Should we let our custom builder go and build with someone else?
sraymer33
5 years ago
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Laurie Schrader
5 years agolast modified: 5 years agodbrad
5 years agoRelated Discussions
Hiring a full time builder to build a custom home
Comments (22)Munzer1, I can explain to you very simply why what you are asking for is not widely accepted on this website or in the construction industry. If you go to a grocery store, do you tell them how much you will pay for a tube of toothpaste? Of course not. They set the cost. It's all about market value. If you go to a lawyer for legal services, do you tell them how much they are going to charge you? Of course not. Thy set the cost. It's all about market value. If you go to a hospital for treatment, do you tell them how much they are going to charge you for treatment? Of course not. They set the cost. It's all about market value. If you go to a professional assassin to have someone killed, do you tell them how much you'll pay them to off someone for you? Of course not. They set the cost. It's all about market value. Last one, a perfect explain, initially asked by you, if you go through a toll booth, do you tell them how much you will pay them to let you through? Of course not. THEY TELL YOU HOW MUCH YOU WILL PAY FOR THEIR SERVICES. Need I say more? Now, you are free to solicit anyone for any cost and that will be your biggest mistake in building homes. Not paying a qualified individual what they're worth to make sure you get what you want. You can hire a cheap dentist, doctor, or lawyer, buy cheap toothpaste, or take the long way around the river to avoid the toll fee, but in the end you will only waste time and money because YOU were too CHEAP, and you were the rip off....See MoreAllowing custom builder to go creative in certain areas??
Comments (15)I once told a waiter, "I'll take an appetizer, entree, and a dessert, you pick" . . . does that count? I think you meant this as sarcasm but I do this all the time. Do you know what the beef delivery looked like, which were the best vegetables today, have you served several people a dish that they didn't like, or a dish they raved about? Have you tried everything on the menu, cooked by each chef? A good waiter knows all this and loves to hear - "What's good today?" Also if you really want a fun dining experience, go to a nice restaurant and ask if they do a chef 5 course. You will get smaller portions of the five things the chef does best. It is a great dining experience, especially when he comes to your table and says, "tonight I have prepared for you ....." To the OP - If he is a stronger designer than you, and you like his stuff and feel strongly that you would like to have most of the work he has done, then let him do it. If you have a strong vision and sense of design for your house, don't....See MoreNew Build - Questions for Builder Before We Sign a Contract
Comments (133)@Rai Kai … I did learn so much!! Thanks for your contributions! @Beckysharp haha. I will be doing more research with the lawyer. I think overall my realtor was good—but I am not sure if overall we were the right fit. We will see if we stick with her. I know she put a lot of work and time into it --- so I do feel bad about us not going through with it. I will be doing more research and googling, and reading and using all my resources! Promise! @PitrateFoxy – I’ll probably be doing some research on a lawyer to have “on call” when we are at that point. You all were so right about all the other things – and I’m sure a few extra hundred bux (what like 500? ) will put me more at ease as I don’t like surprises unless they flowers, chocolate, or kisses :D @bellburgmaggie – isn’t that the truth. Alos.. Houzz app isn’t going anywhere! I love your story about finidng the right place! Man.. 3.5x your investment!! AWESOME!!! Were you ever concerned about over improving? That’s my biggest fear, especially if we buy very low… You know I always imagined buying the house with the crappy wall paper, shag carpet and pink or green tile in the bathrooms a horrible kitchen and then putting in my DREAM kitchen (or as im learning from houzzers, my 99% dream kitchen!). I think that’s something I was struggling with buying new. Even though I got to make a few selections… it wasn’t tailored to me really. So asking my husband in 3 years to redo the layout of the kitchen wasn’t going to fly :D Location location location is so hard for us. We are transplants – with family in the area, but are having a hard time finding the “right” home town. Everywhere we look is “safe” but I really want that neighborhood feel. I moved to Texas because I love saying yes sir, no ma’am, and I want to raise my kids like that. Sweet tea on the porch and waving to your neighbors. I want to make meals for new moms, or help out my grandparents when they need it. I may not have the Texas accent, and as the saying goes “I wasn’t born in Texas, but I got here as soon as I could!” @jannicone – I’m not deleting Houzz!! Just Realtor, Trulia and Zillow :D It may only last a week, but I need some distance! But I will use it as a resorce to keep an eye on the market and see what really happens during “selling” season. Happy to be sorta liked! @Denita , I should know better. I’m a firm believer that EVERYTHING is negotiable and if you aren’t willing to make any changes (they may not have lost me if they let me go to the design center and let me have 2 extra days – would have cost them nothing) I’m not inclined to play ball. Especially in an industry where negotiation is nearly expected. Looks like I have some more homework and research to do! I may need to find a new realtor. Not that she wasn’t good. I felt like she was doing a good job – but I’ll never know if she asked the builder for things. She did make us feel like her only clients, and she was very attentive and listened to my concerns. But I did get a slight feeling that she was “building” up the home a little more than she should have. We signed a contract for 6 months with her. She led with “if at any time you are done with me, I’ll just rip it up.” Who knows if that will come back to bite me in the butt. But, also thought we were going to end up with the first house and it would all be over. Again, lack of experience on my part. I've done some research on how you should select a buyers agent... and I did kind of do it all wrong....See Morecustom build as an owner builder
Comments (51)It wouldn't be unusual for a GC to gross 30-40% on a project, it's all the other expenses that kill the profit margin. Why would you use gross profit? It literally means nothing in this case, or in the case of the car dealership, which again is a business with high barriers to entry. ---- Gross profit is simply sales less the cost of sales. So for Walmart that would be the amount you paid for merchandise less what they had to pay for it before they sold it to you. So that percentage doesn't include Walmart employee expenses, their warehouse, the stores, their electric bill, etc. It also doesn't mean that you can buy the same stuff Walmart does for the same price they do. Were you to eliminate Walmart, and their 25% gross profit, you wouldn't actually create savings instead you would have to spend more money than someone who buys from Walmart. Coca-Cola has a 60% gross profit margin, but even were you to buy all their ingredients at their price (something you would not be able to do) you still don't have a Coca-Cola... It is wrong to look at gross profit as any kind of measure of value added. It is also wrong to compare gross profit across different industries. Facebook's 83% gross margin seems impressive when compared to Walmart's 25%, but when you compare Facebook's gross margin to Yelp's 94% that doesn't seem so crazy and Walmart to Target's 27%. Different industries generate value in different ways and so you shouldn't compare auto dealers with builders. We should also mention that MSRP has no bearing on gross profit at all, and in the U.S. auto industry it really has little resemblance to actual pricing as very few pay MSRP....See MoreMark Bischak, Architect
5 years agoUser
5 years agolast modified: 5 years agohomechef59
5 years agoindigoheaven
5 years agoartemis_ma
5 years agocpartist
5 years agoJoe P
5 years agoCarolina Kitchen & Bath
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5 years agoVirgil Carter Fine Art
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5 years agolast modified: 5 years agostrategery
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