’9” and the design say 8’ High Main House Basement Walls! We got screwed! No idea what to do!
Man, I’m sorry to hear. That is a huge bummer. This is the exact reason why I make these videos. Hopefully I’ve helped many others avoid the same sorts of disappointments. Please let me know if you have any questions and thanks for watching.
@@basimms007 you could probably right I strongly worded email and the builder may return earnest money deposit… Maybe. Honestly, most builders protect them selves pretty carefully in the contracts so realistically, there’s probably not much you can do. If you’ve built some good equity, you could sell the house and build again with someone else somewhere else. Hopefully that helps.
I have a video coming out in a few days that should really help you. Keep your eyes out for that one. Quick answer… Stay well below budget, find a lender or homebuilder that will offer a long-term rate lock or, you could always purchase a builders spec home. Please let me know if you have any other questions and hopefully this helps. Best of luck.
Could you also add that at closing , your walk through with the builder, you find issues how you can hold the builder to fix issue in a" timely manner". They will promise you to fix the issue so that you'll close. But after that, some builder drag their feet out. Would you recommend having the a lawyer review your contract for the construction prior to signing it ?
Yeah, that's a great suggestion. I've seriously got 24 videos in my back log but this is definitely something to consider. Thanks for watching & for your comment.
Thanx for knowledge. I have questions ,can we buy materials like tiles , toilet seats and kitchen cabinet materials and provide the builder bcs builder I’m planning to buy a house showing us the upgrades materials with limited variety and charging more than 3 times than market . Example i saw the tiles in Home Depot that I liked will cost 5500 dollars including tax and the same tile builder us charging 20000 dollars and even not deducting the cost of carpet that should be given to us in standard cost of home. Is there any possibility that we can fight with that or we have to take permission from city . This is in Southern California
Thanks for watching & for your EXCELLENT Question. The answer is most likely no. Most builders will not allow you to do this & there are a lot of good reasons. Some bad ones too, like they want to make more money off of you. But you can always ask. In most situations, you will need to leave the standard options in the home & then replace them later. I hope this helps. Best of luck to you my friend.
I have my own lot. I found many topics on this video useful. I want to choose a good contractor and am checking CSLB, BBB and Yelp but it is very risky. I will have about 250k readily avail and a private lender to get me thru construction then I can get a standard mortgage. Impact fees are costly... In California ( my county) I am looking at $75k in impact fees for schools, parks and library. I am nervous about doing this. The plans I chose are 2053 sq ft with a 2 car 550 sq ft garage single story. We are required to have energy calcs called title 24, sprinklers and solar. I fear that costs are excessive.
Yeah, when you're building custom, there are a lot of unknowns. Really, it's something that I wouldn't really be comfortable advising you on. I guess I could recommend selling the homesite & moving to a location where you wouldn't have the crazy fees. Either way, best of luck to you & please keep me posted on your progress.
Very informative. Can you pls give some insights on land/construction loan and how much % of money would lender give approx.? Also how to find where a lot is good for construction & what if un-developed lot.
Thanks for the compliment. I actually don't deal with the construction loan part of the process, but I'll see if I can find some time to look into it for you. I will also look into doing a video on the development of the lot.
What scares me the most is not know the extra fees, and cost other than down payment, closing cost. Like hidden cost we are doing research now and saving for our down payment and closing cost what others should we be saving for. We won’t be buying until 2024. We just want all the up front cost and any fees saved up so we do t have surprises. All I keep hearing is down payment and closing cost. But I’m pretty sure there are others please help. Thanks
That’s an excellent question. Really, closing cost and down payment are your only real fees. If you build a home from scratch though, the homebuilder could charge fairly high construction deposits. Where are you looking to build a home?
Ha Ha. You're crackin' me up. I'm not aware of anything unless you can qualify for a VA loan or maybe Rural housing. I'd check with a local lender, but for the most part, at least for most of us, we just have to pay it.
You know, to add to what I just wrote, You can put down as much as you can afford & if you live in a location where prices are increasing you can get the house reappraised a year or so later when it's worth more & get rid of the mortgage insurance that way. I've done it that way twice.
Thanks for watching & for your excellent question. It's one I've never heard before. I guess you could ask your friends & family if they know a good general contractor... or google it. They'd be able to give the home a good look over through the different phases. You'd probably only need them to take a look right before the 4-way inspection. Just so you know, I've done loads of videos on the home build process & the different stages of the process so you know what to look for throughout. I'd recommend starting with my video on the 4-way process. Best of luck to you. Here's the link... ua-cam.com/video/19t9pCTEn20/v-deo.html
So we own a lot and are looking for a builder for sometime this year. My concern is that most builders will require the full down payment first since we own the lot. In your experience is that something we could negotiate with a substantial earnest payment + a mortgage qualification? Selling our home too early would leave us homeless 😬
Yeah, we built our last home the same way. It's a lot harder than building with a track builder. We took out a construction loan & paid the builder as we went. I'm pretty sure that's how most custom builders work, but you'll just need to ask them how they'd like you to do it. Did that answer your question? Where are you building?
Probably not. Builders save a lot of money on land because they'll buy large parcels all at once. On top of that it's usually more expensive to use a custom home builder. Where are you looking to build a home?
I've spent the last 15+ years representing builders. I know better than most that they are not perfect & I'm not going to defend that. It's just that there are a lot of things that people don't have control over & I want people to understand that before they commit. Thanks for watching & for your comment.
Hello Ty, I came across your videos accidentally and I must say that they are HUGE blessing. At present, I'm in the gathering stage of the custom build process. I have jotted down so many things of interest. Please don't stop the videos they are a massive help.
