The home construction process can be both exciting and at the same time, fraught with problems. You may not have as much experience as you’d like when it comes to dealing with lot purchasing and developers. The most important thing is to have as much information at your fingertips as possible and be thoroughly prepared.
You will no doubt have many questions about the site you are considering building on. Before you even meet with the developer, try to find out as much as you can about how reliable they are, and what kind of reputation they have. You also need to know as much as you can about the area of development, as well as the particular lot you are looking to buy.
We have prepared a small sampling of the questions you will need to ask your developer. While some of them may seem like obvious questions to ask, the fact is that if you are in an environment where you are pressured into signing a contract, you may overlook some of them.
You will want to ask questions such as:
- Are all the things promised to you by the sales team listed in the contract?
- How large is the development going to be when completed?
- What amenities have been promised and when will you expect to be able to enjoy them?
- What kind of provisions are in place if the developer went bankrupt? What would happen to your property?
- When it comes to things like access roads to your property, who provides them? Will it be the developer? Who would be the one responsible for their maintenance?
- What allowances have been put in place for the maintenance of the development upon completion?
- What annual fees would you likely have to pay?
- What about restrictions on your own property? What if you wanted to camp on site while the home is being built? Is this allowed/
This is a brief list of important questions you will need the answers to before signing a contract. If you would like any assistance in matters like these, please don’t hesitate to contact us.