If you can buy a section in your desired area (or nearby) in a residential area that already has water and power running to the front gate, for about $300,000â¦ then in the case of the example above, the buyer still has $370,000 left over to build the house.oday I was doing a leaky building test for a client looking to purchase a home in Albany on the North Shore. The house was $670,000 to buyâ¦ and the plaster system was making the buyer very nervous. This house was 180sqm.
Builders risk insurance covers more than just labor, materials and equipment that are needed for new construction project; it can cover profits as well. With The Hartford's builders risk coverage and heavy equipment insurance, contractors can be reimbursed for the pro rata percentage of profit earned as of the date of the loss â based on the profit assumptions included in the job estimate.
-- Ruthann. Dear Ruthann, Most builder warranties cover material and workmanship on a new home for one to two years, with coverage that lasts as long as 10 years on major structural elements. There's much to be wary of these days in the world of new-home warranties.