Thinking of building a custom home in Cincinnati? The time for action is now.
A recent Re/Max report revealed that Cincinnati ranks number two in the country for the fastest home sales. The reason buyers are snatching up properties is because inventory is dwindling. Every election year, fewer homes become available for sale. 2020-2021 is no different. Since there are fewer homes on the market, buyers are forced to bid high and act quickly. Thus, the Cincinnati home sales market has exploded.
If you are thinking of moving to Cincinnati and find yourself hunting for a home to suit your needs to no avail, you might want to consider a custom home build instead.
Is Now the Right Time to Build a Custom New Home in Cincinnati?
With coronavirus still raging around the world, you might wonder if waiting until the pandemic ends to build a new home might be the better idea. However, despite the pandemic, single-family home building permits are still being issued in healthy amounts throughout the greater Cincinnati area. Several custom home builders have seen record sales as a result.
The trend of custom home building is so popular right now that Dan Dressman, executive director of the HBA of Greater Cincinnati, is quoted as saying, “Builders are having trouble keeping up with the pace of new home construction this year.”
How Long Does It Take to Build a Custom Home?
When buying a pre-built house, you get to move in right away. The downside is that you must live with whatever design the previous builder had in mind. You must accept the amenities as-is unless you want to do a complete remodel.
With custom home building, you get to choose every architectural design, feature, and amenity. You even get to pick the neighborhood!
The rare downside to a custom build is that you must wait for your new home to be built. But like they say, the best things come to those you wait!
Still, with a custom build, the wait isn’t overly long.
On average, it takes between 6.5 and 10.5 months to build a custom home from the ground up, according to the National Association of Homebuilders.
Included with that timeline is the obtaining of permits and all construction work if everything goes according to plan. Setbacks like bad weather and a worsening of the pandemic, just to give two examples, can extend the timeline somewhat. If you take the time to look for an experienced custom builder with a good track record, you have a higher chance of having your home built according to your vision, and right on schedule.
The Importance of Finding a Good Custom Home Builder
When hiring a Cincinnati custom home builder, it is important to ensure they are up for the job. Make sure the general contractor and all subcontractors they use are licensed to handle their respective tasks. For the best results, plan on interviewing several builders and ask to see the homes that feature in their portfolios. Then hire the more experienced contractor if you want the job to go well.
When you have settled on the right builder, review the contract carefully before you sign on the dotted line.
Pay special attention to:
This part of the contract helps you understand what that project manager must do to complete the construction of your new home. This may include obtaining the proper permits before the work can begin. Your contract should include drawings and project specifications that you and the contractor can reference as the project is ongoing. Make sure the specifications match what is outlined in the contract before making the contract official.
This is the schedule of construction. Knowing the timeline lets you and your builder be on the same page throughout the home building process. You will both know what should be completed and by when.
Most experienced home builders will include allowances for inspection delays, bad weather, and other elements that are beyond the home builder’s control. For delays other than those listed in the contract, you could consider adding language in the contract about charging the builder for each day that goes beyond the deadline.
Schedule of Payments
This portion of the contract details when and how much you will need to pay throughout the home building project. In most cases, you will pay the builder some money as a down payment before going on to fund the rest of the project in intervals. Make sure you agree with the payment terms before locking yourself into an unaffordable situation.
Read over your entire contract and be sure you understand everything that is listed. Other sections of the agreement include the ways to change the scope of work, the types of warranties you have, and the actions that can constitute a contract breach. Have an attorney look over the contract if you are unsure of any areas before giving it your John Hancock.
How to Save Time When Building a Custom Home
If you have decided to go ahead with your custom new home, congratulations! Here are five ways to save time so that you can move into your dream home sooner.
Come to a Scope Agreement
Be sure you and your custom builder are on the same page when it comes to the scope of work. Otherwise, if anything requires a rework somewhere down the line, you could delay your timeline by weeks or months.
You may be tempted to go all out when your home builder presents with a myriad of floor plans and custom home layouts. Keep in mind, however, that the more complex the plans, the longer the build will take. Going simple can save you time and money.
Choose Your Start Time Wisely
The time when you begin your build matters. Choosing to break ground in the spring might be best because of the improved weather. The fall is another good time, as the demand for contractors and subcontractors usually dwindles during this time, and throughout the winter.
Be Mindful of Your Timeline
As your project begins and continues, keep an eye on the schedule. Being cognizant of what needs to happen and when can help you stay on top of things, ensuring a timely build.
Ready to Build Your New Home in Cincinnati?
Designing, building, and furnishing a custom home can be an enjoyable experience if you take the time to find the best home builder. Ashford Homes is that builder. We provide quality built homes with values you and your family can appreciate.
When you choose us as your Cincinnati custom home builder, we guarantee exceptional customer service (before, during, and after the purchase of your home), as well as dedication to helping you achieve your home buying needs. We pride ourselves on our ability to understand your needs and desires. We ask all the right questions and point you to the best floor plans, amenities, and neighborhoods to suit your budget and needs.
What are you waiting for? With Cincinnati home sales going through the roof, the time is now to build your custom new home. Ask about our neighborhoods and luxury floor plans. Call now to get started at (513)445-1800.