A Buyer's Guide to Owning Your Own Home
Buying a New Home can be exhausting and confusing to say the least. Chilmark Builders would like to provide some helpful tips to keep in mind during your selection process.
* Before you begin searching, please acquire a Pre-Approval Letter from your mortgage lender. This tool allows you to understand your spending guidelines, in other words, how much you can afford for a New Home.
* Next, do some soul searching about your targeted location. For example, are you a city person that will eventually be unhappy in the country? Do you thrive on the lights, sounds and traffic of the city? If you're not sure, take a drive out to Our homes for sale, bring a folding chair or two, a thermos of coffee, breakfast maybe, and sit on the back porch of any of our Homes under construction. What you hear and see will be the norm and that will be peace and quiet and stars at night.
* The next step is deciding, within your spending guidelines, what are you looking for in a New Home. Do you want/need 4 bedrooms or 2.5 bathrooms? What do you see when you envision 2-3 years from now? Do you need one or more acres? Do you prefer a small yard to attend to? Is a fireplace a must-have? Set your own guidelines and stick to them.
* Many customers ask if they can make selections to a house that is under construction. We love to accommodate our clients, however, that comes in the form of a non-refundable price. Builders cannot afford to accommodate you and risk future sales based on your personal desires. Builders must strive to appeal to the masses when speculative homes are constructed. While we will build, and have built, custom homes of differing sizes, it is a requirement that the client deposit a 10% NON-REFUNDABLE deposit paid directly to Chilmark Builders with a signed contract. Your deposit is stated on the contract and the Buyer gets credit for the desposit at Closing.
* Realtors are very appreciated by builders and other sellers but it bears consideration that their income is dependent upon how much you spend for your new property. The average income to a realtor is 3-5% of your purchase price. If you come to Chilmark Builders directly, without a realtor, Chilmark Builders has a strong history of returning the portion a buyer's realtor would earn, which is 3% (We remain obligated to pay our listing realtor his commision). This comes in the form of a Rebate Check to you after Closing and Funding. For example, if you contract to buy a $300,000.00 home from us, you can expect a check for $9,000.00. (This is your portion of the purchase price that would be going to your realtor). Think of the benefit to your family! This rebate is yours to do with as your wish, however, it cannot be used to lower the price before Closing. The specific reason for this is appraisals and any builder must protect their comparables for future appraisal value. This practice also protects YOUR Home's future appraisal value. Many consider a realtor as a representative of their interests. Rest assured, Chilmark Builders will protect your interests as YOU are our best form of advertisement!
* The area where our New Homes are located, La Vernia, is considered country living versus city living. Country builders have no requirement to have inspections performed for any reason. Chilmark Builders strives to set ourselves apart from the mainstream builder by performing 3 inspections. The first is just prior to the foundation pour to ensure everything is in order by the engineer's specifications. The second inspection is just prior to insulation and sheetrock. We ensure that your Home is properly framed and delivery systems are installed correctly. The last inspection is performed as a final to ensure the Home is functioning as it should. These inspections are "add-ons" to our cost and provide no additional appraisal value, however, they should provide YOU, our buyer, with a sense of peace knowing that we have volutarily done all we could to ensure Quality Craftsmanship.
* We are a small company; therefore, we are very "hands on" our Homes daily, but we are human. To that end, Chilmark Builders provides a Bonded Builders Warranty at closing to our buyers. Some lenders require this, however, we decided it was a benefit to our buyers regardless of their lender's requirements. This tool is a means of protecting against future unforeseen failures in the home. We have been providing this service for the last 4 years and have yet to hear of any buyers utilizing this service, but is sure provides Peace of Mind.
In addition, Chilmark Builders has a very high regard for our Military, Active or Retired, and our First Responders; to include: Fire Fighters, EMT's and Police Officers. If you are in this category, you will receive an additional $2,500.00 rebate after Closing and Funding as our way of saying Thank You for all that you do!