Is anyone here associated with or have ever used the company UBuildIt? My husband and I are contemplating finding some nice land and building our next home but we'd like to be involved as much as possible. I'm in school for Interior Design so I am planning on customizing a home plan. We've gone to a UBuildIt seminar and I've spoken with a contractor there. It seems like a great thing to do, but I want to hear from others who may have gone this route.
Thanks!
I'm familiar with this company. The first question you must ask yourself is "Am I ready to devote nine months of my life to building a home?" UBuildIt provides the guidance and list of subcontractors for the job. It will still be hands-on process for you.
Have they mentioned what they are going to charge you?
My brother-in-law decided to use this company and when all was said and done. The cost overran their estimate by about $75,000. It took him over a year to finish the home and with the apartment they had to rent and everything, he said he didn't think he would do it again by himself!
Great Tread but I still have some questions? When a client goes with UBuildit is the client considered the general contractor or UBuildit? In regards to a construction loan most builders require some type of design and estimate from the builder for appraisal/loan purposes so if the client is the GC would find this difficult. Perhaps why somewhere in this thread it was noted the IndyMac and National City do not require a GC and this explains why they are the preferred lenders for Ubuildit.
Has anyone represented a client in the purchase of land that they were then going to use Ubuildit to assist in the construction of their home? If IndyMac & National City don't require a GC and Ubuildit is not the GC (and assuming somehow Ubuildit has to get paid) where is the benefit to the client?
Any updates to this thread or comments would be greatly appreciated.
Regards
John Creighton
Vikas, I am a UBuildIt franchise owner in Westminster Maryland. No one can guarantee savings since what you choose to build effects the ultimate value. Not much need for an igloo in Miami. We have bank documented cost-to-appraised value ratios of as high as 50% equity. This past Fall one of our homeowner's earned a smart equity value increase of one million dollars more than the two million the house cost to build. These cost reductions come from volume pricing and competitve bidding. Other long-term savings come from assisting our clients with material and construction method selection. There are so many things you can do when building your home that do not cost a lot of money but reduce your operating and maintenance costs over the long haul. We do not profit from anything you buy so you are receiving recommendations from someone with no skin in the game. Our fee is far less than the cost reductions we bring to the table. It is about earning smart equity. Not just words -- we have appraisal reports. Thank you for considering UBuildIt.
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