The Home-Building Process

Initial Meeting: After you contact us we will set up a time for a casual meeting so that you can get to know us and we can learn about your vision for your project. The location of your build and the budget that you would like to stay within are two of the most important things we will discuss during this initial meeting. Perhaps you already have some land that you want to build on? We can work with you on that. Or perhaps you are hoping to build in one of our current neighborhoods? That’s great, too. If you aren’t sure what you can afford it would be a great idea to speak with your loan officer before this meeting. We will be honest with you about the practicality of your vision within the parameters of your budget and the specifications of the lot.

Agreement Phase: If you decide that Midsouth Property Management is the right fit to work with you in making your home dreams come true then we will proceed to the agreement stage. You enter into an agreement to allow us to begin to work on a floor plan and get a specific bid for your new home. At this stage a $5,000 payment toward your home is required. At this stage you will receive a very rough estimate of the cost of your home based on what we all currently know about what you are hoping to build.

House Plans: We will work back and forth with the draftsman to come up with the perfect floor plan and elevations that will bring your dream to life as well as work on your piece of property and fit within your budget.

Contract Phase: Once the house plans and elevations are complete we will send the entire house out for bid to our subs. As soon as the numbers return we will draw up a contract that gives you the exact cost of your home as well as the allowances for certain items that you can select such as flooring and granite.

Loan processing: Banks require a contract to complete the process of getting the loan. We will have been working with the loan officer all through this process, but now that we have a signed contract we can move ahead. Typically MidSouth Property Management will be the one getting the building loan and you will sign your mortgage at closing when your new home is completed. There are options for the homeowner to get their own building loan. These are things that we will have been discussing all through the process.

Building starts! This is where things get exciting! At MidSouth Property Management we have amazing sub-contractors that we have used for years. In addition we will be on your job-site daily making sure that everything is done properly. We will be responsible for making sure that all inspections are done and we pride ourselves on building in a timely manner. Of course there are things that can cause delays such as weather or materials not arriving on time but we assure you that we do everything we can to keep your home going up in an efficient manner. Do be aware that changes to the plans and the contract during this time could add to the cost of the house. All change orders will be written up and signed.

Selecting materials: In order for your home to truly represent you and your vision there will be some items that you will need to select yourself. You will have a dollar allowance for each of these items. MidSouth Property Management will give you a list of items that you need to choose and the dates by which we will require that information as well as a list of our preferred vendors. Some clients love this process and have a very specific style, while others would like to have help. We have a decorator who has worked with MidSouth Property Management for years who is available to help you as your select your flooring and granite and paint colors.

Final Walk Through: Yay! Your home is almost complete. As we get to the end of the process we will walk together through your home and give you the chance to flag anything that you see that might need fixing or touching up.

Builder’s Warranty: Just because you have closed on your home doesn’t mean that you will never see us again. MidSouth Property Management gives our clients a one year builders warranty. You can always call us if there is an emergency, but for the everyday items you will keep a running list and we will come in and address those at the 6 month and 1 year marks. We will be around and we are known for being easy to get in touch with.