Thank you sincerely for the compliment. I can't tell you how much I appreciate you taking the time to leave some kind words. I hope you hit the Subscribe button. LOL. Seriously though. I hope you have a great week.
@@TyWilde I have subscribed...thank you again.
@@ClaudetteClark Yes! Thank you.
It's so sad to see that your videos are so much under appreciated while rubbish videos get so much views. Anyways, I am from Australia and I am planning to build our first home and came across this video. This is the first time I have ever commented on UA-cam just to appreciate your video. Thanks for keeping it to the point and making it sound professional. Keep up the good work man
Thank you! I appreciate the compliment more than you know. It is shocking how much bad information is out there and how many people are consuming it. I’m just going to keep doing my best to put out honest information.
Thank you for all the information. My daughter and son-in-law plan on having a home built on a large piece of property they own. these are very helpful tips.
Thanks for watching. Glad it was helpful!
This is one of the best videos on UA-cam for those preparing to build a home.
Yes. Yes it is!
Question for you. What kind of video should I do on home builders or the home build process next? I'd love to hear your thoughts & where you're from. Also, if you're new to my channel, please subscribe & ring the bell to be notified each time I post new videos. Thanks!
Maybe what kind of things you can do yourself to save money if your contractor allows this.
@@debracummins541 That is a great suggestion except for right now, homebuilders aren't allowing anyone to anything. These are truly strange times.
appreciate. What a great list of questions that I need to ask new construction.
Thanks for the compliment & thanks for watching.
All these top 10s helped. I plan on retiring after 20 years in the Army in Nevada. The one where you talked about the direction of the house faces really talked to me.
Thanks for your service. I'm honored I could serve you. Thanks for taking a moment to share & best of luck to you. Please let me know if you have any other questions.
@TyWilde In your opinion, who are the top 3 biggest builders with the best reputation?
@@sergeantolmos4929 Excellent question. I'm only familiar with Utah builders. So, I'll share this research. TOP 5 Highest Rated Builders
1. Taylor Morrison ⭐⭐⭐⭐⭐
2. Ashton Woods ⭐⭐⭐⭐⭐
3. Stanley Martin ⭐⭐⭐⭐⭐
4. TriPointe Homes ⭐⭐⭐⭐⭐
5. LGI Homes ⭐⭐⭐⭐⭐
I'd recommend you watch my video: Worst & Highest Rated Builders in America - ua-cam.com/video/b7DkmYMwRqE/v-deo.html
@TyWilde Is it better to use the agent on the builders' site or use my own agent?
@@sergeantolmos4929 This is another great question. The agent at the model home represents the homebuilder. You want someone to represent you. Someone looking out for your best interests. I highly recommend hiring a Realtor before you talk to any builders. Best part, the builder will pay your agent. I belong to an agent referral network that connects people to top agents where they live. I'll put that link below. Let me know if you have any other questions...
homeandmoney.com/ty/
Thanks for the information.
Any time! Thanks for watching & for taking a moment to leave a comment.
Have you selected a homebuilder?
Wow your amazing and so patient getting into detail of going about building a house ❤
Thanks for watching for the compliment.😀👍🏼
THANKS
You're welcome! Thanks for watching my video & for leaving a comment.
@@TyWilde You are building a house for me in California
HAMED - I am? How come I didn’t know that? You might need to explain this to me...
Great info. I am meeting with the third builder tomorrow.
That's great!! Good luck! Where are you building a home?
Great video thanks! My six month build just started👍
You are very welcome. Best of luck to you!
Thank you so much. I’m under contract already buying a new construction & meeting with my builder tomorrow. This was very helpful in prepping me on what to ask.
Glad it was helpful! Thanks for watching & best of luck to you.
Wow Ty,
Thank you bud! Really really helpful and I’ll be sharing it with anyone looking to build a new home.
Thanks for the compliment & for taking a moment to leave a comment. I really appreciate it.
Are you looking to build a home yourself?
Thank you Ty.
You are so welcome! Thanks for watching & for your comment.
Have you started the home build process yet? Where are you looking to build?
Thanks for making this ! Lots of helpful info and things to think about. I'll definitely check out your other videos.
You’re welcome. Thanks for watching. I appreciate it more than you know.👍🏼
Building a home in Utah.. biggest fear is not starting in the right season and building when things are at the peak.. just to have prices go down in a couple months 😣 also, picking the wrong contractor and having a bunch of hidden costs.
Those are legitimate concerns. Thank you for sharing. The Utah housing market peaked in May 2022. Then prices dropped the rest of the year, approx. $100k. But home prices have been increasing since the beginning of the year. Prices are up $42k in 2023. The next few months could be bumpy, but those who don't buy a home before 2024 will regret it. I'd love to chat with you before you start the process. I've helped 600 people build here in Utah & I know which builders provide the best service & value. Feel free to call/text me anytime at (801) 995-2337
Thank you for your time and efforts to inform. I am researching and taking notes on my initial phases of house hunting or building. I’m struggling settling on a house that doesn’t check all my boxes. So I may be building, yet my biggest fear is not finding a builder that is as transparent as I’d like. I understand my biggest leverage position is before the contract is signed, but will I be able to negotiate everything, such as paint, tile, fixtures etc. to ensure I know exactly what I’m building and getting before I sign. Next fear would be holding the builder accountable for things I see aren’t right such as shower waterproofing.
Thanks for watching. It sounds like you probably need to build, but you may have a hard time with it because the build process can be... tough & even sloppy sometimes. Most builders will not allow you to visit the design center before you write a contract. So there is some mystery or faith on your part. I suggest finding a small to mid size local builder that has a good online rating. Best of luck to you my friend. BTW, where are you looking to buy a home?
