Creating Your Home Building Contract – An Owner-Builder Negotiation

You are on you way to building your new home or, more accurately, having it built for you. You assembled your list of candidate builders and narrowed the field to just 3-5 builders by running your own background checks on them. You interviewed the remaining candidates, then selected the builder with whom you intend to work. Checking his references convinced you that he’s the general contractor you want to be in charge of building your new home.

Now it is time to enter into a contract with your builder.

Home Building Terms – Custom Builder and Tract Builder

Researching building a new home Before you start the home building process, familiarize yourself with home construction terms. Residential construction can be categorized into two groups, custom builders and tract builders. Other than building homes for people to live in, these two groups couldn’t be more different. Residential construction can be categorized into two groups, custom builders and tract builders. Other than building homes for people to live in, these two groups couldn’t be more different.