Building a new home

[David]

Friend of my daughter sold their home in VA and was having a new one built.... builder just came back and stated they need 40k more to build due to lumber cost.
( and they can't put it in mortgage at this time ) NO cash available for them and they are now stuck in Mom/Dads home with 3 kids.

Yep, it's happening. Not sure what the lumber shortage all of a sudden entails, but it's yet another thing being placed on top of people. Our home has gone up nearly 100k since the time we signed the contract. I would think if you daughter's friend signed a contract for X amount that the builder is obligated to eat the price. The nearly 100k raise in price didn't affect us except for increasing our equity.

[tom mac]

Don't know the legal side of the story.... I would have locked it all in PRIOR to selling my house.
Do know they didn't have the 40k cash for extra cost of wood and the deal to build fell thru ( had land ) and now they are with Mom/Dad in a tiny house.

I do think a lot of this is a bit of bubble... tho right now houses on Long Island are in bidding wars with the sell price going 30-40k over asking
People leaving NY city.

[aerynsun]

Windows, roofing paper and side paper are installed. Also the front door, bedroom door going to the lanai and door leading to the garage. Sliding glass door frame is in and the doors have been delivered.



They are currently installing the HVAC which should be done Friday or Saturday.

We just ordered the kitchen yesterday and my wife is really excited about that

What extra security items are you adding? Are you putting in steel door frames for example?

[David]

Frames are all steel. The whole house will be alarmed. Back up generator. Strike Plate rings on the doors.

[David]

Nothing happened for about 2 1/2 weeks due to shortages on some materials. Back rolling again though. The shingles on the roof will be done today. The electric should be roughed in by next week then we get the expanding foam and pest tubes in the walls completed. Then insulation on the upstairs walls. Then pre-drywall inspection then drywall. I'm expecting that within the next 2-3 weeks.

The closing date looks like it will be pushed back into August. Not totally unexpected.

[David]

Roof is done. Hopefully this coming week will have a lot of progress made.

[Bmyers]

Getting closer and closer to being finished

[David]

The roughing in of the electric should be completed today. Pre-drywall inspection should be soon.

[Bmyers]

So once the inspection is done, then the drywall should go up fast for you and it will look like a house.

[David]

So once the inspection is done, then the drywall should go up fast for you and it will look like a house.

Yes. They still have to do the pest tubes in the walls before drywall. There is also a pre-drywall inspection. Actually two inspections, the county will inspect but we have hired a private inspector for pre-drywall as well as just before closing. But after that, yep, the drywall and then they can paint and do the outside.

On our road, which comprises only 24 houses, there are only two builders. David Weekly and Homes by Westbay. We are Westbay. The way they do it is three lots are Weekly then the next three are Westbay and so forth. So we have a Weekly to our right that is already complete with neighbors moved in. To our left there are two lots that are Westbay like us. These two houses have almost the exact same floor plan that we do. However, the elevation (how it looks on the front) is different for each house. From the street you'd never know they are the same basic house. The house immediately to our left started about a month before us. We were caught up to it until about two weeks ago when they surged ahead again. They are drywalled and painted on the inside and the outside walls are stuccoed (or whatever they call it) and awaiting paint.

So I would 'think' that in the next couple of weeks we'll be at that stage as well. We'll see. Talking with our builder it does not look like we're going to meet that July 20 close date. Probably sometime in August is much more likely but we don't know when. That is not unexpected with all that is going on in the world. And we're fine with it. Yeah, it will be nice when the move is completely done, but we're fine with it and will just be patient.