Have you started the homebuilder process yet?
If you’re looking to build a home, this is a must watch video!
Yes it is. Thanks!!
Very helpful ,thank you so much🤟
You're welcome so much. Thanks for watching.
Also, best tips ever. Look at several, your video is the most helpful.
Glad it was helpful! Thanks sincerely for the compliment!!
Mr. Wilde, thank you for sharing your passion with us. This is extremely helpful. I had no idea about a lot of the things you discussed. I took some really good notes to use in my future search of a builder. I truly appreciate this video. I will definitely watch more.
You are very welcome. I'm so glad I could help. Please let me know if you ever have any questions.
You are awesome! YEARS of expirience in 20 minutes. Thank you!!
No, you are awesome. Thank you for taking a moment to compliment this video. I appreciate that more than you know & I get a lot of pride from helping people. Where are you building a home?
Im moving to dallas suburbs and my plan is to build tilt-up concrete walls. Makes it tornado proof. But i always like that clean, sleek, concrete, modern look. Ill add mahagony wood panels to accent the exterior, then add some yellow lighting to light house at night. Ive seen other homes like this and it looks rich, not to mention cheaper to build. Makes complete sense specially for tornado alley. Cant build basements in dallas due to unstable clay ground.
@@dreday4177 That sounds amazing. I'd like to see it when it's done. Stay in touch.
👍
@@dreday4177 I look forward to hearing from you in the future.
Thanks so much for making this Video. I am a first time buyer. This is very educational and open my eyes to questions I should ask....
That’s awesome! Thank you for watching my video and for your comment. Where are you looking to buy a home?
@@TyWilde Daytona Beach Florida ⛱
@@god1stfamily233 Oh man, I love Florida. Wish I was there now. So cold in Utah right now.
Ty, great job on this video- will have to check out your others. What scares me the most about buying a new construction home? Timing the sale of our current home, so that we can take the $300k equity and apply it toward our new home upon closing. If we don't sell in time we're stuck with two mortgages. And if we sell too early we have to beg the buyers to delay closing.
Yeah, sometimes it just doesn't go smoothly. Reach out to an agent in your area who has experience dealing with homebuilders. They should know a few strategies to help make this process go a little smoother. Where are you looking to build?
@@TyWilde man, you're quick with the reply, thanks. We're leaving Charlotte, heading down to the Orlando area- we've lived there before, which helps a bit. We'll be visiting about a dozen developments in April in various areas- I've researched everything to death, but still keep an eye out for useful videos like yours. I already had a good number of your questions on our existing checklist, but still modified a couple based on your video here. Thanks again.
@@casperthegm741 Oh man, moving from one state to another is extra tough, but Orlando... that would be nice. Utah has been extra cold. No joke, I've been looking for houses in Hawaii though I'm pretty sure my wife won't give me approval.
Great video, thanks!
Glad you liked it! Thanks for the compliment.
thanks for making this video, great questions. i am going to build a studio pretty soon for my channel, a 2 story building, about 13x35 feet. bottom floor will mostly be used as a storage/workbench area. the top floor will be used for my computer and vr set up, along with other things.
That sounds amazing! I’m kind of jealous. Thanks for watching my video and for your comment.
I would be interested how i approach builders about things like double walls or external insulation, airtight testing, using geothermal heat pump, and other things like rolling shutters and radiant heating.
if am in the early planning process and aboug 4 years out of building. but i want to get a head start about at least current costs and see ahich builder is qualified and interesting for us to work with.
thanks so much
Yeah, you would definitely need to talk to custom homebuilders for those type of things. Best of luck to you.
Ty, thank you. Each videos you made are informative and amazing. Some videos I look twice to prevent missing any details. I also love those recap..
Thanks for the compliment, for watching my videos & for your comments. I really appreciate you.
Thank you for sharing this information it was very helpful.
I'm glad I could help. Where are you building a home?
Knowledge is power. Thank you for sharing
Exactly! Thanks for watching & for your comment. Are you building a home somewhere?
I wish you were my realtor rn I am freaking out 😂 I’m worried about options, closing, CONTRACTS and working with the wrong realtor! Ahhh 😂😂
Thanks for the compliment. I appreciate it more than you know. Where are you building a home?
Thank you so much Ty!! Very informative video, I wish I got to watch this before building our home 8 years ago, but it is still very helpful to me because we are going to build another house on a lake property. Oh, subscribed your channel as well. The things you mentioned and reminded are clear and easy to understand and follow. Thank you for your effort to educate people like me
Thanks for the compliment. I appreciate it more than you know. I'm glad I could help you & I'm grateful for the sub. Best of luck & please let me know if you have any questions.
@@TyWilde after watching your videos, I went to watch other realtors' as well, I have to say, I came back to this video and watched it for few more times till I became understanding more. Thank you so much for putting educational and informative videos for people like me. Appreciate your effort very much!! We are going through selecting construction company right now, could you send me the link of you did any video about the next step after picking out the company. Thank you
@@pc0086 I love it. Thank you so much for the compliment & best of luck to you.
Nice Haircut! Thanks for the advice. I like ya cut g
Thanks my friend. I'm actually due for another chop chop! Ha ha.
Ty Wilde Realtor & New Home Construction Specialist Haha 😆
@@dylantran5646 I do not like my hair long.
Ty Wilde Realtor & New Home Construction Specialist me neither btw our house had the waterproofing paper on the roof and almost all of the styrofoam and chicken wire was out on so I think 4 way this week depends how busy the city is but can’t wait for drywall.Whats funny is that the framers accidentally gave us a free door that would have cost us a couple hundred more.how we got it is initially we were supposed to get a door from the main master going outside to the patio but they accidentally put it on the second master and we chose to have the one in the main master they could’ve just blocked the frame off for the door but hey gotta be grateful of what you got.
