Wednesday, March 23, 2011

Tip #6 – If the house isn’t built right, don’t buy it.

These are stern words I know, but if your currently building a Ryan Home, then you’ve likely already run the Google search ‘Ryan Home Reviews.’  From this you’ll get a perspective on the very best Ryan has to offer, and the very worst.  If you’re buying a new home you’ve probably already looked at the true cost of your new mortgage.  By excluding items such as taxes, insurance, and HOA fees, you can use simple math to see the size of your investment.  This is a basic example for a 30 year loan:

Your proposed monthly payment x 360 + cash you bring to the table = Approximate cost of the loan

Example:         $2,250 x 360 = $810,000 + $25,000 = $835,000

So once the finance company get their cut, you’re total cost is much more than your purchase price of $350,000.

Compromising on quality seems very precarious to me.  Be realistic, be objective, and be fair with your home builder during the build process.  But also keep in mind that not all home building experiences are gems, and the size of your investment is great.  So since this is one of the larger investments you’ll make, treat it as such.  Expect quality, craftsmanship, accuracy, and honesty throughout the whole process.  If your expectations are not met, or the house isn't right, don’t buy it. 


  1. Fully agree...take each opportunity for inspection to look at everything in great detail and if something doesn't look right, call them out on it!!! You are absolutely right...this is a huge investment and it should be done exactly as you want it...regardless!!!

  2. Agree. If there is a problem, the builder should go out of their way to resolve it. However, if you can't come to an agreement, people have already put down a large sum of good faith money to get the house started and not everyone may be comfortable walking away from that.

  3. I would walk away rather than close. Because once you sign those papers your stuck. Then try selling it, you'll end up losing money anyway.

  4. Shara - You hit the nail on the head. The fear of losing your deposit has pushed more folks into bad situations, then anything else.

    "It's not personal, it's business." That's how Ryan views this, and so do I. Losing your deposit is part of the gamble you take when building a house. But I only speak for myself.

  5. Great advice! Just found your blog and look forward to following your progress. We closed on our Zachary model in Waldorf, MD in December! Blog updates are of our decorating experiences now. The fun never ends.