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Can Battlefield Homes provide a lot to
build our custom home?
At times, we do have lots and we will build to suit on those
lots. At other
times we help find lots and either buy them for the home buyer
or allow the
home buyer to buy the lot. Almost half of all homes we build
are on lots
already owned by the purchaser.
Fredericksburg offers
large-lot opportunities. What do I need to buy a lot on
my own?
Absolutely. Always make sure you have sufficient soils work
supporting the septic system that can be placed on your lot.
If, like most
people, aren't familiar with perc and septic system information,
have your
prospective builder review the information you should be provided
with
regarding the soils. If you are afraid you're going to lose
the lot, contract
it with a soils study period. There are cases locally where
a purchaser
bought a lot that did not perc.
With a custom home,
what are the options for financing?
You have two choices with Battlefield Homes. Depending on who
owns the lot,
you can elect to have the builder "take down" the
lot and get a mortgage
loan that ties everything into one loan at an end-of-construction
settlement.
In this scenario, the builder owns the lot, carries the construction
loan and
turns the ownership over to you at an official settlement. You
may also
choose to get a construction-to-perm loan. This type of loan
gives the
builder draws at several key building stages along the way until
the home
is complete. The purchaser only pays a small interest on the
money drawn.
When the house is complete, the purchaser has a fixed rate based
on what
was decided with their loan officer at the beginning of the
loan. The
purchaser has owned the lot from the beginning of the loan,
therefore there
is no settlement required.
What things are required by you to actually start construction
of a home?
We believe in getting everything ironed out before we start
a home. That way
there are no surprises. We must have in hand a financing approval
commitment
(or proof of funds for cash purchases); engineering documents
(including your
roof and floor designs); an approved building plan/blueprint
of your design:
completed and ratified purchase agreement with product selection
sheets; a
septic permit if required (for large lots); a physical stake-out
of the lot by
the engineer; HOA (homeowner's association)Architectural approval
(if
applicable) and a County building permit.
I know
that the building costs can be estimated, but what about the
cost
finishing my lot. What can we expect?
This is a very hard area to determine in advance because the
earth is not
predictable. The site work is estimated to our best ability,
but unforseen
things such as rock, special equipment, poor soils and even
some weather
damage may cause our estimate to go over. Most unusual cost
situations are
discovered after we are into the building process because lot
finishing is one
of the last things done during construction. Any additional
and unusual costs
that are necessary to the complete the home are brought to the
attention of
home buyer as soon as we learn of it. Alternately, if we over
estimate the lot
work a credit for the difference is deducted from your contract
amount.
You've designed my home and now for some reason
I can't build. Can I keep the
plan?
Yes, but the architectural design fees incurred to prepare your
plan must be
paid; and depending on the complexity of the home and the design
time spent,
the plan could cost from $2000 - $4000. These fees are absorbed
if you build
with us at no cost to you. If you elect to buy your plan, you
will get a full
set of workable blue print plans that you can use anywhere.
The only
restriction on owning the plan is that it cannot be sold.
Do
you let us make changes during construction?
We are a custom home builder. Of course you can make changes.
As indicated
in a previous question regarding construction starts, you'll
find that so much
goes preparation and communication goes into the planning stage
of your home,
you should not have a lot of changes after you have approved
your plan. But if
it is important to make a certain change, we'll try to make
it. It is
important to note that complications of changes are greater
at certain stages
of building and that changes may incur charges for a number
of reasons. Other
than a change-order fee, you will only be charge for a change
if the builder
is charged. You will have the opportunity to see any change
fees and approve
the work before the change is made. Additionally, it is important
to recognize
that changes could also change your move-in date. |
