Hi Everyone,

My wife and I have decided to sell our older ranch style house to move
up to something newer and bigger since we now have a kiddo with
hopefully more to come. But with this we're debating on whether to
build or buy, and with that we'd like to jump on whatever decision we
make to meet the deadline for the $6500 tax credit if possible.

We've literally been driving around neighborhoods in our area for a
few years now seeing what's out there, plus we've both bought and sold
houses in the past so we're not green in that part of it. My concerns
are more with building vs buying because in our area, Waco, Tx, it
seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

Our first step is getting our house ready to sell, which we still have
some projects to finish, hopefully by end of December with the house
going on the market before then.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

Has anyone gone down this path??? Are we missing something? Also are
there any factors we're over looking or putting too much emphases on?

Thanks for any suggestions or advice... Take care,

Sam Alex

Alex wrote:

it seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.


There's nothing particularly wrong with using a production builder, as long as
they have a good track record in your area. In fact, you will get the most
value for your money using a production builder. The trade is that designs are
limited to what the builder permits, and options are usually limited or priced
at "market" rates - i.e. they don't relate to what the builder pays the sub.

You might talk to a few realtors and see what the resale value of the builder's
homes are. That will give you your biggest clue as to the quality of the
construction. You can also hire an independent house inspector to monitor the
construction process if you really want to, although they can identify phantom
problems just to show you that they are "helping" you.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

That's a viable option as well. We recently used a realtor to locate a builder
and area for a family member. Even though we thought we knew the county quite
well, the realtor found a beautiful small new subdivision we were unaware of and
identified a number of new construction incentives that the builder would grant.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

Any warranty work beyond minor finish rework is usually handled by the
subs/suppliers, so I wouldn't be real concerned about that. I would make sure
than my deposit was minimal. If the bulider can't finish the job, at most you
are out a grand or so.

If you have a plan (or are using a builder plan), the ground is ready and the
builder isn't saturated, you shouldn't have any problem closing in 90-120 days.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

The key is to get your current house sold before you commit to building a new
house. Accepting a contingent offer on your current house or hoping to have sold
by the close of a new house is a recipe for disaster.

Alex wrote:
Hi Everyone,

My wife and I have decided to sell our older ranch style house to move
up to something newer and bigger since we now have a kiddo with
hopefully more to come. But with this we're debating on whether to
build or buy, and with that we'd like to jump on whatever decision we
make to meet the deadline for the $6500 tax credit if possible.

We've literally been driving around neighborhoods in our area for a
few years now seeing what's out there, plus we've both bought and sold
houses in the past so we're not green in that part of it. My concerns
are more with building vs buying because in our area, Waco, Tx, it
seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

Our first step is getting our house ready to sell, which we still have
some projects to finish, hopefully by end of December with the house
going on the market before then.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

Has anyone gone down this path??? Are we missing something? Also are
there any factors we're over looking or putting too much emphases on?

Thanks for any suggestions or advice... Take care,

Sam Alex
Hi,
I have always lived in houses we have custom built to our plan and
specs. Learned a lot about house building and no crooked contractor can
fool us. Now I often help friends, relatives with their housing needs.
If you custom build you'll have unique one no one else has. If you buy
spec. house nothing exciting with it because there are many like it.
For me, it's either custom build or find a spec. house going up and do
some changes per your plan. And foremost important thing is the location
of house. Location, location, location, most important.
Pick a best lot you can afford.

On Dec 1, 10:51*am, Robert Neville wrote:
Alex wrote:
it seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. *It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. *We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. *It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? *Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

There's nothing particularly wrong with using a production builder, as long as
they have a good track record in your area. In *fact, you will get the most
value for your money using a production builder. The trade is that designs are
limited to what the builder permits, and options are usually limited or priced
at "market" rates - i.e. they don't relate to what the builder pays the sub.

You might talk to a few realtors and see what the resale value of the builder's
homes are. That will give you your biggest clue as to the quality of the
construction. You can also hire an independent house inspector to monitor the
construction process if you really want to, although they can identify phantom
problems just to show you that they are "helping" you.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. *My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

That's a viable option as well. We recently used a realtor to locate a builder
and area for a family member. Even though we thought we knew the county quite
well, the realtor found a beautiful small new subdivision we were unaware of and
identified a number of new construction incentives that the builder would grant.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. *Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

Any warranty work beyond minor finish rework is usually handled by the
subs/suppliers, so I wouldn't be real concerned about that. I would make sure
than my deposit was minimal. If the bulider can't finish the job, at most you
are out a grand or so.

If you have a plan (or are using a builder plan), the ground is ready and the
builder isn't saturated, you shouldn't have any problem closing in 90-120 days.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. *We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

The key is to get your current house sold before you commit to building a new
house. Accepting a contingent offer on your current house or hoping to have sold
by the close of a new house is a recipe for disaster.- Hide quoted text -

- Show quoted text -

Good advice and key point is that in a buyers market, the first
objective is to sell your old house first.
I've seen people with bridge loans or pressured by builders to accept
less for the old house than expected.

On Dec 1, 12:01*pm, Frank wrote:
On Dec 1, 10:51*am, Robert Neville wrote:





Alex wrote:
it seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. *It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. *We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. *It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? *Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

There's nothing particularly wrong with using a production builder, as long as
they have a good track record in your area. In *fact, you will get the most
value for your money using a production builder. The trade is that designs are
limited to what the builder permits, and options are usually limited or priced
at "market" rates - i.e. they don't relate to what the builder pays the sub.

