Thursday, May 29, 2008

Lake Norman Real Estate: Lake Norman New Construction and Homebuilders

Lake Norman New Construction and Builders

The Lake Norman area offers an assortment of Production and Custom Home Builders. These builders offer a wide variety of types of homes they offer, size, options, and prices which can be very attractive to a buyer. Many of these buyers would like to have the luxury of owning something that is new and something that they can help design.

If you are considering purchasing a home through "NEW CONSTRUCTION" it is important to know that when you visit a sales model or meet with a builder you are not represented. North Carolina is a "caveat emptor" state, or "let the buyer beware". Also in North Carolina, the sales person in the model, does not have to be a licensed real estate broker and the Superintendent building your home, does not have to personally be a licensed general contractor. In other words, the sales agent and the builder are representing the company's best interest. When visiting a builder, you should always be present with your Real Estate Agent/Broker. Depending on your agreement with a Buyers Agent, many times the builder will pay the commission to the Agent directly. So, the builder is paying for your representation.

Differences between Production Builders and Custom Builders:

Production Builders:
-Build on their own land.
-Have basic home types and layouts they use and allow customization of certain options.
-Usually construct Single Families, Townhome, and Condos.
-Build in large volumes.
-Offer a new home, at very competitive prices.

Custom Home Builders:
-Will normaly build on land that they own, or you own.
-Build the home custom to the lot and custom to the buyer.
-Some can offer design services.
-Normally only build single family homes.
-Build in lower volumes.
-Tend to build higher quality homes and finishes.

Before selecting a builder, research what they have to offer!

Reputation - Check past clients.
Location - Do they build regularly where you want to build.
Type of Home - Do you like the architecture of their product.
Compatibility - Do personalities conflict.
Warranties - What warranties do the builder offer.
Financial Strength - Will the builder withstand a rough economic period.

Before signing a contract:

-Get opinions from family and friends on the house style and layout.
-Seek input from your lender or the Lake Norman Home Builder Association.
-Check with the North Carolina Licensing Board of General Contractors.
-Ask for verification documentation as proof the contractor has current Workers Comp and Liability insurance that has the appropriate value amount for your construction.

Contact your Real Living Agent at (704)315-8106 for more information.

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