https://www.youtube.com/watch?v=oSGW-GkUVaQ&list=WL&index=50

Summary:

Introduction: Over the past 14 years, the speaker has encountered numerous astonishing incidents in the home-building industry, with recent headlines being particularly shocking. The video aims to reveal some of the biggest lies told by home builders and provides advice for those wanting to build their own homes without hiring a builder.

Home Builder Deception Example: One outrageous story from 2020-2021 involved home builders canceling contracts. A couple, six months into the process with Coventry Homes, had already sold their current home, only to have their contract canceled as the development sold out, leaving new buyers on a waitlist. The reason for cancellation was to exploit rising home and building material prices, pushing the buyers to pay $100,000 more or walk away.

Protecting Yourself from Builder Contracts: Most home builders use contracts that heavily favor them, not signing state contracts that might protect buyers. Before hiring an attorney, it’s suggested to write a detailed, concise letter to the builder including all relevant details and documents, keeping a copy for yourself.

Misleading Upgrade Costs: Builders often lie about the costs of appliances and upgrades, claiming installation is included when it often isn't. Personal anecdotes reveal significant overpricing, such as a $6,500 tub that was available for much less elsewhere. It’s crucial to take photos of items before installation to avoid being blamed for damages caused by builders.

New Home Warranty Act: In states like Louisiana, new homes come with various warranties covering the foundation, structure, and internal items (like paint and fixtures) for specific durations. However, builders often fail to inform buyers about additional warranties on appliances and windows. Buyers should register these warranties to ensure coverage for several years.

Alarm Systems and Model Homes: Builders may pre-install alarm systems through deals with specific companies, but buyers should shop around for better prices. Model homes are often upgraded beyond what is available in the actual homes, leading to disappointments when certain features, like wall textures, are not included.

Recommendations for Home Buyers: To avoid pitfalls, it’s advised to hire a knowledgeable real estate agent or a real estate attorney to review contracts. Researching builders online and talking to previous clients can provide insight into their reliability. For those wanting to build their own homes, the video introduces a resourceful option.

Building Your Own Home: Mike Luckado, from Open Book Build, provides comprehensive resources for owner-builders. His company offers easy-to-build house plans, online courses, and detailed budget and schedule tools to assist in building homes efficiently. These resources allow significant cost savings compared to hiring traditional builders.

Cost Savings and Flexibility: Builders typically mark up home prices by around 33%, but Open Book Build offers plans and tools for under $1,000, leading to substantial savings. The plans are customizable and suitable for different foundations, including basements and slabs, and can be adjusted to meet local building codes and personal preferences.

Off-Grid and Custom Homes: The plans can be adapted for off-grid living with additions like solar panels and battery packs. They include sufficient power supply options to support future needs, like electric vehicle charging. These homes are built to standard specifications, making financing straightforward.

Conclusion: Building a new home can be more predictable and straightforward than renovating an existing one. The video encourages prospective home builders to use available resources to make the process easier and more cost-effective. Additional information and resources can be found on Open Book Build and Owner Builder Class websites.

Call to Action: Viewers are encouraged to ensure their land is properly prepped and permitted for building and to watch further videos on different types of home builds for more insights. The speaker, Kristina Smallhorn, emphasizes the importance of good real estate information.