| |
Frequently Asked Questions:
- What is included in the sales price?
- Each of our customers has unique circumstances that are addressed in the construction contract. You may already own a lot or it may be included. The amenities you choose and the level of finish you desire will all be detailed in your contract and the Specifications of Materials, which becomes part of the contract.
- How much does land cost?
- Land costs vary greatly by location. A lakefront lot will undoubtedly run more than a small lot in a subdivision. A great source to check for land costs and availability is to contact Vicki Duncan-Murdock, with Coldwell Banker Wallace & Wallace, Realtors. With over 20 years of real estate experience in the Greater Knoxville Area, she has an exceptional record of matching the right person with the right place.
- Are there additional building costs?
- Additional building costs are directly related to the lot you have chosen. Typically, these costs can include excavation, grading, putting in a driveway and/or sidewalks, running utility lines (water, sewer, gas, cable, etc.), well installation, or septic system installation. Robert Murdock will guide you through the process of establishing what additional costs will be necessary and adding these allowances to your construction contract.
- Where do you build?
- The majority of homes that we have built are in Knox, Anderson, Roane, and Loudon Counties. However, we sometimes build farther out for our customers. Tell us your location and we can discuss the possibilities.
- Can I choose my own house plan?
- It is good if you have located some house plans that you like. However, many times a customer has paid for a plan that does not fit their lot correctly, would be more expensive to build than hoped for, or does not meet the subdivision’s restrictions. Robert will help you choose a plan that will be the most suitable for your requirements.
- Can I customize the house plans?
- Absolutely! We can make the plan larger, move walls, change windows or doors, or just about anything else you might have in mind. You will choose the floor coverings, the cabinets and countertops, the lighting fixtures, the appliances, and the paint colors. Robert will help you make your home special.
- Can I finance the lot with my home loan?
- Certainly. Most lenders allow land/home packages. This dispels the notion that you must own the land outright to build your new home on it. We can recommend lenders in this area that can answer your financing questions in more detail.
- What if I have a home to sell? Can I still build my new home?
- Many of our customers do so to avoid having to move to a temporary home during construction. However, the final answer will depend on your good credit and if you qualify financially for a new home loan without having to sell your current home. Most lenders only require interest payments for the amount of work completed during the construction period so that you would not be making two house payments. These customers list their current home for sale when the new one nears completion.
- Do I need to get pre-qualified?
- It is a very good idea to know how much home you can afford before you start. This will help you make decisions on the lot you choose as well as the house plan you pick.
- How can I find out my credit score and history?
- There are three major credit reporting agencies that monitor all consumer credit. Please let us know if you are interested in this information. We will have one of our proven lenders contact you.
- Do you use name products?
- We use well-known brand products that have shown superior performance and reliability. Some of the names you will recognize are Delta Faucets, GAF/Elk roofing, Mohawk and Armstrong flooring, Dupont Corian® countertops, Sherwin Williams paints, and so on.
- What kind of home warranty do you have?
- Unlike many builders, we do not pass our warranties to third party insurance companies. We provide a full one-year written warranty with no deductibles. If there is a problem with your home, we will be there to take care of it!
- Do you offer financing?
- M-3 Construction Inc. is not a mortgage lender. However, we do have established relationships with several proven lenders that allow us to assist our customers with arranging financing. These lenders make every effort to help you obtain financing at competitive rates and fees.
- When does construction begin?
- Building a new home is an exciting adventure. However, there are several requirements that must be met before construction can begin. Financial arrangements must be in place, and a down payment be made as detailed in your construction contract. You must make final approval of the house plans and site location. Oftentimes, the subdivision architectural committee must approve your plans. Local permitting requirements must be met. Once done and weather permitting, most homes can be completed within six months of construction start.
|