You might talk to a few realtors and see what the resale value of the builder's
homes are. That will give you your biggest clue as to the quality of the
construction. You can also hire an independent house inspector to monitor the
construction process if you really want to, although they can identify phantom
problems just to show you that they are "helping" you.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. *My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

That's a viable option as well. We recently used a realtor to locate a builder
and area for a family member. Even though we thought we knew the county quite
well, the realtor found a beautiful small new subdivision we were unaware of and
identified a number of new construction incentives that the builder would grant.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. *Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

Any warranty work beyond minor finish rework is usually handled by the
subs/suppliers, so I wouldn't be real concerned about that. I would make sure
than my deposit was minimal. If the bulider can't finish the job, at most you
are out a grand or so.

If you have a plan (or are using a builder plan), the ground is ready and the
builder isn't saturated, you shouldn't have any problem closing in 90-120 days.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. *We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

The key is to get your current house sold before you commit to building a new
house. Accepting a contingent offer on your current house or hoping to have sold
by the close of a new house is a recipe for disaster.- Hide quoted text -

- Show quoted text -

Good advice and key point is that in a buyers market, the first
objective is to sell your old house first.
I've seen people with bridge loans or pressured by builders to accept
less for the old house than expected.- Hide quoted text -

- Show quoted text -


You haven't even put your house on the market yet and you hope to have
it sold by Jan or Feb? There are loads of houses in most of the
country that have been on the market for a year and haven't sold.

Second big problem. The federal tax credit you refer to was set to
expire this year, but was extended until April 30. Given that, it
would seem you'd be very lucky if you can get your house sold and
another existing one bought by then, Forget about building and
getting the credit. Also, I wouldn't get so focused on the $6500 tax
credit that I wind up selling the existing house for $20,000 less to
get the deal done.

On Dec 1, 12:01*pm, Frank wrote:
On Dec 1, 10:51*am, Robert Neville wrote:





Alex wrote:
it seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. *It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. *We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. *It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? *Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

There's nothing particularly wrong with using a production builder, as long as
they have a good track record in your area. In *fact, you will get the most
value for your money using a production builder. The trade is that designs are
limited to what the builder permits, and options are usually limited or priced
at "market" rates - i.e. they don't relate to what the builder pays the sub.

You might talk to a few realtors and see what the resale value of the builder's
homes are. That will give you your biggest clue as to the quality of the
construction. You can also hire an independent house inspector to monitor the
construction process if you really want to, although they can identify phantom
problems just to show you that they are "helping" you.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. *My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

That's a viable option as well. We recently used a realtor to locate a builder
and area for a family member. Even though we thought we knew the county quite
well, the realtor found a beautiful small new subdivision we were unaware of and
identified a number of new construction incentives that the builder would grant.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. *Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

Any warranty work beyond minor finish rework is usually handled by the
subs/suppliers, so I wouldn't be real concerned about that. I would make sure
than my deposit was minimal. If the bulider can't finish the job, at most you
are out a grand or so.

If you have a plan (or are using a builder plan), the ground is ready and the
builder isn't saturated, you shouldn't have any problem closing in 90-120 days.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. *We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

The key is to get your current house sold before you commit to building a new
house. Accepting a contingent offer on your current house or hoping to have sold
by the close of a new house is a recipe for disaster.- Hide quoted text -

- Show quoted text -

Good advice and key point is that in a buyers market, the first
objective is to sell your old house first.
I've seen people with bridge loans or pressured by builders to accept
less for the old house than expected.- Hide quoted text -

- Show quoted text -


You haven't even put your house on the market yet and you hope to have
it sold by Jan or Feb? There are loads of houses in most of the
country that have been on the market for a year and haven't sold.

Second big problem. The federal tax credit you refer to was set to
expire this year, but was extended until April 30. Given that, it
would seem you'd be very lucky if you can get your house sold and
another existing one bought by then, Forget about building and
getting the credit. Also, I wouldn't get so focused on the $6500 tax
credit that I wind up selling the existing house for $20,000 less to
get the deal done.

wrote:

You haven't even put your house on the market yet and you hope to have
it sold by Jan or Feb? There are loads of houses in most of the
country that have been on the market for a year and haven't sold.

True - but the rules haven't changed. If you want to sell your home quickly in
any market, make sure it presents better than anything else in the local market
and price it under what similar houses are _selling_ for. It always amazes me
that people base their listing prices (and expectations) based on what other
people are *listing* their houses for. As it turns out, right now in many
locations, entry level homes are selling quite well compared with more expensive
homes.

Also, I wouldn't get so focused on the $6500 tax
credit that I wind up selling the existing house for $20,000 less to
get the deal done.

Absolutely.

Second big problem. The federal tax credit you refer to was set to
expire this year, but was extended until April 30. Given that, it
would seem you'd be very lucky if you can get your house sold and
another existing one bought by then, Forget about building and
getting the credit.

The OP has six months. If they hustle, sell their current house quickly and do a
few things in parallel (like getting the plan finalized), I think it's still
doable. I think he said he was in/near Austin? That's not near the disaster
housing markets are on the west coast or in Vegas.

wrote:

You haven't even put your house on the market yet and you hope to have
it sold by Jan or Feb? There are loads of houses in most of the
country that have been on the market for a year and haven't sold.

True - but the rules haven't changed. If you want to sell your home quickly in
any market, make sure it presents better than anything else in the local market
and price it under what similar houses are _selling_ for. It always amazes me
that people base their listing prices (and expectations) based on what other
people are *listing* their houses for. As it turns out, right now in many
locations, entry level homes are selling quite well compared with more expensive
homes.

Also, I wouldn't get so focused on the $6500 tax
credit that I wind up selling the existing house for $20,000 less to
get the deal done.

Absolutely.

Second big problem. The federal tax credit you refer to was set to
expire this year, but was extended until April 30. Given that, it
would seem you'd be very lucky if you can get your house sold and
another existing one bought by then, Forget about building and
getting the credit.

