This is the most commonly asked question on the minds of those considering building a new home. Although it is extremely difficult for a General Contractor to assess the cost of an entire project in its conception stage, CMB Construction Management Company’s Design/Discovery process will help align your project within your goal budget.
In most cases, you will need to apply for a construction loan. Though CMB Construction Management Company can answer some questions regarding financing, we highly recommend that you speak to your financial institution regarding financing your project.
You must obtain Builders Risk Insurance and maintain it throughout the entire construction process. Once you receive the Certificate of Occupancy, your insurance company will convert this insurance into the homeowners insurance. Builders Risk insurance is a mandatory requirement for homeowners building a home. Contact your insurance carrier for more information.
Although we allow certain flexibility, it can slow the progress down during construction if homeowners are doing some work. CMB Construction Management Company is open to discuss flexibility in certain situations. Electrical, Plumbing, and HVAC work by homeowners, however, is prohibited during the construction process due to permitting requirements.
Yes, we build on privately owned properties as well as homeowner purchased lots. The Design/Discovery and building process between vacant land and city lots are vastly different. CMB Construction Management Company does not purchase real estate nor do they build spec homes. Land Assessments are available per appointment if you should have questions before purchasing your property.
The cost for new utilities on site varies from project to project. Your local utility companies can answer these questions based on a per foot price; however, you will know the actual cost closer to the time the utility company planner does a site inspection after the foundation walls are in.
The best time to construct a new home from beginning to end is between May 1st and November 1st. Construction can also be done in the winter; however, only if the foundation is completed before November 1st. The remainder of the project can continue throughout the winter months. Please keep in mind that after November 1st, winter conditions can add costs to the budget and add time to the schedule.
Length of time to construct a new home depends on the time of year the project starts and the size of the project. Typically, a project can take between 6 – 8 months and sometimes over a year if it is a larger home and is very customized. Weather, trade partners, suppliers and municipalities can affect the timing as well.
This depends on the homeowner’s involvement during the Design/Discovery phase of the process as well as the Financial phase. If the homeowners are actively working with CMB Construction Management Company to be at scheduled meetings, select their standards and upgrades, work with their bank and approve working plans, then it can take about 3 months for planning and 6 to 8 months for construction. Again, this depends on customization of project, size of project and homeowner decision making abilities.
This is a great question and goes into much detail. CMB Construction Management Company had the unique experience from 2012 to 2018 working for a modular dealer. We shortly discovered that building modular was very different than conventional building in the design and build phases. Furthermore, we experienced a lack of enthusiasm and engagement from the homeowners in their project due to long time frames while they were in the design and building process. Conventional building brings with it more involvement from the homeowners as they see their home being built step by step. Pricing was also more economical and purchasing materials and labor locally was much more manageable. Our Michigan economy is important to us and generating business with our local communities helps everyone including new homeowners. For more detailed comparisons between conventional and modular custom building, please give us a call.