@@dylantran5646 Cool. It's moving right along.
Ty, thanks for your videos, what do you think about richmond american here in utah? any experience with them?
You're very welcome. Thanks for watching. I will say this, they haven't been as aggressive with their price cuts. I know a few builders, one in particular that is offering insane incentives right now. Where are you looking to buy/build a home?
Or... I guess I should have asked you, what incentive are they offering you?
Great explanation!! Thank you. TY
Glad it was helpful!
Glad it was helpful!
SUBSCRIBE to My Channel for the MOST Accurate & up-to-date UTAH Housing News & Statistics.
Click HERE: ua-cam.com/users/TyWilde
Dude, this video is excellent. Thanks!
Thank you sincerely for the compliment & for watching my video! Glad I could help you.
Great video Ty, this 10 questions are going on my check list for new buyers. Thanks again
Thank you so much for watching & for the compliment. Best of luck to you & please let me know if you have any other questions.
Awesome info. You've earned a subscriber👊🏿
Welcome aboard & thanks for the compliment!!
Phenomenal info Ty. Thank you!!
Glad it was helpful! Thanks for the compliment & for watching.
I would add the question of does the builder accept any contingencies (e.g. to sell current home).
That is an excellent suggestion. I'm actually in the process of making an improved version of this video. I'll cover this in that video. Thanks for watching.
/Wonderful video!! thank you
Glad you enjoyed it. Thanks for taking a moment to leave a comment.
Thank you for the info. We’ve been stuck at receiving permits to start building in Florida. The process started 15 months ago. Long overdue the excitement to enjoy our home. Now we are thinking if the slow process is mainly the builder, the city, and/or COVID related. Could be all the above but who knows.
Yeah, I'm guessing its a combo of all of them. That sucks though. Hopefully things will start moving along for you.
Phenomenal Info Ty!
@@TyWilde You’re most welcome! Have a wonderful Friday evening & weekend!
@@shaun9100 Thanks. You too.
Thanks for your insightful advice!
Thanks for the compliment & for watching my video. Where are you looking to build a home?
This was very informative 👏 👌 . Thank you 😊
You are very welcome. Thanks for watching & for your comment.
Thanks Ty, just signed and reserved our lot!
Yes! That's AWESOME! Keep me updated on the progress & please let me know if you have any questions. Where are you building?
@@TyWilde Will do, we’re building in Central CA!
@@Roloflor Awesome. Best of luck to you my friend.
Can you make a video on LAND INSPECTIONS / DUE DILIGENCE???
Great suggestion. Unfortunately, that is something that I don't have enough knowledge on.
I am so glad I found your videos!! I’m in the process of buying a residential lot and I will be watching your videos over and over again. I thank you for your knowledge and expertise! I may have to contact you via email when questions come to mind.
Thanks for watching. Best of luck.
If you’re building a home, write down these questions and any others that may be more specific to your own needs. This will greatly help you decide which builder is the best one to go with.
Great advice.
Great content/info- thanks Ty!
Glad it was helpful! Thanks for watching & thanks for taking a moment to comment. I appreciate you more than you know.
My fear is that the market corrects while my house is being built. Can you renegotiate at that time Ty? What happens if the appraisal comes back lower then what you paid?
I can totally understand that fear. You would want to have a good understanding of the market you're building. Most builders will NOT re-negotiate after the fact, but some great builders will drop your price if they drop the prices in that community. If the appraisal come back low, the builder will still expect you to close. Seldomly would the builder meet you in the middle on that. You will want to hire a good Realtor & make sure you select a good builder.
@@TyWilde Then my only other option would be to walk away. I would rather lose the earnest deposit than start 50k in the hole on the value of my home.
Thanks for the information, I’m in the middle of building my home but I’m finding all sort of mistakes from toll brothers. I asked for 9 foot basement ceiling i got 8 1/2, 1 inch crack in the foundation which they fixed, molding in the garage door is chipped, kitchen cabinet doors are all uneven, spindle on the railing is split. Whenever i complain, they say they’ll take care of it but nothing gets done. I don’t know what to do...please help.
This one may take some deeper thought but I would order a home inspection. Find an inspection company that has experience with new construction. Please let me know if you have any other questions. Oh, & let the builder know that you'll be hiring an inspector.
@@TyWilde ty
@@lionelseeram452 Yes?
How do first time home buyers benefit from new constructions? Are there any incentives?
That is an excellent question. First time homebuyers don’t benefit any differently than any other buyer. But, the benefits of building over by an existing are massive. And, I think it’s an incredible time to build a home. What state are you looking to build a home in?
@Ty the Real Estate Guy - Utah Real Estate I am building in Ohio. I am meeting with a local builder tomorrow and I want to arm myself with knowledge (hence watching your videos 🙂) but also to see where I can save money especially since I am doing it by myself.
@@zelayameadows6822 awesome. Congratulations! Thanks for watching my videos. If it’s not too late, you might want to reach out to a real estate agent who has some new home construction background.😀👍🏼
Hi do you have experience with Pulte homes? I've read horrible stories on quality.
I don't. If a builder has a bad rep, I'd find one that doesn't. Best of luck to you.
Daaaaang brother lol👍🏻👍🏼👍🏽👍🏾👍🏿👍
I know, right?!
very informative---i would like you to do a video on common problems that homeowners run into with their homebuilders
Hey, that's a great suggestion. I've got about 5 videos in the process, but I'll seriously consider this one.