The OP has six months. If they hustle, sell their current house quickly and do a
few things in parallel (like getting the plan finalized), I think it's still
doable. I think he said he was in/near Austin? That's not near the disaster
housing markets are on the west coast or in Vegas.

On Dec 1, 3:10*pm, wrote:

You haven't even put your house on the market yet and you hope to have
it sold by Jan or Feb? * There are loads of houses in most of the
country that have been on the market for a year and haven't sold.

Second big problem. * The federal tax credit you refer to was set to
expire this year, but was extended until April 30. * *Given that, it
would seem you'd be very lucky if you can get your house sold and
another existing one bought by then, *Forget about building and
getting the credit. * Also, I wouldn't get so focused on the $6500 tax
credit that I wind up selling the existing house for $20,000 less to
get the deal done.

Actually the housing crash hasn't hit our area as it has others. Most
houses we've seen go on the market sell in weeks or a month to 6 weeks
tops unless there's something wrong with them (in flood plain,
foundation problems, etc). Also the area we currently live in is
actually one many are looking to move to and houses rarely go up for
sale, so I'm keeping my fingers crossed that we will be sold within a
month or two tops which from talking to local Realtors is more than
feasible. We live in a good area and on a nice lot (1.5 acres), and
we've made LOTS of updates to the house - new roof, 15 SEER HVAC
system, laminate floors, counter tops/sink, etc - so we have many
pro's in our favor to sell quickly. It's just a matter of finishing
up the few projects we still have outstanding before listing it. The
main reasons we want to move is to be closer to town and to have a
larger home.

As for building, this is another reason we're looking at the
StyleCraft Builders because they do offer a contingency that our house
sells first, and if it doesn't sell by the time the house is complete
we can either walk away loosing our earnest money or we can choose to
build on another lot and another contract will be written. The house
they built for us would just be sold to someone else. As for the
tract builders and 'cookie cutter look', one pro with going with these
guys is they have about 75 plans to choose from, and each has two or
more 'elevations' with completely different fronts... so the houses
don't look alike a all which we like. There is only one other house
in the community with the same floor plan and elevation we've chosen,
and it has complete different colors and is mirrored to what we'll
have. There are several local builders who have built neighborhoods
of 50-200 homes using 3-4 floor plans, and yeah you might see 5 houses
in a row that are identical. We didn't want that, and this builder
won't let you build one style next to another.

Resale is another factor though we hope there's no need to sell
anytime soon. I just went to Zillow and compared houses in the
neighborhood we hope to build in to other nice neighborhoods in the
area, and honestly it looks like the area we're looking to build is
about $10/sqft higher than most. There are three houses right now in
the neighborhood we're looking at for sale, and they're about $90-$95
per square foot... some of the other neighborhoods are closer to $80-
$85 per square foot. The house we're looking at having built will be
$85 per square foot.

And for the tax credit, yeah that's gotten us motivated because it is
feasible given our house sells in a reasonable amount of time ... but
if it doesn't we won't loose any sleep over it.

I liked the idea of having an independent inspector check out the
place throughout construction. They ask that we do hire an
independent inspector upon completion and the city will be inspecting
it throughout construction, so hopefully that'll find any problems.

But again, this is my logic after researching the heck out of the
builder and neighborhood, but what else am I missing? If anyone's in
the Bryan/College Station or Waco areas, do you have any experience
with StyleCraft Builders?

Thanks --

Sam Alex

On Dec 1, 3:10*pm, wrote:

You haven't even put your house on the market yet and you hope to have
it sold by Jan or Feb? * There are loads of houses in most of the
country that have been on the market for a year and haven't sold.

Second big problem. * The federal tax credit you refer to was set to
expire this year, but was extended until April 30. * *Given that, it
would seem you'd be very lucky if you can get your house sold and
another existing one bought by then, *Forget about building and
getting the credit. * Also, I wouldn't get so focused on the $6500 tax
credit that I wind up selling the existing house for $20,000 less to
get the deal done.

Actually the housing crash hasn't hit our area as it has others. Most
houses we've seen go on the market sell in weeks or a month to 6 weeks
tops unless there's something wrong with them (in flood plain,
foundation problems, etc). Also the area we currently live in is
actually one many are looking to move to and houses rarely go up for
sale, so I'm keeping my fingers crossed that we will be sold within a
month or two tops which from talking to local Realtors is more than
feasible. We live in a good area and on a nice lot (1.5 acres), and
we've made LOTS of updates to the house - new roof, 15 SEER HVAC
system, laminate floors, counter tops/sink, etc - so we have many
pro's in our favor to sell quickly. It's just a matter of finishing
up the few projects we still have outstanding before listing it. The
main reasons we want to move is to be closer to town and to have a
larger home.

As for building, this is another reason we're looking at the
StyleCraft Builders because they do offer a contingency that our house
sells first, and if it doesn't sell by the time the house is complete
we can either walk away loosing our earnest money or we can choose to
build on another lot and another contract will be written. The house
they built for us would just be sold to someone else. As for the
tract builders and 'cookie cutter look', one pro with going with these
guys is they have about 75 plans to choose from, and each has two or
more 'elevations' with completely different fronts... so the houses
don't look alike a all which we like. There is only one other house
in the community with the same floor plan and elevation we've chosen,
and it has complete different colors and is mirrored to what we'll
have. There are several local builders who have built neighborhoods
of 50-200 homes using 3-4 floor plans, and yeah you might see 5 houses
in a row that are identical. We didn't want that, and this builder
won't let you build one style next to another.

