Buyers shocked by $99,000 'surcharge' added to their homebuilding contract
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- เผยแพร่เมื่อ 5 ก.ค. 2024
- A Dallas couple - expecting their first child in three months and expecting their first home together to be constructed shortly after that - are now among the North Texas residents reeling from sticker shock as the price of that home has suddenly and drastically increased. READ MORE: www.khou.com/article/news/loc...
PEOPLE have lost their minds!!!!!!!!!!!!NO WAY in hell would I pay 100K over a contract or asking price. People just sit back and wait. It's not that crucial!!!!!!!!!!!!
I refuse to buy. Not doing it. Y’all crazy out here
Builder should abide to the contract price. If not, what good is a contract.
@@skrewedupb7698 it isn’t the wages that increased, it’s the cost of product.
Do you think a contractor that has a build contract for 300 grand and product goes on sale and it ends up totalling 280, do you think he gives back those savings to the buyer?
Your an idiot
@@Ratlife724 *you’re
When materials go up over 400 percent do you expect the builder to take a loss! Get real he has no control
Read the fine print,
They charging an extra 100 thousand for 4000 more they had to spend on lumber
Clearly you haven't been to a lumber yard lately it has a 280% markup due to the high demand and supply shortage in building supplies. Inch and an eighth tongue and groove subflooring sheet of plywood is $123.00.
That’s what happens when a lot of people move to one place in a short time Thanks Californians
As a descendant of one of the original settlers of texas: texas is a dump. It always has been, and it always will be.
Don’t blame California. You know: Californians don’t give a shit about texas. They never talk shit about texas. Isn’t is pathetic, how texans are so petty, and jealous, that instead of fixing our shitty state, they just deflect, and blame others.
It also has to do with building materials costing way more now.
Same in Az.
@@philoctetes_wordsworth California was settled by Texans as well. So STFU
@@philoctetes_wordsworth all that crap you spewed out is about yourself and california, not Texas. I've been to cali and the dump you're describing is definitely cali. People are leaving that high cost of living, over populated, liberal ran ,earthquake having, trash heap by the droves. And some of the most sensitive, deflective people I've met are from - california .You're just upset cause you can't bring your politics here to Texas. Dude ,bye !!!😧
That is illegal if they were under contract.
Not if there is a clause starting that there could be a surcharge if material costs go up.
@@bobroberts2371 Very standard on most construction contracts.
The cost of lumber is clearly gone up 280% and that will be affect in their certain contract is nothing nefarious nor illegal going on here.
Seen news reports that since pandemic and some or many doing home repairs or changes that supplies are running out cause if stuck home they try do changes since got time to do it now if any. so almost anywhere supply is limited so cost goes up anytime i guess.
You think the builder is going to eat the additional cost of material? lol
You need both parties to sign off on the new contract, you cant jack the price up halfway through the project get a lawyer. If they can do this to you with houses think about your car payment, your car all of a sudden is going to go up 10k just because and you have no say?
💯💯
Unfortunately there is nothing that can be done here because I am pretty sure the contact had an option for the builder to raise the price, which is a very small print probably
@@luxyvip Its in most new build contracts. Its rare that it is enforced but they make sure to cover their butts in case things like this happen.
That’s the day I’ll learn how to build my own dam house
It's quite simple, the issue is all that money is for material price increases nobody's making any money but the big lumber companies
It took me two years, 2019 and 2020, to build mine myself. I hired two buddies that are carpenters to help. I was able to build a 1780 sq ft house for $110k
You see that bubble getting bigger and bigger and then..POP!!!
Just wait and see
@@D73GT The housing market is a bubble propped up by the money printer
Wait a minute. Increased costs get passed down to the customer? I would have never thought.
Prices on lumber went soaring through the roof, terrible timing to buy a house tbh they should have done their research
🤣 🤣 🤣 ill drop that contract so damn fast
Lumber went up in price!
Not by that much though. Maybe $10,000 more but geez!
Some people are not Patient now is not the time to buy that house will go down eventually
And when lumber goes back down, which it will, you'll be stuck with a house that that you will owe at least $100k more than what it's worth. Just because lumber prices are high at the moment doesn't mean the house is going to be worth more in the end.
Hold the builder to the contract.
