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Frequently Asked Questions
- What is a
Custom Home Builder ... ?
- How do I Get Started
... ?
- How much
money do I need to start...?
- What about Financing
... ?
- What about a
building lot ... ?
- If I already have or
need Blueprints ... ?
- What are Allowances...?
- How
long does it take to build a house...?
- What
is included in the price of the house...?
- What
can I do to save money on my new house...?
- How
much does it cost per square foot to build ...?
A custom home builder allows you, the purchaser, to decide what
features and products are to become a part of your new home. With a
custom builder you are not limited to any particular styles, colors
or choices. In other words you get what you want.
To get started just contact us at 716-298-4111 or email us
Glen@glenwoodbuilders.com
to set up an appointment.
Most builders require a down payment anywhere from 5% to 20%.
Lending institutions also require a cash reserve in a bank account
as part of there mortgage agreement. Contact your lending agent for
more information.
If you require financing you can contact any bank loan department
and request information on construction loans. Not all banks have
construction loans. Construction loans typically disperse a
percentage of the loan amount based upon completed work. These
percentages are called draws and most institutions have 3 or 4 draw
loans. Typical draw stages for a 3 draw loan are: 1st draw when the
foundation is complete, the framing is complete and the doors,
windows and roofing are installed. 2nd draw when the exterior siding
is complete, all mechanical rough-ins are complete and drywall is
hung and finished. The 3rd and final draw is paid at the completion
of construction. Each draw is preceded by a bank inspection to
verify percent of completion.
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If you already have a lot you are one step closer to your new
home. If you are still looking or are interested in a lot we can
help. Purchase one of our lots or by working closely with Bruce
Andrews at
Great Lakes
Real Estate we will assist you in finding just the right lot for
your new house. Bruce can also assist you if you need to sell your
existing house. Just contact him at 716-754-2550 or email info@greatlakesre.com
If you are ordering blueprints out of a catalog keep in mind that
they must be stamped by a NYS licensed architect or engineer to be
acceptable by NYS building inspection departments. Let our
design team bring your ideas to life. By working closely with you
during the design of your new home we can assure that the final
product incorporates all the design elements you require making your
home a truly custom and comfortable home.
Allowances are a way custom builders give customers the
opportunity to purchase the products they would like for there
new home. Typically the allowances cover areas such as kitchen
cabinetry, countertops, bathroom fixtures and flooring. Each
allowance is assigned an amount of money that the customer can spend
on these items. If the customer spends less on one allowance then
the balance of that allowance can be applied toward other
allowances. This gives the customer the leeway to choose which areas
they prefer to spend more or less on. Keep in mind that the
allowances are already included in the overall price of the house.
A typical house usually takes 3 to 4 months to build. However
there are many factors that affect the speed at which your house is
built. We all know how unpredictable the weather is in WNY. Add to
this material shortages and ...well you get the picture. Here at
Glenwood Builders we have a great working relationship with some of
the best sub-contractors and suppliers in the area. This insures
that things move smoothly throughout the construction of your new
home.
It is probably easier to say what does not typically get included
in the price of a new home. Most builders do not include the
building lot unless you are purchasing it from them. Also the
landscaping and finished driveway are not included in the price of
the home. These items can be included if requested. If you are
shopping or comparing builders be sure to compare similar bids (
apple for apple ). Pay particular attention to the allowances and
the types of materials included in the bids. These can vary
considerably and require attention to detail to insure you are
getting what your requesting.
Not all builders allow hands on participation by the customer.
Some areas you might be able to participate in are painting and
staining. Keep in mind that scheduling is very important and any
delays can be costly. Make sure that you can do the work in a timely
fashion and that you are up to the task.
Ahh... the most asked question! You probably won't like the
answer but here it is. There is no good answer to this question
because there are so many variables from house to house and from
customer to customer. Every choice you make affects the cost per
square foot. A typical price range today is from $95 To $110 per
square foot. I know this probably doesn't narrow it down for you
very much but without blueprints and location it's the best I can
do.
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