1. The Happiest Ending Begins with Listening
I start by listening to what you need and want. Do you want a brand new home or to create magnificence right where you are by adding on, or even tearing down and starting from the ground up?
Questions abound that I’m happy to answer.
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Are you happy in your current general area or are you looking for new North Shore views? Where? What town or city? What are your living space needs? Now? What about 5, 10, 20 years?
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What is your family lifestyle like on a daily, monthly, yearly basis? Are adults away from home a lot? Do you think that will change? How over time?
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Where do you work? Average week? Entertainment? Interests? Hobbies? Want a home theatre, lap pool, golf course in the basement? What about a driving range? Actually, we’ve constructed quite a few.
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What’s the level of quality you desire for materials from the kind of wood, or brick or stone to exquisite. This will affect cost, of course.
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What are your dreams for this home versus the current and projected financial realities? I realize this information is personal but “confidence” comes out of “confidentiality.” I never share information and will sign a non-disclosure agreement if you wish.
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Project timeline. Yours and mine.
2. I Give You a Fairly Broad Price Range
Based upon our discussions and your needs and wishes, I’ll give you a workable idea of a price range. As long as we’re in an agreeable ballpark, we can take the field. This is not a confirmed agreement.
3. Tom Len (Me) Makes a Recommendation
I go away and come back within two weeks with a recommendation based on what I’ve learned, your wishes, needs and your best move literally in terms of cost, value and timing.
4. We Get an Architect Involved (With No Fee Yet for Me)
Even if you agree with my recommendation, you’re still under no obligation to use my services. I will recommend an architect, however, who will draw up plans for you with my (free) consultation. I recommend an architect based upon the style of home you prefer. I know dozens of architects and those who are best suited to Nantucket style, versus Traditional Farmhouse versus Modern Farmhouse versus Tutor or Victorian and on and on. Look at the range of homes in the Tom Len Home Gallery to literally get a better picture of the kinds of styles and materials we can worth with. We are very versatile and adapt to visions easily.
My work with the architect is almost a necessity because architects can be visionary and slightly ambitious and sometimes naïve regarding how suggestions and drawings pan out. at the same time in terms of what visions actually cost.
5. A Real Estate Option in the Mix
One of the ways we bring your home dreams to life is the range of services we can offer you BEYOND construction. We are certified Realtors© so if you see a home or vacant property you’d like to purchase, we can start there and then begin our discussion of construction.
Our Due Diligence is critical and exceptionally thorough. If you’re buying an existing home that you want me to redo, remodel, or reconstruct, you can relax. I will personally inspect property to make sure there’s no problem that needs handling and if there is, follow though contacting the professional perfectly suited to correct it. I’ll oversee that work, as well and do that all in good faith (for free), too. Don’t worry, there is a proposed contract coming. It occurs after we apply for your permits.
6. Finally, It’s Time for Detailed Agreement
We won’t be writing a thesis, but Tom Len contracts are detailed enough to make the proposal clear beyond any question, handle issues before they become issues and provide an understanding of what happens first, next and if XY and Z occurs. Our agreements are situational guidance tools that address all questions and contingencies. The form you’ll sign is easy to understand and non-sleep inducing. They typically cover:
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Scope of work (including labor, materials, equipment required, etc.)
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Price and payments
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Timing (vitally important)
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Permits and licenses
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Insurance
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Changes in work orders
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Cancellation
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Arbitration
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And quite a bit more.
Tom Len Lends a Hand with Substantial Resources
We are there for you every step of the way with years of experience, vast resources and tricks of the construction trade that cut time, costs and inconvenience for you. FYI, we build dreams on more than beams, including a foundation of exceptional expertise.
7. Financing
Once people sign on the line the almost simultaneous step is handling financing. You can self-finance, though that’s usually difficult. Another avenue to pursue is to let us help.
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We work with different partners and banks. We can either offer a construction loan, which as you may know is a loan that pays out during the process. Then you refinance it at the end of construction.
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We also have strategic partnerships with banks that do construction loans that turn into permanent loans. This can be a great way to go. During construction, you pay interest only. Then it turns into the balance of the 30-year loan. The beauty is you lock in the rate from the beginning.
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If you wish to proceed independently using your own sources and resources, you are, of course, most welcome to do so.