Questions You Asked!

FINANCING:

Q. How do I know if I am qualified from a financial standpoint?
A. If you have good credit, we have had 100% success rate in providing construction financing for our Owner-Builder Lite clients. Call to schedule an appointment with our financial manager (936)321.2701

Q. Do I have to own my land free and clear in order to qualify for the Owner-Builder Lite program?
A. No. If you still owe money on your land it is rolled into the construction loan at closing

Q. How do I get qualified?
A Simply fill out a pre-qualification form with our mortgage company (http://www.builderspriority.com/appkit.pdf)

Q. Who pays the bills?
A. You do! You have complete control over the money.

COST:

Q. Why should a person build their own home instead of getting a contractor to do it?
A. There are several reasons as to why they should build your own home. The most important is the amount of money you can save. By using an Owner - Builder Lite program, a homeowner can easily save 15 to 25% on the builder fee alone! We can also show you buying strategies to save money at national chains like Home Depot.

Q. How much does a new home cost?
A. The total cost to complete your new home is based on many factors that are specific to your particular project. As an owner-builder you can control many of the factors that determine the total cost.

Q. How much money can I save acting as an Owner-Builder?
A. It depends on many factors. Every construction project is different so there is no predetermined dollar value to your savings. However, the savings that we pass on to you because of our buying power should save you at least 15-25%

Q. Where do the savings come from?
A. The first amount you will save is off the builders' fee, which can range from 15-25%. The second way is by paying for exactly what you get. You will not have to pay for additional markups which the builder may include on labor and material. The third way you save is by making changes and upgrades at cost, the normal custom builder's upcharge is avoided.

Q. Can I get "contractor prices" on building materials?
A. The short answer is Yes. The more complex answer is that there is no fixed discount called "contractor pricing." If you buy a trainload of material you could expect a better discount than if you are buying a small amount. Most small contractors build one or two homes a year and for most purposes you will be treated in that same category by vendors and subcontractors. One of the benefits of working with the Owner-Builder Lite program is that some suppliers will treat you as a large volume custom builder, thereby offering bigger discounts.

GETTING STARTED:

Q. Where do I begin?
A. One of the first steps is to speak with one of our program coordinators at (936)273-5650 or (936)321-2552 to get educated on the Owner-Builder Lite program. Next is to get pre-approved for your one-time close

Q. I have never built a home can I still qualify?
A. Yes, most of our customers have never built before. Owner-Builder LITE will be there every step of the way to make sure that your project is a success.

Q. How do I write a contract with a sub-contractor?
A. The owner-builder must be especially careful when signing contracts with sub-contractors. You must be sure that you are being protected. You can have your attorney write your contracts or you can use the one that we supply. Our package also includes useful worksheets that help you plan and build your home.

Q. How long will it take to build the home?
A. The average Owner-Builder completes their home in about 6 - 8 months. However, our lender provides a twelve month construction loan.

Q. Can I purchase materials locally?
A. Yes, you can build a stick frame, Insulated Concrete Forms (ICF), panelized, SIP or log home.

Q. Do I have to use your suppliers?
A. No, you can use any suppliers you want. We encourage you to shop around for the best deals both locally and via the internet for everything from lumber to bathroom fixtures. A little effort on your part can save you a substantial amount of extra money. You are also free to use any one of the many alternative building suppliers available – such as panelized homes, concrete form construction, log homes, or any number of other choices.

MISCELLANEOUS:

Q. How many home plans does Owner-Builder Lite have available to purchase?
A. We have access to thousands of home plans, but the majority of ourclients work with local designers to custom design their home.

Q. Do I have to use your home plans?
No , you can use any home plan you wish. It just needs to be a professionally done plan ( no sketches on the back of a napkin). This is your chance to build the exact home of your dreams. Don’t allow yourself to be limited.

Q. Am I limited to building on certain lots?
A. No, you are not limited through owner-builder Lite, however you must be sure that you can build on the lot you choose. The best place to start for answers to questions about your lot is your local building department.

Q. What about your fees?
A. We charge a fee for our service. It’s by far the lowest in the industry. And we allow you the most flexibility in the industry to build exactly what you want to build. We even give you the names and web addresses of our competitors. Why? Because we’re not afraid to have you compare our services, our flexibility and our fees. When you do, we are certain that you will agree with us that we are your best choice for making your home-building dream a reality. Dare to compare.

Texas