Resale is another factor though we hope there's no need to sell
anytime soon. I just went to Zillow and compared houses in the
neighborhood we hope to build in to other nice neighborhoods in the
area, and honestly it looks like the area we're looking to build is
about $10/sqft higher than most. There are three houses right now in
the neighborhood we're looking at for sale, and they're about $90-$95
per square foot... some of the other neighborhoods are closer to $80-
$85 per square foot. The house we're looking at having built will be
$85 per square foot.

And for the tax credit, yeah that's gotten us motivated because it is
feasible given our house sells in a reasonable amount of time ... but
if it doesn't we won't loose any sleep over it.

I liked the idea of having an independent inspector check out the
place throughout construction. They ask that we do hire an
independent inspector upon completion and the city will be inspecting
it throughout construction, so hopefully that'll find any problems.

But again, this is my logic after researching the heck out of the
builder and neighborhood, but what else am I missing? If anyone's in
the Bryan/College Station or Waco areas, do you have any experience
with StyleCraft Builders?

Thanks --

Sam Alex

On Dec 1, 10:10�am, Alex wrote:
Hi Everyone,

My wife and I have decided to sell our older ranch style house to move
up to something newer and bigger since we now have a kiddo with
hopefully more to come. �But with this we're debating on whether to
build or buy, and with that we'd like to jump on whatever decision we
make to meet the deadline for the $6500 tax credit if possible.

We've literally been driving around neighborhoods in our area for a
few years now seeing what's out there, plus we've both bought and sold
houses in the past so we're not green in that part of it. �My concerns
are more with building vs buying because in our area, Waco, Tx, it
seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. �It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

Our first step is getting our house ready to sell, which we still have
some projects to finish, hopefully by end of December with the house
going on the market before then.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. �We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. �It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? �Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. �My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. �Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. �We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

Has anyone gone down this path??? Are we missing something? �Also are
there any factors we're over looking or putting too much emphases on?

Thanks for any suggestions or advice... �Take care,

Sam Alex

First, are you planning on living in the new home forever? If so, you
will probably be surprised that you won't. You may want to move after
the kids move out.

Second, No house, custom or tract, will be the perfect home for you.
There is no such thing as a perfect house.

Third, I am assuning you are a young couple, so, plan for the future.
Schools make a big difference in holding value.

Fourth, location, location, location. You may get less house for the
money in a more desirable area. But that isn't necessarily a bad
thing.

Fifth, Realtors will negotiate their fees


Hank

On Dec 1, 10:10�am, Alex wrote:
Hi Everyone,

My wife and I have decided to sell our older ranch style house to move
up to something newer and bigger since we now have a kiddo with
hopefully more to come. �But with this we're debating on whether to
build or buy, and with that we'd like to jump on whatever decision we
make to meet the deadline for the $6500 tax credit if possible.

We've literally been driving around neighborhoods in our area for a
few years now seeing what's out there, plus we've both bought and sold
houses in the past so we're not green in that part of it. �My concerns
are more with building vs buying because in our area, Waco, Tx, it
seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. �It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

Our first step is getting our house ready to sell, which we still have
some projects to finish, hopefully by end of December with the house
going on the market before then.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. �We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. �It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? �Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. �My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. �Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. �We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

Has anyone gone down this path??? Are we missing something? �Also are
there any factors we're over looking or putting too much emphases on?

Thanks for any suggestions or advice... �Take care,

Sam Alex

First, are you planning on living in the new home forever? If so, you
will probably be surprised that you won't. You may want to move after
the kids move out.

Second, No house, custom or tract, will be the perfect home for you.
There is no such thing as a perfect house.

Third, I am assuning you are a young couple, so, plan for the future.
Schools make a big difference in holding value.

Fourth, location, location, location. You may get less house for the
money in a more desirable area. But that isn't necessarily a bad
thing.

Fifth, Realtors will negotiate their fees


Hank

"Robert Neville" wrote in message

The OP has six months. If they hustle, sell their current house quickly
and do a
few things in parallel (like getting the plan finalized), I think it's
still
doable.

It may take him longer than that just to get financing. I've been hearing
horror stories from people with good credit and 50% or more down.

As for the tax credit, was that not for first time buyers?

"Robert Neville" wrote in message

The OP has six months. If they hustle, sell their current house quickly
and do a
few things in parallel (like getting the plan finalized), I think it's
still
doable.

It may take him longer than that just to get financing. I've been hearing
horror stories from people with good credit and 50% or more down.

As for the tax credit, was that not for first time buyers?

"Ed Pawlowski" wrote in message
...


As for the tax credit, was that not for first time buyers?

That's the way I read it. If the OP already owns a house, he is NOT eligible
for the $6,500.

"Ed Pawlowski" wrote in message
...


As for the tax credit, was that not for first time buyers?

That's the way I read it. If the OP already owns a house, he is NOT eligible
for the $6,500.

"Alex" wrote in message
...
Hi Everyone,

My wife and I have decided to sell our older ranch style house to move
up to something newer and bigger since we now have a kiddo with
hopefully more to come. But with this we're debating on whether to
build or buy, and with that we'd like to jump on whatever decision we
make to meet the deadline for the $6500 tax credit if possible.

We've literally been driving around neighborhoods in our area for a
few years now seeing what's out there, plus we've both bought and sold
houses in the past so we're not green in that part of it. My concerns
are more with building vs buying because in our area, Waco, Tx, it
seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

Our first step is getting our house ready to sell, which we still have
some projects to finish, hopefully by end of December with the house
going on the market before then.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

Has anyone gone down this path??? Are we missing something? Also are
there any factors we're over looking or putting too much emphases on?

Thanks for any suggestions or advice... Take care,

Sam Alex


All builders cut a few corners somewhere because building the "perfect
house" costs mega $.

