Project Scheduling: What Every Client Should Know

  • By Jeremy Thompson
  • 01 Feb, 2013
Project scheduling involves the challenging task of dividing the home building process into jobs. Each job should start at a certain point, with a projection of how long each job will take. The objective is to complete building the house in the quickest time possible, with as little money invested as possible. Certain jobs can […] The post Project Scheduling: What Every Client Should Know appeared first on J. Thompson Builders.
Project scheduling involves the challenging task of dividing the home building process into jobs. Each job should start at a certain point, with a projection of how long each job will take. The objective is to complete building the house in the quickest time possible, with as little money invested as possible. Certain jobs can run concurrently, but other jobs can’t start until others are completely finished. And what any client having a new home built quickly realizes is that construction is not a smooth process with absolute completion dates. Each project varies widely in its process, and variables like weather and changing contractor schedules affect the timeline.
The entire building process is usually completed within 5-7 months. The more customizations in a home, the longer it will likely take. The more detailed the house plan, the more time it will take to build the house.
A new home construction project will include:
  1. The home plan design
  2. Finalizing plans, estimates, signing contracts
  3. Applying for permits
  4. Site work, clearing the ground
  5. Establishing power to the site
  6. Foundation work
  7. Framing
  8. Roofing
  9. Installing windows and doors
  10. Siding
  11. Plumbing, electricity and HVAC
  12. Insulation
  13. Interior trim
  14. Flooring
  15. Cabinets and countertops
Important facts you should know about project scheduling…
  1. Expect your builder to provide a schedule outlining what phases of the home building project will be completed, and when the work will occur. Your builder will know the exact order things need to be accomplished and in what time frame it should happen. The builder should also outline what the client needs to accomplish, including any selections or decisions the client needs to make.
  2. Change orders alter the scope of the project. Your builder will work with you to alter the plan as necessary, in order to accomplish the preferred outcome. But know that any change will increase the cost as well as extend the time of the schedule. Contractors often have lead times of weeks, not days, and they may not be able to rearrange their schedules at the last minute.
  3. Remain flexible. Develop a construction schedule with your builder, but understand your plan must be flexible, and you must be willing to exercise patience when changes to the plan arise. Delays often happen whether it’s in receiving permits at a later than expected date which then pushes out the dates the contractors have agreed to, or delays may result when contractors have to change the schedule because of scheduling conflicts with other projects.

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By 7052540976 15 Nov, 2017
Some of these considerations may not be in the forefront of your mind, but there is a long list of aspects you need to consider when building a new home. These should help to get you started thinking about some of the most important pieces of the home building process.
By 7052540976 15 Oct, 2017
This home is being built with our client’s specific wants and needs in mind. The homeowner
requested a single family home with a modern contemporary house design. Previously, he lived
in a townhome and desired a more private, spacious residence. A main floor living with a large
space to entertain and big volume ceilings were a must on the client’s list.

The client decided building as opposed to finding a pre-existing home was a better solution for
him because he wants something specific to his needs. He already had the perfect location in
mind and it was time for him to own his dream home.

The area is ideal for this client because it allows him to live in close proximity to his hobbies and
interests and it also allows him the ability to walk to nearby restaurants or bike to the
surrounding shops. This homeowner will be close to everything. He truly loves the location!
The design concept picked is pictured below. In sticking with a contemporary influence, the
design has clean, simple lines that will result in an extraordinary modern home. We combined
elements of residential and commercial materials and design to bring our client’s unique requests to life.
By 7052540976 15 Sep, 2017

You decide that you are ready to build a custom home for you and your family. Now it is time to figure out how to finance your dreams!

Let’s start with the basics. As with any loan process, do your research. Talk to several mortgage companies that specialize or have a strong understanding/history of working with construction loans. Ask questions and voice your concerns. Companies of course want your business, but they also want to make sure they are a good fit for you and what you are wanting to accomplish. Reviews and referrals are strongly regarded these days. They want to make sure you have the best experience possible.

There are several main differences between a construction loan and a regular existing home loan. An individual construction loan may require a longer credit history  or a higher credit score as well as more money down and along the way. It is more of a process, but it is most certainly worth it. With the right builder, the more involved process becomes a piece of cake; but, that is an article for another time.

Home loans can have a 30 year term whereas a construction loan typically has a max of 1 year. “The rates on this type of loan are higher than rates on permanent mortgage loans. To gain approval, the lender will need to see a construction timetable, detailed plans and a realistic budget, sometimes called the “story” behind the loan,” as reported by  bankrate . While your home is being built, it is typical to make interest-only payments. 

If you are thinking, “I don’t have enough money to pay off a newly built home in 1 year!” Don’t panic.

A popular option is the construction-to- permanent financing sometimes called “one-time close,” a “single close,” or an "all-in-one" loan. Upon completion of construction, the remaining loan balance is converted into a permanent mortgage with terms up to 30 years. Like most loans, “the rate and other terms of the permanent mortgage are set up-front when the entire loan package is closed” according to the  National Association of Home Builders .  Construction/permanent loans are offered by many different lenders, including banks and mortgage companies and are a great option for those of us wanting to finance their home purchase over an extended period of time.

Another option is a stand-alone construction loan. This type of loan can be beneficial if you currently own your home and want a smaller down payment option.   Read more about stand alone construction loans.

There are many different loan options. What makes sense for one person doesn’t make sense for everyone. Make sure you find the right product for you and your particular project. If you want to talk over some options, contact us! We would love to hear your ideas and figure out how we can build your dream home.

View our work , read our reviews on Houzz.com , and visit our Facebook page to get inspired!
By Jeremy Thompson 01 Aug, 2017
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By Jeremy Thompson 15 Jun, 2017
We’ve offered you lots of advice over the years about building a custom home. Here is a condensed version of some of the most important tips to follow. Get on the fast track to planning your new custom home! 7 Tips for Building a Custom Home Pay attention to your subdivision covenants. Yes, these are […] The post Building a Custom Home: 7 Quick Tips appeared first on J. Thompson Builders.
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By Jeremy Thompson 15 May, 2017
Building a new home is an exciting time, filled with anticipation and satisfaction as you watch your vision come to life. However, it can also be a little overwhelming when you’re unfamiliar with some of the technical terms. To help remedy this we’ve defined a few of the custom home building terms you may hear […] The post 5 Key Terms to Understand in Custom Home Building appeared first on J. Thompson Builders.
By Jeremy Thompson 01 May, 2017
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