beowulf
Veteran Member
- Joined
- Dec 31, 2003
- Messages
- 1,174
- Location
- Central California Foothills
- Tractor
- Kubota L3410 HST, J Deere riding mower
Sad day here today. After signing a contract to build a second house on our 90 acre property (about $265,000 for the building only - we have to do the well, pads, septic and more) we waited for six months for the permit to be issued. Well, it was approved this week but the builder now says due to price increases it will cost us $47,000 more. My daughter and SIL (it will be their home) don't have and don't want to pay that. The conract was signed in November '21 and has no escalation clauses entitling the builder to increase the price. I know I can sue to enforce the agreement (the builder said we what we signed is not a final binding agreement but from where I sit that is BS) but suing is acually not all together a satisfactory course to resolve issues - and would take a long time - during which we could not all get along with our otherwise peaceful lives.
I am not unsympathetic to the builder - I know prices have gone crazy. The builder says they cannot afford to subsidize the new price increases. They want us to go forward but we have to agree to pay the additional $47k. Or, if we back out, they will refund our deposit ($13,000 less the $1800 permit fee they paid to the county). We have already invested a lot in a well, pump, pad, roads, tanks and more.
I am working through this now and considering: building a smaller house where they would live and then they could take over our house when we are gone and rent the smaller house (renting the main house is not an option - barn, tools, corals, animals and much more). We are 78 and 70 and so at some point would need to leave or downsize anyway. Or offering to pay $25,000 of the $47,000 they are asking for - thus helping them out a bit. Or, using the approved plans and permit and building it ourselves - though I am not certain we could save much doing that even with the general contractor's markup - they have suppliers and sources for materials we don't have. Anyway, still thinking of ways to manage this.
I guess I am not looking for advice. . .just venting a bit. The hardest part of this - it really hurts to see the daughter hit with this disappointment - this would be her first and possibly her forever home.
I am not unsympathetic to the builder - I know prices have gone crazy. The builder says they cannot afford to subsidize the new price increases. They want us to go forward but we have to agree to pay the additional $47k. Or, if we back out, they will refund our deposit ($13,000 less the $1800 permit fee they paid to the county). We have already invested a lot in a well, pump, pad, roads, tanks and more.
I am working through this now and considering: building a smaller house where they would live and then they could take over our house when we are gone and rent the smaller house (renting the main house is not an option - barn, tools, corals, animals and much more). We are 78 and 70 and so at some point would need to leave or downsize anyway. Or offering to pay $25,000 of the $47,000 they are asking for - thus helping them out a bit. Or, using the approved plans and permit and building it ourselves - though I am not certain we could save much doing that even with the general contractor's markup - they have suppliers and sources for materials we don't have. Anyway, still thinking of ways to manage this.
I guess I am not looking for advice. . .just venting a bit. The hardest part of this - it really hurts to see the daughter hit with this disappointment - this would be her first and possibly her forever home.