@@TyWilde thanks again for the videos
@@heavenlysunshine1891 Of coarse. Thanks for watching.
I recently looked at a new home community with Richmond American. A few days later, I was told that the prices of the homes are getting ready to go up at least 2,000. How much are builders allowed to raise the prices? Also, how much do you think the prices could be increased from now until Dec of this year of the base price of one home is 326,000?
Thanks for watching my video & for your excellent question. Home builders can increase their homes as often as they like & they usually do it for 2 reasons. #1 because they're selling more homes than they were expecting #2 to keep up with pricing in the area. If they say they are raising prices, I would believe them & be prepared for prices to go up more than the $2,000 because you never know what they'll do. As far as predicting prices that is tough to do especially with the Coronavirus potentially coming back in the fall. I'm guessing home prices won't skyrocket this or next year but they could continue to climb depending on your market. Where are you looking to build a home?
Thank you so much. That makes sense. I am looking to buy a home in Hagerstown, MD with Richmond American.
LaShonda DeSouza Awesome! That’s a long way from where I live. Best of luck to you!!!
Have you started the homebuilding process yet?
What is the cost of each stage of the home construction in the california states
You'd need to speak to an agent in California or more likely a homebuilder. Sorry I can't help. Best of luck to you.
Hi Ty, thanks for sharing. Definitely some great info. During the building process are home owners allow to add blocking for future add ons. Example tv locations, cabinets in the garage. And when can that be done?
Thanks for the compliment & for the excellent questions. Most builders will NOT allow you to add anything, but it never hurts to ask. Always ask. I had a client add some electrical just before the sheet rock went on & when the builder noticed they ripped it all out before even speaking to the buyer.
Great information
Glad you liked it. Are you planning on Building a home in Texas?
What scares me is the undisclosed fees or expenses... Things that I didn't know I need to pay for after (like landscape for examplel
Thanks for watching & for your comment. Yes, a fence & the yard can be tough. I usually recommend, if you have the money, to get the landscaping done by the builder before you close on the house especially when mortgage rates are so low.
Have you started moving forward with a homebuilder yet?
@@TyWilde
Hi Ty .. We're still looking but very close to sign with Lennar soon hopefully🙏
Peter Mikhael - Awesome! What location?
Peter Mikhael - Awesome! What location?
Great video
I may be going on this journey soon
That's exciting. Just so you know, I have approximately 100 videos on the home build process. You'll want to subscribe to my channel. And, please if you have any questions along the way, don't hesitate to ask. BTW, where are you looking to build a home?
@@TyWilde thanks much I will review and take notes before my first appointment
@@teresab208 Awesome. Best of luck to you.
What are your thoughts on MI Homes?
Sorry, is MI Homes a builder or are you talking about homes in Michigan? LOL.
Thanks for all the videos, they are amazing. What scares me is that we bought land in the country, 1 hour from where we currently live/own. That being said, the possible inability to keep an eye on the build from this distance.
Yeah, that's tough. I built 30 minutes away & I was taking a lot of long drives. I also put up a lot of NO TRESPASSING SIGNS. Try that & Just do it. Congratulations. BTW, if you have any questions, don't hesitate to ask.
🕊✨ Good Afternoon.
I Really Appreciate Your Videos. This is An Outstanding One. What Afraid Me the Most Is The Honesty of The Sales Person That Works For The Builder and The Development. We are Looking in To Build at South Texas. We Are Not Quite Clear How the Real State Person Commission Gets Paid in The State.
Again This Video Will be in Our Personal Library In The Process of building our Brand New Home. 🏡
Thank You!
Have a Pleasant Evening.
Thanks for sharing. Just make sure everything is in writing. I'd guess the builder pays the agent so I'd interview agents who have experience selling new construction to represent you. Best of luck.
Great video. Our big concern is finding the right lot and total project cost, we are not fancy but would like a nice efficient home.
Yeah, don’t be afraid to pay a little bit more for a better home site. If you have any questions please don’t hesitate to ask.
Do you have a video about advices to investors who want to build homes through a builder and sell them?
I don’t, but it’s the first investing strategy that my wife and I used. We would live in one house while building another. Then we would sell the house we were living in 2-3 months before The other house was completed so we could build equity in two homes while only having one mortgage. Then, we would move into the brand new home and do the same thing again. It’s a great strategy but a little more risky because the market could change during the build process and leave you in a tough situation. Where do you live? How was your market?
We have 2 acres of land that is paid for and want to use it as a down payment will we still have to come out of pocket for the build process. We are looking at either fha construction or usda construction. Any advise on this. Love your videos by the way they have been most helpful.
Thanks for watching and for your excellent question. I’ve actually never done anything like what you’re talking about. So unfortunately I wouldn’t know how to advise you. It sounds like you’re in a good position though. Best of luck to you.
Hi should I bring my own realtor and work with the builders lender or stick to the builders representative? THANKS!
That is an Excellent Question! Hire a Realtor for sure. Where are you looking to build?
@@TyWilde
Colorado, so it doesn't matter as long we work with the builders lender?
@@razelaldea3377 Nice. We're neighbors.
My biggest fear is the timing--what if I can't sell my current home in time for closing? Or what if I sell too early and have no place to live for months? I'm now also worried about the construction deposit--I didn't even know that was a thing, so thank you for warning me!
Unfortunately when a lot of people build a home if they have a home to sell end up homeless for 2-3 months. My wife & I just stayed with family but you may be able to find someone who would rent to you month to month.
How’s your progress coming on this? Have you selected a homebuilder yet?