The key is to find one who economizes in the same place you would and you
sound like you have enough knowledge to decide that.

Your selling plans might be a bit optimistic in the current market. I would
move twice and live in a rooming house before I would buy without having
closed on my current house. I did that once about 20 years ago and it just
isn't any fun.


--
Colbyt
Please come visit www.househomerepair.com

"Alex" wrote in message
...
Hi Everyone,

My wife and I have decided to sell our older ranch style house to move
up to something newer and bigger since we now have a kiddo with
hopefully more to come. But with this we're debating on whether to
build or buy, and with that we'd like to jump on whatever decision we
make to meet the deadline for the $6500 tax credit if possible.

We've literally been driving around neighborhoods in our area for a
few years now seeing what's out there, plus we've both bought and sold
houses in the past so we're not green in that part of it. My concerns
are more with building vs buying because in our area, Waco, Tx, it
seems most houses anymore are built by tract builders, local builders
who throw stuff together (pseudo-tract/cookie cutter homes), or the
more lavish builders who are way out of our price range. It seems
most of the smaller builders who most people suggest didn't make it
after the recession and are now out of business.

Our first step is getting our house ready to sell, which we still have
some projects to finish, hopefully by end of December with the house
going on the market before then.

The first option we're looking at is building with a local tract
builder called StyleCraft Builders. We like the neighborhood and have
a floor plan we love, and the few people in the neighborhood we've
talked to highly recommend them. It's still a tract home which we're
worried about, so should this be a concern if we've read nothing bad
about them and they are A+ with BBB with no complaints? Also though
I'm no expert in the field, I've walked through several of the houses
they're building and the framing and structure looks sound.

Another option is going the traditional route and finding a Realtor
and buying a house that's already built. My worry though is we'll
have to settle with that's available and still pay what we'd pay to
have a custom house built through StyleCraft Builders.

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

No matter which route we take our goal is to have our current house on
the market by years end and hopefully have it sold by end of January
or February. We've already found an apartment in the area we want to
move to which does offer short term leasing, and we're looking at
storage sheds now.

Has anyone gone down this path??? Are we missing something? Also are
there any factors we're over looking or putting too much emphases on?

Thanks for any suggestions or advice... Take care,

Sam Alex


All builders cut a few corners somewhere because building the "perfect
house" costs mega $.

The key is to find one who economizes in the same place you would and you
sound like you have enough knowledge to decide that.

Your selling plans might be a bit optimistic in the current market. I would
move twice and live in a rooming house before I would buy without having
closed on my current house. I did that once about 20 years ago and it just
isn't any fun.


--
Colbyt
Please come visit www.househomerepair.com

"Ed Pawlowski" wrote:

It may take him longer than that just to get financing. I've been hearing
horror stories from people with good credit and 50% or more down.

I've not seen any evidence of problems for people with good credit - keeping in
mind that the definition of good has changed by about 75 FICO points over the
past 18 months.

Just walked a relative through her first home purchase. 3.5% down on a FHA
mortgage, 5% rate, new construction. No hangups, exceptions or surprises.

As for the tax credit, was that not for first time buyers?

The original one was. About a month ago Congress extended the expiration date
through next April and added move up buyers who have been in their current house
for 3 years or more.

"Ed Pawlowski" wrote:

It may take him longer than that just to get financing. I've been hearing
horror stories from people with good credit and 50% or more down.

I've not seen any evidence of problems for people with good credit - keeping in
mind that the definition of good has changed by about 75 FICO points over the
past 18 months.

Just walked a relative through her first home purchase. 3.5% down on a FHA
mortgage, 5% rate, new construction. No hangups, exceptions or surprises.

As for the tax credit, was that not for first time buyers?

The original one was. About a month ago Congress extended the expiration date
through next April and added move up buyers who have been in their current house
for 3 years or more.

"h" wrote:

That's the way I read it. If the OP already owns a house, he is NOT eligible
for the $6,500.

Out of date information. Current program description can be found he
http://federalhousingtaxcredit.com/

"h" wrote:

That's the way I read it. If the OP already owns a house, he is NOT eligible
for the $6,500.

Out of date information. Current program description can be found he
http://federalhousingtaxcredit.com/

Robert Neville wrote:

As for the tax credit, was that not for first time buyers?

The original one was. About a month ago Congress extended the expiration date
through next April and added move up buyers who have been in their current house
for 3 years or more.


Correction: Must have lived in current house 5 of the past 8 years.

Robert Neville wrote:

As for the tax credit, was that not for first time buyers?

The original one was. About a month ago Congress extended the expiration date
through next April and added move up buyers who have been in their current house
for 3 years or more.


Correction: Must have lived in current house 5 of the past 8 years.

"Robert Neville" wrote
Robert Neville wrote:

The original one was. About a month ago Congress extended the expiration
date
through next April and added move up buyers who have been in their current
house
for 3 years or more.

Correction: Must have lived in current house 5 of the past 8 years.

Not that I'm selling mind you, but didnt anyone realize the largest set hit
there would be active duty military? My house was rented 2001-2007 due to
military orders overseas.

It's not even like I had a choice about it if I wanted to fill our my
career. Grin, thats why they are called 'orders' not 'suggestions'.

"Robert Neville" wrote
Robert Neville wrote:

The original one was. About a month ago Congress extended the expiration
date
through next April and added move up buyers who have been in their current
house
for 3 years or more.

Correction: Must have lived in current house 5 of the past 8 years.

Not that I'm selling mind you, but didnt anyone realize the largest set hit
there would be active duty military? My house was rented 2001-2007 due to
military orders overseas.

It's not even like I had a choice about it if I wanted to fill our my
career. Grin, thats why they are called 'orders' not 'suggestions'.

