Wondering whether to Build or Hire?
The purchase of a new home may prove to be one of the biggest investments you’ll ever make. Therefore, you want to be certain that your every decision flatters your final goal. If you are considering subcontracting your new home yourself, there are several important questions you should carefully consider before heading to the construction site.
Do you have the final completed price of your home guaranteed in writing?
If you are thinking about building your new home yourself, you may not be able to handle unexpected cost over-runs. However, with a hired professional Builder, you won’t be slapped with any costly surprises. In most cases, the Builder will provide a final written quote for you to sign.
Are you familiar with the requirements of the legislation in your province regarding liens that protect the sub-trades used on your home?
Each province has its own legislation that protects sub-trades in the event that they are not paid. If you are unaware of the requirements, you may face additional costs when trying to resolve any legal action that arises from problems.
Do you have the technical expertise and time to oversee the construction of a new home?
New homes today are complex structures that require a precise degree of multiple skills. These skills are essential in properly completing the construction of a new home. While devoting three to four months of your time supervising the construction of the home, you may be putting your personal job at risk. Furthermore, while on site, you may find that you lack the experience required to recognize and stop potential problems if they arise.
Are you insured against sub-trade injuries on the job site?
Liability on a job site can be disastrous, and you and your family could face financial ruin overnight due to a job site injury. You must verify that your sub-trades can provide proof of liability insurance and coverage under workers compensation. In addition, you may also require Builder’s risk coverage.If you decide to hire a professional Builder, ask about their insurance coverage and what protection you will receive.
How will you handle any unexpected delays?
Running on a fixed schedule may be difficult, and in case of any unexpected delays, you could face cost over-runs. A professional Builder has the experience to schedule the trades and materials in an efficient and cost effective manner.
What guarantee do you have that your sub-trades will show up as scheduled to complete their portion of the construction contract?
It’s difficult to determine the reliability of some sub-trades, especially if you don’t have access to their past references.During the construction of your new home it’s possible some sub-trades will not show up when scheduled causing potentially costly construction delays. However these problems will be eliminated when hiring professional Builders. They provide proven sub-trades who do the job right, and on time.
Without a warranty can you afford to pay for construction defects each time there’s a problem with your new home?
Basement leaks, electrical, plumbing and roofing problems are all defects that may arise during your first year in your new home. These problems may be quite costly to fix without a warranty. Professional Builders registered with Atlantic Home Warranty offer exclusive warranty coverage on enrolled homes for the Homeowner’s peace of mind.
Have you discussed your plans to sub-contract your new home with your financial institution?
There are many issues you need to negotiate with your financial institution before starting the construction of your new home. Issues such as payment schedules, potential cost overruns and inspection requirements could present problems for the novice built home. The process of financing your new home is usually easier and quicker using a professional Builder.
When selling your home, will the potential purchaser pay more for a novice built home or one that was built by a reputable known Builder?
Unfortunately, many consumers will be more confident about the quality of a home if it was built by a reputable Builder. This may mean that your return on home investment dollars will be higher using a professional Builder.
If you would like to search for a Builder registered with the Atlantic Home Warranty, please view our member directory.