Pros and Cons of Buying a Lot Prior to Working with a Build

When you are making plans for building your dream house locating the correct lot is the main key to success. Selecting the perfect site for your dream house is the most important thing and you have to make right decision. Always make the right choice to lay strong foundation for your dream home, because once selected there is no way to go back. Let’s discuss pros and cons of buying the lot prior before consulting with the builder.

Pros

  1. Superior Terms On Your Loan: Once you purchase the land the next process is getting the loan; you may get a loan that can cover the building costs fully. This is just because you have a commitment once you buy the land. Consulting with bank, loan officer, or attorney before you purchase the land is a good idea.
  2. You have full Charge: When you have done market research, and found the best place for your new home, ad also purchased land for your home, it’s a good feeling because you are in full charge. You have completed the first step and now the land is yours and you are in the full charge.
  3. Take Your Time: Now you can make the decision for choosing the right lot and you have enough time to pick up the right builder, workout on all details, and find right type of plans without any type of time sensitivities.

Cons

  1. Upfront Payment Increases: In order to hire a builder and buy a land, it is necessary you have more upfront funds. If you don’t have 25-30% solid equity some banks will not give you construction loans.
  2. Risky: If you don’t have a worthy lawyer it’s risky sometimes. You want a fair contract with the builder and also good insurance. Always make sure that your builder has valid insurance for worker liability and compensation.
  3. Property Related Issues: Sometimes lands have physical issues. Always make it clear with septic, water, road access, and sewer. Steeply graded and mountain lands can be a tough job to construct a home, so always choose the land wisely and according to your desired constriction plans.

Bottom Line

It is very important to know the pros and cons of buying a lot prior to consulting with the builder. We have all the pros and cons of buying a lot prior to working with a builder, always keep these pros and cons in your mind before you make any decision.

6 Epic Mistakes to Avoid Building a Strip Mall

Strip malls have become a big mainstay of American’s retail constructions in the suburban and urban areas. These strip shopping malls have become consequently ubiquitous. Sometimes the builders build to little or too much space, or they create some of the units very poorly arranged. Below are six mistakes you must avoid while building a strip mall.

  1. Inconvenience

Shopping centers are built on the idea of convenience and if you took away this factor, it’s going to make your idea failed. There are different ways that can make a shopping center inconvenient.  

  • Too Small Or Too Large or Stuck In Between

The developer may construct something too minor to house the supermarket or another big anchor store that can attract most of your business.

These units may be built larger to be the appropriate place for little convenience type stores. These stores fill small strips.

If the strip mall built many squares inside for the typical units to fill, it’s not going to attract the customers.

  • Not Enough Parking

Parking is one of the common factors you should consider while building a strip mall. Always build a huge parking area to allow customers to park their vehicles easily. It’s a big mistake if you build a small parking area avoid is a mistake.

  • Built In Lousy Place

There are different ways to mesh up the location. Developers built strip malls on an intersection sometimes and it makes harder for the customers to go out and get in. Avoid this mistake while building a strip mall.

  • Not Enough Visibility

The visibility of the strip mall is the most important thing to attract customers. Always keep this thing in your mind and make the strip mall visible to the customers easily. Avoid this make otherwise; your strip mall is going to fail.

  • Unnecessary

Sometimes the developer builds the strip mall in a less populated area or in a place, there is huge competition. This is unnecessary, avoid this mistake.

Bottom Line

There are different factors involved in the failure or success of the strip mall. Always avoid these type of common mistakes and this will help you keep the strip mall at the full capacity.

12 Ways to Ensure You Hire the Right Contractor

If you are seeking for a contractor for your home next project, always keep few details in your mind like your timeline, your budget and the main point is to ensure you hire the right contractor for your home project. Finding the right contractor is not an easy job you have to do your research. Below are important ways to ensure you hire the right contractor.

  1. Beware of Bad Contractors

Beware of bad contractors and always choose a contractor wisely. Hiring a bad contractor may increase your costs and the quality of the work is also not good as compared to professional contractors.

  • Seek Referrals

Ask your friends and family for their references, you can also ask from the building inspector for their recommendations. Referrals save your time and also ensures that you have hired the right contractor for your project.

  • Check Credentials

Call local business bureau and find out about the contractors how long they are working in this industry. You can research all this information online, always check credentials before you hire a contractor.

  • Check Portfolio

Ask your contractor to show you his portfolio, it will help you to make sure that you are hiring a good contractor and he has the ability to complete your work according to your imaginations.

  • Check Insurance Information

Contractors should carry compensation of worker’s personal liability and property damage insurance. Ask for the documentation and also check the expiry date of insurance.

  • Don’t Forget Subcontractors

General contractors also hire some subcontractors; you have to make sure subcontractors have valid insurance too.

  • Take All Estimates in Written Form

Get bids from many reputable contractors. Take their prices in written form so you can choose the lowest bidder for your project.

  • Understand Timing

Ask your contractor about timing how soon he can start working for your project. If a contractor can start in a few days, it’s a sign of a good contractor.

  • Seal Your Deals in Written Form

Make sure to pick a start and end dates, materials, project scope, payments schedule, and all important information is specified in your contract in written form.

  1.  Understand the Work Contract

Don’t assume anything on your own. If you have any confusion about the contract, you can take the services of an attorney to make all things clear about the contract.

  1. Pay Low Upfront

Most contractors ask you to pay 25%-35% upfront before they start working. Never pay high upfront always pay low upfront. Pay the final installment after the project is completed.

  1. Don’t Pay in Cash

Always use your credit card or check, and keep all receipts. This will help you to pay safely and use the payment proof if needed in any situation.