"cshenk" wrote:

Not that I'm selling mind you, but didnt anyone realize the largest set hit
there would be active duty military? My house was rented 2001-2007 due to
military orders overseas.

I'm thinking the current administration doesn't have the special needs of our
military members/families anywhere near the top of their radar.

"cshenk" wrote:

Not that I'm selling mind you, but didnt anyone realize the largest set hit
there would be active duty military? My house was rented 2001-2007 due to
military orders overseas.

I'm thinking the current administration doesn't have the special needs of our
military members/families anywhere near the top of their radar.

h wrote:
"Ed Pawlowski" wrote in message
...

As for the tax credit, was that not for first time buyers?

That's the way I read it. If the OP already owns a house, he is NOT eligible
for the $6,500.



The new tax credit requires that you have lived in your home for 5 years
and stay in the new home for 3 years after closing... all of which
applies to us. So we should be good given we can be under contract and
close by the deadlines.

Sam Alex

h wrote:
"Ed Pawlowski" wrote in message
...

As for the tax credit, was that not for first time buyers?

That's the way I read it. If the OP already owns a house, he is NOT eligible
for the $6,500.



The new tax credit requires that you have lived in your home for 5 years
and stay in the new home for 3 years after closing... all of which
applies to us. So we should be good given we can be under contract and
close by the deadlines.

Sam Alex

Hustlin' Hank wrote:

First, are you planning on living in the new home forever? If so, you
will probably be surprised that you won't. You may want to move after
the kids move out.

Second, No house, custom or tract, will be the perfect home for you.
There is no such thing as a perfect house.

Third, I am assuning you are a young couple, so, plan for the future.
Schools make a big difference in holding value.

Fourth, location, location, location. You may get less house for the
money in a more desirable area. But that isn't necessarily a bad
thing.

Fifth, Realtors will negotiate their fees


Hank

Hi Hank,

Actually we're in our lower 30's with a 2 year old and another one
planned very soon The house we live in now was mine before my wife
and I got together, so I didn't anticipate how much space we would need.
Now that we've lived in the house 5 years as a couple and 2.5 with a
kiddo we've learned quickly that we've outgrown where we're at now which
is why we're looking to move.

We also debated on expanding the house, but financially we figure it's
better to find something new then try to expand a 30 year old house.
Besides if we sank more then 10K-15K into this house we would never get
our money back if we did sell.

And you're right, nothing is perfect. I've talked to friends who had
houses built and none were 100% satisfied, in fact some have moved since
building because they didn't anticipate their needs or the house correctly.

I just want to be sure we're doing every bit of research possible before
leaping, and thanks to you and everyone else for the advice and anything
else that may crop up.

Sam Alex

Hustlin' Hank wrote:

First, are you planning on living in the new home forever? If so, you
will probably be surprised that you won't. You may want to move after
the kids move out.

Second, No house, custom or tract, will be the perfect home for you.
There is no such thing as a perfect house.

Third, I am assuning you are a young couple, so, plan for the future.
Schools make a big difference in holding value.

Fourth, location, location, location. You may get less house for the
money in a more desirable area. But that isn't necessarily a bad
thing.

Fifth, Realtors will negotiate their fees


Hank

Hi Hank,

Actually we're in our lower 30's with a 2 year old and another one
planned very soon The house we live in now was mine before my wife
and I got together, so I didn't anticipate how much space we would need.
Now that we've lived in the house 5 years as a couple and 2.5 with a
kiddo we've learned quickly that we've outgrown where we're at now which
is why we're looking to move.

We also debated on expanding the house, but financially we figure it's
better to find something new then try to expand a 30 year old house.
Besides if we sank more then 10K-15K into this house we would never get
our money back if we did sell.

And you're right, nothing is perfect. I've talked to friends who had
houses built and none were 100% satisfied, in fact some have moved since
building because they didn't anticipate their needs or the house correctly.

I just want to be sure we're doing every bit of research possible before
leaping, and thanks to you and everyone else for the advice and anything
else that may crop up.

Sam Alex

On Tue, 01 Dec 2009 19:11:06 -0600, Sam Alexander
wrote:
snip

Actually we're in our lower 30's with a 2 year old and another one
planned very soon The house we live in now was mine before my wife
and I got together, so I didn't anticipate how much space we would need.
Now that we've lived in the house 5 years as a couple and 2.5 with a
kiddo we've learned quickly that we've outgrown where we're at now which
is why we're looking to move.

We also debated on expanding the house, but financially we figure it's
better to find something new then try to expand a 30 year old house.
Besides if we sank more then 10K-15K into this house we would never get
our money back if we did sell.

And you're right, nothing is perfect. I've talked to friends who had
houses built and none were 100% satisfied, in fact some have moved since
building because they didn't anticipate their needs or the house correctly.

I just want to be sure we're doing every bit of research possible before
leaping, and thanks to you and everyone else for the advice and anything
else that may crop up.

Sam Alex

Another thing to watch for if you build...allowances. I keep hearing
of builders setting allowances for lighting, appliances, flooring,
etc. unrealistically low to keep their package price attractive. When
the buyers actually go shopping for these items they either have to
pony up a lot more money to get the style and quality they want, or
settle for low end materials. Those items can be surprisingly
expensive. You may want to shop around ahead of time to see what a
reasonable budget for those items will be given your area, taste and
quality expectations. Make sure you know what allowances the builder
includes in his bid so you can judge if they are adequate and can
compare different builders apples to apples.

HTH,

Paul

On Tue, 01 Dec 2009 19:11:06 -0600, Sam Alexander
wrote:
snip

Actually we're in our lower 30's with a 2 year old and another one
planned very soon The house we live in now was mine before my wife
and I got together, so I didn't anticipate how much space we would need.
Now that we've lived in the house 5 years as a couple and 2.5 with a
kiddo we've learned quickly that we've outgrown where we're at now which
is why we're looking to move.