I have the same worry as you. Thankfully my parents live 15 miles from us and we plan on listing on our home a month before spring school ends. That gives us enough time to close by the time the kids are out of school and we don’t worry about school schedules during the summer while we live at my parents house. Eventually we’l have to drive a bit more after the summer ends but it’s only temporary. Hope things work out for you.
Renting is the answer. Staging is much easier and you can take your time finding the best buyer.
For more great videos like this hit the subscribe button
ua-cam.com/channels/0X9q1Yr_JARSO8hYHf9RRg.html
So I know I want to build a custome home. The ones I did look at did not completely check off list. I did start to screenshot the cabinets bathroom flooring the paint colors for my walls, type of appliances I want, finish basements and all sorts of things. I looked through different homes to get ideas on what I want, like chandeliers, doors and other things like HVACs room size, etc. I'm pretty sure I'm missing a few things but I'm giving myself options to see what I want. My only fear is the length of time it will take because it's a custom home. Also, what alternative housing while it's being built. I was thinking of having a prefab home and later after moving to the main house, using the smaller to rent out. Another thing I looked at is lands. I look at homesites and undeveloped lands. I know for the undeveloped lands will add more time to be cleared so they can build. I find a lot of land to be cheaper but I have found some homesite lands with a great price. Depends on where and how much land it has. If there was anything I missed, let me know so I can add that to my list.
Thank for sharing. I would personally stick to developed homesites. Undeveloped land, especially if it doesn't have sewer, water & electrical can be very expensive to develop. Best of luck to you.
@@TyWilde so if the only thing available is undeveloped land, what's the best way to choose? I did find some that had utilities available, but should that be the only thing to look for?
Sorry, I'm just seeing this message. If possible, you'll want to find a homesite that has been developed. If not, find a piece of land in a location you love & make sure it's zoned residential. From there you'll need to stub everything yourself. Please let me know if you have any other questions.
I saw some of your videos and you are very information. I have never brought a home and am in the beginning stages of researching home builders. A lot of little things that are not mentioned while looking at model homes. My question to you is does a buyer have to put down 10% or 20% down payment along with the $1k deposit and the construction deposit? Thank you 👌
Glenda Garcia First of all, thank you for watching my videos and thanks for your excellent question. Most builders want a earnest money deposit plus a construction deposit. That dollar amount is different from builder to builder. Your final total down payment depends on what you decide with the lender, but for a conventional loan you can go as low as 5% down. Does that answer your question?
Have you Selected a homebuilder yet?
We have not decided on a builder. We are researching areas in North Carolina, Maryland and Delaware.
@@glendagarcia9203 Wow, that gives you a lot of options. Keep me posted on how it goes & best of luck to you. If you have any questions please don't hesitate to ask.
@@TyWildeis the construction deposit counted towards the down payment?
Thank you for your insights. We are looking to build with Maronda homes in Brevard county Florida (500-600k range). Meeting to work out the final numbers at the end of the week. They require 3.5% down. My biggest concern is rising interest rate. It will take 12 months to complete, interest rate is already over 5.4% today for the most qualified borrowers, how high will it be then? 7%? 8? It will surely drive many ppl away, myself included, and it's my biggest hesitation with the new build. A big risk!!
That's a valid concern. I recently shot a video explaining why you shouldn't build a home in 2022. You'll want to watch that video before you finalize anything. Here's the link... ua-cam.com/video/7DR4Nki13zw/v-deo.html
And, BTW, you may want to speak to lenders in your area because some lenders will allow you to do a 1 year rate lock. Just be careful that you don't lock too soon.
Great video! How’s Bender doing?
Bender?
@@TyWilde😅I’ve been watching a lot of your videos and my kids are watching Futurama. They said you sound like Fry.
@@ThinkHarderPlz LOL. I haven't seen it. I'll need to check it out. Thanks for watching.
@@TyWilde Thank YOU for making such wonderful videos! I’m seriously considering moving to Eagle Mountain. What builder would you recommend? I looked at a few Ivory models but in one of your videos you mentioned they’re a little overpriced.
@@ThinkHarderPlz Yeah, Ivory isn't the best value in the area. The best builder is subjective so I always try to find what's most important to my client. If it's price I have one that kills 'em all, but the home isn't fancy. If you're looking for a great looking home with loads of upgrades & you're willing to pay a little more, I like Fieldstone. I'd love to meet with you & go see some builders. There's actually a new builder I've been meaning to check out.
Is this a good time to flip a new single family home. Buy it build it and sell it
This is a great question. I would say at this point it’s probably a little too risky for multiple reasons. Number one, we don’t know where mortgage rates will be by the time the home is finally completed and number two home prices will not continue to increase at this rate. It may be slowing down already. It would have been an amazing plan two years ago.
This video will answer your question & explain why you might not want to build a home right now. And, it's my most popular video this year. Here's the link... ua-cam.com/video/7DR4Nki13zw/v-deo.html
Great video! Very streamlined and easy to understand... one question! You mentioned in Question 2: Preferred Lenders, that it's best to be pre-approved by both an outside lender and the preferred lender... will this negatively impact your credit thereby lowering the possible approval from whichever lender is run second? Again, I'm super new, so forgive me if this is a "duh" question! Thanks again 😊
Thanks for the compliment & for watching. It's actually an excellent question. I'm not an expert on credit scores, but it's my understanding that you'll only get hit the first time one of the lenders runs your credit. So, you could have 3-4 different lenders run your credit & it shouldn't hurt things too much. Please let me know if you have any other questions & best of luck to you on your journey.
@@TyWilde Good to know. Thanks for the quick reply!
@@edra7342 Sure! Best of luck to you!!
I was actually just notified by credit karma that I have a 2 week window from the first hard inquiry, to shop around and find a rate, before subsequent inquiries will start affecting my credit score.
