Thinking about new construction?
Since 2002, we’ve been hands-on home-building contractors
If you are interested in building a custom home, we are a great choice and an excellent resource. Wendy Elder and her husband, Chris Elder, have been hands-on home-building contractors in the Lake Travis area since 2002. When you build from the ground up, you get to design it and put your personal touch on it. We have the expertise to understand both the real-estate transaction and all the requirements of a custom home project.
Is a custom home right for you?
What permits are required? How do I pick the right lot? What kind of architect and contractor should I hire? Connect with us to get the essential tips for understanding whether a custom home project is right for you and the pitfalls you should watch for.
A FEW REASONS TO CONSIDER A CUSTOM HOME
- You can build a music room
- Create a separate tiny house on the property
- Design a special outdoor area, such as a custom pool or a putting green
- Customize a unique wine room
- Build an over-sized library or office
- Create a yoga studio or a special workout room
A few tips
If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date, and other terms with the home builder. Here are some tips.
Selecting a Builder
Shopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles. Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder’s state license status, if applicable; and check whether they’re certified by the National Association of Home Builders.
The builder representative and your real estate agent
A builder representative’s ultimate goal is to sell you a home. His or her role is to provide a wide range of information to help you in your decision-making, from building restrictions, roads and easements to inspections, warranties, rebates and upgrades. A real estate agent knowledgeable in new-home construction will be able to help you wade through all the data and point out the downsides and upsides of each line item. Your agent also can look out for your interests in reviewing the builder’s contract, which often contains more legal jargon than consumer-friendly language.
It’s all about timing
Market conditions greatly dictate a builder’s incentive to make a deal you cannot refuse. When a builder has inventory on his hands, his carrying costs start adding up. When this happens, a builder might be more amenable to strike a favorable deal, whether it’s throwing in upgrades or taking a bit off the asking price. A real estate agent can help you know when market conditions are right for these benefits. Also, watch for builder close-out sales. Builders promote these special events when a new subdivision is near completion but empty inventory still remains.
A word about paying up
While there are always exceptions, most builders require a deposit when a purchase agreement is signed. They also require that the buyer pay for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose that money. Make sure you understand every detail in the builder’s contract before signing it.