Master Builders "Q & A" Series Four
Colm here ...
A few months ago I conducted an interview with US Master Builders.
I hope you are enjoying and gaining insight into the building industry from this series of questions and a Master Builders answers .
Here is the next installment from another reader.
I guess 1 and 2 and related but just to rephrase:
Design build is a concept where the contractor (the builder) engages all the consultants for the project and submits a bid to the developer meeting the developers requirements as far as aesthetics and space requirements.
Any of the master builders, if awarded the project, goes ahead and builds the project without the developer having to deal with any consultant. This generally saves the developer the hassle of going through various tender exercises.
This is correct.
Will the builder be able to work out a package with me where I provide the initial concept and schematic design whist the builder provides all the working details and specifications to come to an agreed fixed price plus agreed profit?
Depending upon the builder you choose they should be able to do this for you. Let me walk you through how it should work with developers.
You've done your home work. Know what property you want to build and know how much you want to budget for each property.
You would tell the master builder:
1) Fair Market Value $X
2) Appraised Value $X
3) Cost of each lot $X
4) How much you have budget for each property.
5) If you have floor plan that would be good. You would explain what you have budgeted for each unit and ask if it can build for that? The information is reviewed and details are discussed with you and receive a quote.
The final quote should be all inclusive.
It should includes everything that the master builders can control. Included are the certified architect blueprints, structural engineering reports, cost for building the property.
Insist that you hire the property inspector of your choice to inspect the property BEFORE you take possession of it.
Ask if the master builders also provide you with daily video updates on the project so you have video documentation of the progress of your property.
What kind of warranties do builders offer?
Depends upon the property and place. Some areas require warranty on plumbing, gas lines, etc… Usually all standard warranties in each area. In addition the structural warranty is between five or ten years. The longer the better.
Make sure you understand that a Guarantee is only good if the builder you select is still in business.
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