Would you mind help, we are looking to build. We have 4 acres inherited but our in laws house own the 1 acre in front of us. So if we build our house won’t be seen as their house is in front. But we do need to add a septic tank, it’s in the country. we want to build. But are worried that later on in life we will want another home and selling would be a problem as family lives on the front acre. Should we just find a smaller 1-2 acre lot and wait to build on the 4 acres later on in life?
We are located in TX.
This is an interesting & unique situation. There's not really an easy answer & I don't think I have enough information. Do you need to drive on their property to get to your 4 acre lot or is there already a road or driveway leading to the property?
@@TyWilde yes we would have to go through theirs to get to the 4 acres. We are stuck on to build on the land, as that will help with the down payment but we have to add a septic tank.
Here in TX it’s about $11k-18k a acre. Depending on location. But most lots are 5+ acre buys.
@@adriannawalker1056 Issues often arise when you have to drive on other peoples property to get to yours especially if ownership changes for some reason. I would probably build a home somewhere else & move to that location in the future when you're ready to build your "Final Home." Hopefully that helps. Please let me know if you have any other questions.
Ty, my realtor and builder use the same preferred lender. (Separate but preferred lender) I knew my realtor did but found out about the builder using this lender after a random visit to a new build neighborhood. Should I trust these guys because they all know one another? Or is having them all In cahoots a bad thing for me? Is this a good or bad idea to work with them all. Is this a trustworthy situation? Or should I feel even more protected and secure that they will get things done quickly and swiftly?
Thanks for watching & for your excellent question. I get asked this question all the time so I made a video that will answer your question. Here's the link... but first, please let me know if you have any other questions. To give you the short answer it's probably a good thing because I know as a realtor I only want to use the best lender for a lot of reasons. That being said, you should always get a second quote from another lender. Here's that link.
ua-cam.com/video/CHKe0bI0AgY/v-deo.html
@@TyWilde wow! Thanks for such a fast response. I have watched a ton of your vids already and I’m going to watch more. Just subbed! Thanks for the info!
@@TheStylePilot Thanks for watching & even more so for subscribing. I appreciate that more than you know. I take a lot of pride in helping people. Please let me know if you need anything else.
Hi, been listening to so many different sites about buying new construction home and older homes...so what is the way to find out which home builders has the most positive review in their homes and warranties and upgrades without overcharging...we are 1st time homebuyers... and decide ding whether getting a price lesser home (new construction also vs a slightly bigger 2 story and spending the upgrades on the lower priced new construct home instead? Also any new info on January 2021 real estate market with new construction homes... in order to get a lower price new construct we had to look further north like 30 minutes to 40 min drive from Marin county (where I lived for 30 years rentin)g.. and hour to SF area...there are 2 builder we were interested in their homes next to each other basically same area...Signature Homes and KB homes
Thanks for watching & for your comment. I appreciate it more than you know. Just do some online research on the builders. There should be multiple sites with reviews. You can also talk to the people who already live in the new home construction neighborhoods that you're considering & ask them how their experience was. I'm not familiar with Signature but I do like KB. Best of luck & please let me know if you have any other questions.
Hi Ty, been watching your videos for a while now. Wish i ran across you before I built my first house. It has been a disaster and still having issues now. My question is, how in the world did the village pass so many things on my house that shouldn't never have been passed. I'm figuring how how could they have passed so many flaws. 😫 I am stressed. What advice do you have for me.
I'm so sorry. I've heard a lot of stories lately about build jobs gone wrong. It appears a lot of homebuilders have been cutting corners. How long have you been in your home?
I have been here for 2 years
He has cut so so many corners its ridiculous. This shouldn't be for the money you pay for this house.
@@san7723 I was afraid you'd say that. So no more warranty. I'm guessing you've written a detailed letter to the builder stating everything that has gone wrong, without exaggerating? If not, start there. If that hasn't gotten you anywhere you can try the Better Business Bureau. Who's the builder?
Well, I can't state the name because I have been fighting the builder in court for a year and a half. It's amazing that he knows the things he did and won't own it so we can move on.
Excellent Vid. I wish I saw this before. I’m building a Keystone Custom in Pa. They asked if I wanted to upgrade the basement to 9ft ceilings. I opted to leave it at 8ft and finish it later. I did a design change to remove two posts from the basement to create open space. They said they had to install a reinforced steel beam. Now it’s installed and the beam is taller and sits at 6’ 6” from the floor. Didn’t see anything that said it’ll be that low. The ceilings are at 7’9” and the design say 8’ High Main House Basement Walls! We got screwed! No idea what to do!
Man, I’m sorry to hear. That is a huge bummer. This is the exact reason why I make these videos. Hopefully I’ve helped many others avoid the same sorts of disappointments. Please let me know if you have any questions and thanks for watching.
@@TyWilde in your Experience what can we do?
@@basimms007 you could probably right I strongly worded email and the builder may return earnest money deposit… Maybe. Honestly, most builders protect them selves pretty carefully in the contracts so realistically, there’s probably not much you can do. If you’ve built some good equity, you could sell the house and build again with someone else somewhere else. Hopefully that helps.
My fear is not having enough time or having enough money so what can be done please response
I have a video coming out in a few days that should really help you. Keep your eyes out for that one. Quick answer… Stay well below budget, find a lender or homebuilder that will offer a long-term rate lock or, you could always purchase a builders spec home. Please let me know if you have any other questions and hopefully this helps. Best of luck.
Helpful doe 💜
Thanks.
We need you in Vancouver BC
It's too cold there, I can barely handle Northern Utah. But I'd love to come visit. Thanks for watching & for the compliment.
