Custom Home FAQs
Do I need a REALTOR to build or buy a Wolfe Home?
This is a personal decision. Wolfe Homes believes that realtors can provide valuable services during the home building or buying process. Wolfe Homes enjoys outstanding relationships with leading real estate brokers in the Triad area.
We do not yet own a lot but we know we want to build a custom home. Can you help us locate a lot?
Locating land inside the greater Greensboro area is becoming more difficult. Whether you are interested in one of the premier residential communities, or looking for available scattered lots inside and outside of the city, Wolfe Homes or your realtor can assist with lot availability and feasibility questions.
We own our own lot. Can Wolfe Homes build on it?
Yes. Wolfe Homes has tailored our services to take one of our plans, or your plan, and build on your lot. Additionally, we work with you to make any design changes that will enhance the enjoyment of your home. The lot size will be a consideration in determining which design is right for you. We can also design – from scratch – a custom home to suit your needs and chosen lot.
How do we obtain financing to build our home on our lot?
A custom home that is built on a lot you own, is financed through a construction loan. We can arrange for you to meet with one of our suggested lenders to begin the process. Or, you can make arrangements with your own financial representative. Part of the construction loan package is an agreement by the lender to pay Wolfe Homes on a scheduled basis as work progresses on your home. Wolfe Homes will review this agreement prior to starting construction on your home. Wolfe Homes will call the lender each time one of the scheduled work completion dates is made. Your lender will send an inspector to the site to verify that the work is complete, and will then pay Wolfe Homes for the completed work.
We have a home which we love, but it is outdated. How can Wolfe Homes help us?
Our remodeling division will be glad to sit down with you and discuss the enhancements you would like to make to your home. We will coordinate architectural drawings. Once changes are approved, we will present you with a proposal enumerating costs. When you give us the go-ahead, we start the work on making your existing home the home of your dreams.
How do we get started with designing the custom home of our dreams?
Wolfe Homes works with a number of residential architects in the Triad area. We will be glad to suggest one who will best meet your needs. We’ll meet with you and the architect to develop design and budget criteria. Wolfe Homes monitors the development of the custom design to make sure all design and budget criteria are met. If small changes are being made to an existing plan, their cost will be included within the cost of the construction contract. If the design is from scratch, then we use a separate design agreement between Wolfe Homes and you as the client. This design is then yours, for your use in contracting the home.
Certain aspects of our future custom home are more important than others. How can we make sure that our needs are met?
At Wolfe Homes, the design development phase can vary anywhere from one to several months. During this time, numerous meetings are held between the architect, interior designer (if one is involved), and the Wolfe Homes sales team. We focus on those areas of design and budget development that are most important to you. For example, if extensive design and quotation work are required to develop your comfort with the kitchen/appliance design, then time and the necessary coordination will be given to this area of your need. Wolfe Homes makes extensive use of pre-selections and quotations to establish your trust and comfort level in the many components which make up your home.
Why do “options” cost so much more than at a home improvement store?
You may well find that certain options, fixtures or materials, are cheaper at one of the home improvement discount stores. Few vendors order enough parts from a manufacturer to receive the pricing break of a national chain. But keep in mind that those prices do not necessarily include all the items necessary for installation of that particular fixture or component. Additionally, they do not include the builder’s risk, administrative tasks, scheduling, insurance, coordination with other trades, damage done by other trades, delivery of the fixture or material, etc.
Is the traditional cost-per-foot comparison method suitable as a means of budgeting for my new home?
No. First, care must be taken to insure that the heated or finished square footage has been calculated using the same standards as used by real estate appraisers. Second, depending on the home builder, the type of materials used, subcontractors as well as the given allowances and lot cost, the cost-per-foot could reflect numbers that look great on paper, but are not realistic. Third, no two home builders construct a home exactly the same. These differences in operation and construction are not always reflected in the cost-per-foot comparison.
Are there different types of contracts which are more suitable than others?
Yes. Certain types of contracts are more suitable than others, depending on who owns the lot or will provide the financing. Also, some contracts provide more flexibility for changes and construction time than others. The type of contract that will be the best match for you as our client depends on your needs as they are discussed with the Wolfe Homes sales team.
How and when do I make final selections for the components and finishes which become part of my home?
Wolfe Homes has developed a schedule for client selections, which is tied to certain stages or milestones of the actual construction schedule for your home. This way, your efforts are maximized in evaluating and selecting the best components for your home, and seamlessly integrating them into the construction of your home. Wolfe Homes makes extensive use of the numerous showrooms, samples and catalogs provided by manufacturers and their vendors who are a part of our team.
What happens if I want to make changes during the course of construction?
One of the purposes for a standard schedule of client selections is to anticipate and provide an opportunity for client review and changes. This minimizes the potential impact of delays as a result of any last-minute changes. Of course, changes can take place anytime, but their cost can be minimized by up front preparation. Depending on your type of contract, Wolfe Homes may require payment before changes are made. At any rate, whether changes are pre-paid or paid by monthly progress payments by your lender, Wolfe Homes will provide and review our change clause in your particular contract before execution.
How can I monitor the progress of construction on our custom home?
Your Project Manager will keep you informed through regularly scheduled selection and progress meetings. These meetings are an effective means to keep you informed throughout the construction process. Whether the meetings take place at our office, a vendor’s showroom, or at your construction site, we at Wolfe Homes recognize the importance of your participation to achieving total customer satisfaction.
How does Wolfe Homes turn over a home to their client?
Prior to the completion of your new home, Wolfe Homes will provide you with a 60-day commitment letter, which notifies you of the planned date of home delivery. Depending on the complexity of your project, two to three weeks before this delivery date, your Project Manager will arrange a progress meeting where an orientation and demonstration of your home will take place. Wolfe Homes provides and opportunity for their clients to generate a Homeowner Walkthrough Inspection List, which we will then use to prepare your home for final delivery.
What happens at contract settlement, and what are my responsibilities?
As per our 60-day commitment letter, we will notify you to contact all utility companies prior to your occupancy, to have service transferred to your name as of the date of your delivery and settlement. The names and telephone numbers of the appropriate companies will be provided to you along with your commitment letter. You will also need to contact your lender for any last minute requirements. It will be necessary for you to purchase liability insurance on the property, with your lender listed as the beneficiary on the policy. Your lender will provide the specific information needed to satisfy this condition.