We also debated on expanding the house, but financially we figure it's
better to find something new then try to expand a 30 year old house.
Besides if we sank more then 10K-15K into this house we would never get
our money back if we did sell.

And you're right, nothing is perfect. I've talked to friends who had
houses built and none were 100% satisfied, in fact some have moved since
building because they didn't anticipate their needs or the house correctly.

I just want to be sure we're doing every bit of research possible before
leaping, and thanks to you and everyone else for the advice and anything
else that may crop up.

Sam Alex

Another thing to watch for if you build...allowances. I keep hearing
of builders setting allowances for lighting, appliances, flooring,
etc. unrealistically low to keep their package price attractive. When
the buyers actually go shopping for these items they either have to
pony up a lot more money to get the style and quality they want, or
settle for low end materials. Those items can be surprisingly
expensive. You may want to shop around ahead of time to see what a
reasonable budget for those items will be given your area, taste and
quality expectations. Make sure you know what allowances the builder
includes in his bid so you can judge if they are adequate and can
compare different builders apples to apples.

HTH,

Paul

"Robert Neville" wrote in message
...
"Ed Pawlowski" wrote:

It may take him longer than that just to get financing. I've been hearing
horror stories from people with good credit and 50% or more down.

I've not seen any evidence of problems for people with good credit -
keeping in
mind that the definition of good has changed by about 75 FICO points over
the
past 18 months.

Just walked a relative through her first home purchase. 3.5% down on a FHA
mortgage, 5% rate, new construction. No hangups, exceptions or surprises.

Maybe better for existing homes, not so good for new.

My company makes ICFs used to build both residential and commercial
projects.

I know of a half dozen people not able to get the banks to give a nod. In
one case, the owner owns the land free and clear, has the well and septic in
place and paid for and cannot get the money for the house with 20% down.

I know of a builder that has 5 prospective houses to start, all waiting for
money.

I know of a commercial project, a hotel that was started and the lender
backed out. Owner has put in 20% of his own money so far and had to halt
construction.

Another commercial project the owner is putting up 80% in cash but cannot
get a commitment for the other 20%. Others are waiting and waiting. These
projects are located in NY, CT, PA, ME, and one in Canada

Consequently, our business is off 40% from last year. We do not expect to
do any better next year and hope to recover in 2011.



As for the tax credit, was that not for first time buyers?

The original one was. About a month ago Congress extended the expiration
date
through next April and added move up buyers who have been in their current
house
for 3 years or more.

So, I see.
The Worker, Homeownership, and Business Assistance Act of 2009 has extended
the tax credit of up to $8,000 for qualified first-time home buyers
purchasing a principal residence. It also authorized a tax credit of up to
$6,500 for qualified repeat home buyers.

"Robert Neville" wrote in message
...
"Ed Pawlowski" wrote:

It may take him longer than that just to get financing. I've been hearing
horror stories from people with good credit and 50% or more down.

I've not seen any evidence of problems for people with good credit -
keeping in
mind that the definition of good has changed by about 75 FICO points over
the
past 18 months.

Just walked a relative through her first home purchase. 3.5% down on a FHA
mortgage, 5% rate, new construction. No hangups, exceptions or surprises.

Maybe better for existing homes, not so good for new.

My company makes ICFs used to build both residential and commercial
projects.

I know of a half dozen people not able to get the banks to give a nod. In
one case, the owner owns the land free and clear, has the well and septic in
place and paid for and cannot get the money for the house with 20% down.

I know of a builder that has 5 prospective houses to start, all waiting for
money.

I know of a commercial project, a hotel that was started and the lender
backed out. Owner has put in 20% of his own money so far and had to halt
construction.

Another commercial project the owner is putting up 80% in cash but cannot
get a commitment for the other 20%. Others are waiting and waiting. These
projects are located in NY, CT, PA, ME, and one in Canada

Consequently, our business is off 40% from last year. We do not expect to
do any better next year and hope to recover in 2011.



As for the tax credit, was that not for first time buyers?

The original one was. About a month ago Congress extended the expiration
date
through next April and added move up buyers who have been in their current
house
for 3 years or more.

So, I see.
The Worker, Homeownership, and Business Assistance Act of 2009 has extended
the tax credit of up to $8,000 for qualified first-time home buyers
purchasing a principal residence. It also authorized a tax credit of up to
$6,500 for qualified repeat home buyers.

Alex wrote:

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

Building a custom house is great if you can do it at an affordable cost.
You already realize the time frame is going to be longer than the end of May
so your expectations may be realistic.

Assess your wants and needs. Are you willing to show restraint to fit the
house to your budget? Often, once the house is underway, people want to
upgrade to fancier tile, better appliances, wider driveway, second floor on
the garage, and find they are way over their heads in debt. Do you have the
time to be at the job site frequently? That is a must to assure you are
getting what you want and that plans and drawings are properly interpreted.
Be aware that you pay for changes along the way too. When you say, 'yes,
the sink should really be on that wall, " it can cost you hundreds of
dollars to move it.

I'd like to build the house of my dreams, but I can't afford it the way I
want it. The house would not be huge, but it would have top quality
materials and cost double what a comparable average house would cost. So,
I'm happy where I am and I've done upgrades along the way. .

If you buy an existing house it is what it is and can be modified. If you
contract for a house to be built, it will probably cost a bit more than the
original contract because of changes along the way. If you build it
yourself, it can be a crap shoot.

I know of one couple that built their first house themselves, moved in to it
and six months later started on their second house to avoid the errors of
the first one. They sold the first at a nice profit though, a winning
situation.