Could you also add that at closing , your walk through with the builder, you find issues how you can hold the builder to fix issue in a" timely manner". They will promise you to fix the issue so that you'll close. But after that, some builder drag their feet out. Would you recommend having the a lawyer review your contract for the construction prior to signing it ?
Yeah, that's a great suggestion. I've seriously got 24 videos in my back log but this is definitely something to consider. Thanks for watching & for your comment.
Thanx for knowledge. I have questions ,can we buy materials like tiles , toilet seats and kitchen cabinet materials and provide the builder bcs builder I’m planning to buy a house showing us the upgrades materials with limited variety and charging more than 3 times than market . Example i saw the tiles in Home Depot that I liked will cost 5500 dollars including tax and the same tile builder us charging 20000 dollars and even not deducting the cost of carpet that should be given to us in standard cost of home. Is there any possibility that we can fight with that or we have to take permission from city . This is in Southern California
Thanks for watching & for your EXCELLENT Question. The answer is most likely no. Most builders will not allow you to do this & there are a lot of good reasons. Some bad ones too, like they want to make more money off of you. But you can always ask. In most situations, you will need to leave the standard options in the home & then replace them later. I hope this helps. Best of luck to you my friend.
I have my own lot. I found many topics on this video useful.
I want to choose a good contractor and am checking CSLB, BBB and Yelp but it is very risky.
I will have about 250k readily avail and a private lender to get me thru construction then I can get a standard mortgage.
Impact fees are costly... In California ( my county) I am looking at $75k in impact fees for schools, parks and library. I am nervous about doing this. The plans I chose are 2053 sq ft with a 2 car 550 sq ft garage single story. We are required to have energy calcs called title 24, sprinklers and solar. I fear that costs are excessive.
Yeah, when you're building custom, there are a lot of unknowns. Really, it's something that I wouldn't really be comfortable advising you on. I guess I could recommend selling the homesite & moving to a location where you wouldn't have the crazy fees. Either way, best of luck to you & please keep me posted on your progress.
Very informative. Can you pls give some insights on land/construction loan and how much % of money would lender give approx.? Also how to find where a lot is good for construction & what if un-developed lot.
Thanks for the compliment. I actually don't deal with the construction loan part of the process, but I'll see if I can find some time to look into it for you. I will also look into doing a video on the development of the lot.
The most important question is WHAT ARE THE HOA FEES AND can I see the COVENANTS.
Yes, thank you. Those are definitely great questions to ask. Thanks for watching & for your comment.
What scares me the most is not know the extra fees, and cost other than down payment, closing cost. Like hidden cost we are doing research now and saving for our down payment and closing cost what others should we be saving for. We won’t be buying until 2024. We just want all the up front cost and any fees saved up so we do t have surprises. All I keep hearing is down payment and closing cost. But I’m pretty sure there are others please help. Thanks
That’s an excellent question. Really, closing cost and down payment are your only real fees. If you build a home from scratch though, the homebuilder could charge fairly high construction deposits. Where are you looking to build a home?
My biggest fear would probably be the house not being sold. As the builder, would you still get a check, or do you get screwed over?
If I understand correctly... if a builder builds a house for someone & the buyer backs out, the builder will keep all of the buyer's deposits.
PMI scares me , I would like to avoid Pmi and not put 20% down , what are my options ?
Ha Ha. You're crackin' me up. I'm not aware of anything unless you can qualify for a VA loan or maybe Rural housing. I'd check with a local lender, but for the most part, at least for most of us, we just have to pay it.
You know, to add to what I just wrote, You can put down as much as you can afford & if you live in a location where prices are increasing you can get the house reappraised a year or so later when it's worth more & get rid of the mortgage insurance that way. I've done it that way twice.
Who could I hire to make sure the builder is doing a good job (workmanship)
Thanks for watching & for your excellent question. It's one I've never heard before. I guess you could ask your friends & family if they know a good general contractor... or google it. They'd be able to give the home a good look over through the different phases. You'd probably only need them to take a look right before the 4-way inspection. Just so you know, I've done loads of videos on the home build process & the different stages of the process so you know what to look for throughout. I'd recommend starting with my video on the 4-way process. Best of luck to you. Here's the link... ua-cam.com/video/19t9pCTEn20/v-deo.html
@@TyWilde thanks for the tip and the reply…I will check out your other videos and I will be sure to give you a like as well!
@@dreb2g I would appreciate the more than you know. Thanks again for watching & have a great day!!
So we own a lot and are looking for a builder for sometime this year. My concern is that most builders will require the full down payment first since we own the lot. In your experience is that something we could negotiate with a substantial earnest payment + a mortgage qualification? Selling our home too early would leave us homeless 😬
Yeah, we built our last home the same way. It's a lot harder than building with a track builder. We took out a construction loan & paid the builder as we went. I'm pretty sure that's how most custom builders work, but you'll just need to ask them how they'd like you to do it. Did that answer your question? Where are you building?
@@TyWilde very helpful thanks. Building in Wise County, Tx
@@Joeythe1st That's great. I love Texas!
Will I save money if I used my own property compare to the builders own property?
Probably not. Builders save a lot of money on land because they'll buy large parcels all at once. On top of that it's usually more expensive to use a custom home builder. Where are you looking to build a home?
Love your videos but goddamn you love builders. you always gotta fight for the best deal
I've spent the last 15+ years representing builders. I know better than most that they are not perfect & I'm not going to defend that. It's just that there are a lot of things that people don't have control over & I want people to understand that before they commit. Thanks for watching & for your comment.
What scares me most about building is going over budget 😬
Yeah, it’s one of the most common mistakes people make.