What's wrong with the photo in this story? How would you like to be a buyer waiting and not really knowing how long a new construction project will be completed? Will these two companies ever be able to work together again? Would you worry about quality of the construction? What about the potential for liens? If you signed a contract with builder for one of these condos, was is disclosed that a home would be built right in front of the condo building? How do you access that condo garage door behind the new house?
http://richmondbizsense.com/2015/12/07/contractor-sues-developer-over-high-end-condo-project
This story shows some of the concerns a buyer should have when deciding to buy new construction. Buyers usually have no way of knowing which contractors and sub contractors will be working on their new home. This is one reason many new home builders have model homes and preferred contractors and trades people. Any extras, additions, upgrades, etc are decided up front. Builder knows what is to be built and delivered, and buyer knows what to expect. Changes during contruction can lead to numerous problems. Many times, one change can lead to several other changes, and a lot of extra expense. If a buyer wants to move a door over 4' for example, depending how far along the building is, moving the door could cause the duct work to be moved, the electrical wiring to be rerouted, the framing needs to be redone, and it could affect the flooring, trim, sheet rock, etc. Having all of those trades have to come back and make all of those changes can cost thousands of dollars, and cause huge delays in construction, just because a buyer wants a door moved.
As as this story indicates, changes can lead to problems and lawsuits. If you're planning on buying new construction, do your research. If the builder you choose has a model home available, walk through it carefully. If you see something you would like different, like adding a window here, or a door there, discuss that up front. Many builders will refuse to make changes during construction once the contract is signed and building begins.
Jeff Pearl | Lic in VA
Remax Distinctive
703-727-4876
Homes | Land | Farms | Historic
Equal Housing
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