In an independent survey of over 1,300 homeowners 50% of respondents reported that their building project was very stressful. A key factor in ensuring that this doesn’t happen to you is finding a highly skilled, knowledgeable and trustworthy professional.
Here are a few things you should look for when searching:
Project management
A reputable custom homebuilder can manage the whole project from design and planning through to completion. They should be able to properly manage the day-to-day processes of the project to make it predictable and without surprises. They will also have the resources to bring in specialized consultants and trades, as well as the systems and checklists in place to protect you, the homeowner, both legally and financially.
Software is critical to ensuring a predictable outcome. It will allow all stakeholders in the project to track decisions and costs (against budget) in real time. An accurate budget is based on facts and good design prior to starting construction. When a project’s cost exceeds its budget it is often due to the original design not accurately reflecting the client’s needs and preferences, or a budget that was too optimistic, or changes that were made during the construction process which were not properly monitored.
Sample project
A successful custom homebuilder will have on-going projects. Ask to visit one of their projects and make sure to take the time to look closely at the small details, as this is a good indication of their quality and work ethic.
References
A good custom homebuilder can always provide references from satisfied clients. Talk to references from both ongoing and completed projects. Was the work done properly, on time, on budget? Did the builder come back and quickly deal with anyone issues? Would they hire them again? These are all important questions to have answered.
Insurance
- Liability Insurance.
No matter how simple or large of a project there is always risk. A builder should carry a minimum of 2 million dollars in liability insurance to protect your home in case of damage. It will also protect the materials stored onsite before installation. Ask the contractor for documented proof of liability insurance coverage. - Work Safe BC Insurance.
A builder should provide proof of WorkSafeBC insurance in the form of a clearance letter. You can easily check online to see whether the builder is in good standing with WorkSafeBC. If there is a work related injury during your home construction you could face lawsuits and financial loss if this insurance is not in place. - Homeowner Protection Office(HPO).
Builders who construct new homes or undertake major renovations affecting ‘building envelope’ must be licensed with HPO and provide proof of third-party home warranty insurance to protect their clients for future warranty repairs. This comprehensive warranty package includes coverage for labour (2 years), building envelope (5 years), and structure (10 years).
Conclusion
You really owe it to both your pocket book and your sanity to be as educated and prepared as possible when building a custom home. Like any big investment it can be exciting and a bit scary, but most importantly you want to ensure that it always pays solid dividends and you can look back pleased with both the end result and the process that got you there.