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When you’re making the dream of owning your own home a reality, it is only natural that you want everything to be perfect. And when you’re building your home the cornerstone of that perfection begins with a strong builder that has a proven track record and solid reputation within the community. These days, almost everyone prefers to stretch their dollar as far as it will go, and the last thing anyone wants to do is to get involved with a builder that just can’t live up to its financial obligations.
To help guide you through the process of selecting a quality builder that has the financial strength to sustain the entire project of building your home, here are three essential questions to ask before choosing a builder:
What Is the Condition of the Company’s Financial Health?
Since most builders are are privately owned, they are not likely to share financial information such as statements, tax filings or other documentation that will indicate how strong (or weak) they are as a company. At Charleston Homes, we believe this information is critical in making the decision of whether or not to hire a builder. Charleston Homes works with several banking partners and we invite our existing and potential clients to inquire about our relationships with them. Our banking partners include Security National Bank, First National Bank and Pinnacle Bank.
Ask your prospective builder to provide as much financial information as possible so you can get a glimpse of their financial health. A financially weak company is definitely a risk in terms of investment, and best avoided if possible. Without a solid financial backing, how can you be sure your project will be completed with the best resources possible and how can you be sure it will be finished on time?
How Are The Relationships With Suppliers and Vendors?
The majority of work performed when building a home lies within a set of key suppliers and vendors. Suppliers install the home’s foundation, lumber, siding, heating & cooling, plumbing and electrical systems, windows, cabinets and roofing. All it takes is for just one component to stall for the rest of the project the slow down. The most prevalent reason for delays in construction usually amounts to payments made late or none at all to vendors and suppliers.
Check to find out how the builder you are considering relates to their vendors and suppliers. Ask for a list of their construction partners to find out whether the builder makes payments on time or has a reputation for being late or delinquent on payments.
Our policy at Charleston Homes is one that keeps our partners happy while continuing to run a smooth building process for our clients. It’s a win-win situation for all and we’re happy to be able to stand behind our word.
What Do Past Clients Have to Say?
Nothing speaks louder than the words spoken by a past client. The experiences relayed by past clients are a direct reflection on the builder’s financial integrity. Does the builder respond to concerns in a timely and effective manner? Are there typically many delays in the process of building the home? Delays generally translate to unhappy or unpaid suppliers that are unwilling to continue working until payment is current.
The only delays we experience are those that are due to unforeseen weather circumstances. Other than that, a builder should never deviate from the schedule and all projects should be completed on time and on schedule as they are with Charleston Homes.
As we approach our five-year anniversary, at Charleston Homes we have had nothing but resounding success with our clients. We pride ourselves in offering the utmost transparency and openness and make sure that we provide our clients with a solid foundation – both literally and financially. We welcome you to contact any of our vendors, suppliers, partners or past and present clients to learn of their experience while working with us. Please contact me, Mike Freestone, Finance Director at Charleston Homes if you have any questions and I’d be happy to share our financial information with you. We are sure you’ll be pleased and look forward to serving your needs!