One of my friends built his own house 15 years ago. It still does not have
doors on a couple of closets. Initially ran short of money then never found
the time to complete.

Every custom house ever built has some stories to it. Listen to some so you
can avoid the really dumb ones and take advantage of the good tips.

Alex wrote:

And the last option is finding a local builder to build the house and
hope they shoot is strait and stick around long enough to honor any
warranty work. Going this route probably won't make us eligible for
the tax credit since closing has to be done by end of May 2010, but
I'm not too worried about that if we go this route.

Building a custom house is great if you can do it at an affordable cost.
You already realize the time frame is going to be longer than the end of May
so your expectations may be realistic.

Assess your wants and needs. Are you willing to show restraint to fit the
house to your budget? Often, once the house is underway, people want to
upgrade to fancier tile, better appliances, wider driveway, second floor on
the garage, and find they are way over their heads in debt. Do you have the
time to be at the job site frequently? That is a must to assure you are
getting what you want and that plans and drawings are properly interpreted.
Be aware that you pay for changes along the way too. When you say, 'yes,
the sink should really be on that wall, " it can cost you hundreds of
dollars to move it.

I'd like to build the house of my dreams, but I can't afford it the way I
want it. The house would not be huge, but it would have top quality
materials and cost double what a comparable average house would cost. So,
I'm happy where I am and I've done upgrades along the way. .

If you buy an existing house it is what it is and can be modified. If you
contract for a house to be built, it will probably cost a bit more than the
original contract because of changes along the way. If you build it
yourself, it can be a crap shoot.

I know of one couple that built their first house themselves, moved in to it
and six months later started on their second house to avoid the errors of
the first one. They sold the first at a nice profit though, a winning
situation.

One of my friends built his own house 15 years ago. It still does not have
doors on a couple of closets. Initially ran short of money then never found
the time to complete.

Every custom house ever built has some stories to it. Listen to some so you
can avoid the really dumb ones and take advantage of the good tips.

Sam Alexander wrote:
Hustlin' Hank wrote:

First, are you planning on living in the new home forever? If so, you
will probably be surprised that you won't. You may want to move after
the kids move out.

Second, No house, custom or tract, will be the perfect home for you.
There is no such thing as a perfect house.

Third, I am assuning you are a young couple, so, plan for the future.
Schools make a big difference in holding value.

Fourth, location, location, location. You may get less house for the
money in a more desirable area. But that isn't necessarily a bad
thing.

Fifth, Realtors will negotiate their fees


Hank

Hi Hank,

Actually we're in our lower 30's with a 2 year old and another one
planned very soon The house we live in now was mine before my wife
and I got together, so I didn't anticipate how much space we would need.
Now that we've lived in the house 5 years as a couple and 2.5 with a
kiddo we've learned quickly that we've outgrown where we're at now which
is why we're looking to move.

We also debated on expanding the house, but financially we figure it's
better to find something new then try to expand a 30 year old house.
Besides if we sank more then 10K-15K into this house we would never get
our money back if we did sell.

And you're right, nothing is perfect. I've talked to friends who had
houses built and none were 100% satisfied, in fact some have moved since
building because they didn't anticipate their needs or the house correctly.

I just want to be sure we're doing every bit of research possible before
leaping, and thanks to you and everyone else for the advice and anything
else that may crop up.

Sam Alex
Hi,
It is so right there is no perfect house. I have custom built 6 houses
plus a cabin in the woods. Every time it got closer to perfect but
never 100%. At least in this house We have PLENTY of closet space
and lots of light throughout during the day like green house. When
we ordered window coverings, they couldn't believe how many windows
we have, LOL! I am in early 70 so ran out of time to try again. My
lot(7 house Cul de Sac) has a view of mountains, river/wilderness park
in the front and golf course next to it. Schools(K-9) are at walking
distance.

Sam Alexander wrote:
Hustlin' Hank wrote:

First, are you planning on living in the new home forever? If so, you
will probably be surprised that you won't. You may want to move after
the kids move out.

Second, No house, custom or tract, will be the perfect home for you.
There is no such thing as a perfect house.

Third, I am assuning you are a young couple, so, plan for the future.
Schools make a big difference in holding value.

Fourth, location, location, location. You may get less house for the
money in a more desirable area. But that isn't necessarily a bad
thing.

Fifth, Realtors will negotiate their fees


Hank

Hi Hank,

Actually we're in our lower 30's with a 2 year old and another one
planned very soon The house we live in now was mine before my wife
and I got together, so I didn't anticipate how much space we would need.
Now that we've lived in the house 5 years as a couple and 2.5 with a
kiddo we've learned quickly that we've outgrown where we're at now which
is why we're looking to move.

We also debated on expanding the house, but financially we figure it's
better to find something new then try to expand a 30 year old house.
Besides if we sank more then 10K-15K into this house we would never get
our money back if we did sell.

And you're right, nothing is perfect. I've talked to friends who had
houses built and none were 100% satisfied, in fact some have moved since
building because they didn't anticipate their needs or the house correctly.

I just want to be sure we're doing every bit of research possible before
leaping, and thanks to you and everyone else for the advice and anything
else that may crop up.

Sam Alex
Hi,
It is so right there is no perfect house. I have custom built 6 houses
plus a cabin in the woods. Every time it got closer to perfect but
never 100%. At least in this house We have PLENTY of closet space
and lots of light throughout during the day like green house. When
we ordered window coverings, they couldn't believe how many windows
we have, LOL! I am in early 70 so ran out of time to try again. My
lot(7 house Cul de Sac) has a view of mountains, river/wilderness park
in the front and golf course next to it. Schools(K-9) are at walking
distance.