I blame realtors in Texas who have TH-cam channels telling Californians to come to Texas...u get bang for buck...while saying screw Texas residents.....those realtors knew what they were doing. Real estate was in a slump....realtors were like let me see if.......of course there’s more contributing factors, hell....I was watching those videos and I’m from Ohio. And I wanted to move to Texas this year.....changed my mind this year..
Those same people will be running back to Cali in less than 5 years. Just sit back and watch.
Its called inflation
I’m going through this right now here in Texas 🤦🏾♂️🤦🏾♂️
Who is your builder?
@@bizzyfit2128 it was Centex but I had to let the deal go and now we are back to square 1. Think we are just going to try agin next year. This House Market is the worst. First time home buyer
@@soldier4life1999 Good luck sir
In my neck of the woods, we don't need speculators or carpetbaggers. We saw lumber, and sell direct to customers. Land is assessed at $750 an acre, and lumber is 80 cents to a dollar a board foot.
Considering the real estate market in my geographical area that basically is a freebie!!! I absolutely marvel and admire 750 an acre.
Good for ya'll
Lumber has skyrocketed. Price would have builders building houses for free. No profit left.
That's correct, and they're OBLIGATED to do it.... They'll make up for it in their next contracts... It's literally how business works, moron.
@@starmc26 That's my line of thinking. These buyers have been under contract for 6 months. Pass the expense on to future customers (which is what I thought builders were doing).
Tens of thousands more for an existing house beats the hell out of the $100,000+...
Houses have been that much for years yall rich people will buy swamp land and build a small house that cost half a mil on it an cry because it floods smh
well lumber prices have skyrocketed, it's no different then having to pay more for gasoline. The builders don't own a lumber yard, they buy it as needed.
All comes down to if that was in the contract. If it isnt then theyre just gonna get sued.
But these are free to the oppressed....
This is when WE need OUR Mexican & Central American brothers to step in & change the game 💗👏🏽
The issue is lumber prices, not labor. Still, it shouldn’t be a $99k extra!
Who cares...these homes are out of my price range anyway.
How can people afford to buy a house at those prices 😕
The average increase in lumber prices is costing the builders over $40,000. Copper is also more expensive. All building materials are much higher than anyone anticipated. Someone needs to do an investigative story on why there are train loads of lumber from Canada that are stuck in transit to the US. The "shortage" is fake. the price gouging is very real.
Plywood is at least 75 dollars a sheet right now
Greed
It's a tight race because companies are buying the property as retirement investments, not actual persons looking to buy the home to live in. It's artificially inflating the market for real home buyers and forcing them out of the market. This creates housing insecurity, and is compounded by most Americans not being paid a true living wage. This should have been regulated after the last housing market crash.
People due not understand that contractors don't eat the cost we pass it on and put a Mark up on it
From the looks of it. Most of the lumber was already installed. 150 sheets of sheathing should not cost an additional 99k.
Have to give credit to the ding dong buyers who just have to buy that house right now.
Why?? It's GOOGLE
The terms of a contract, remains with in the 4 corners of the page........sorry!
Greed is on a all time high...if it ain't a surcharge on chicken wings🙃, it's one on lumber.
I sell steel for a living…. PRCE IN EFFECT AT TIME OF SHIPMENT. CYA.
Hi Khoi I’m a kid I love your Chan el
Don't say that anywhere on the internet if you're actually a kid
Squatters market right now!
I absolutely giggle that $590,000 for a four bedroom house with that much square footage would even be considered a problem. Literally every person that sold real estate in California has that in cash.
Cost of living is much different lol salaries as well
@@98slime86 You see my only requirement when I moved was high speed internet connection I certainly love working from my house.
Best part of all is some of that all the cash price could be written off on taxes since I currently meet all requirements to do so.
@@captng did you move here to Houston?
Cali is cray no cap
Should have stayed B1. The others ice is not colder.
Thanks for adding the other thousand to making a whopping 100,000....99,000 is clearly no prob.lmfao
Is that legal?
You are not correct.
@@danhenry8557 I didn't give a statement. I asked a question. Smh
Welcome too sleepy joes America😂😂😂😂😂
I have a really nice house for sale for 150k in Willis Tx if anyone is interested, it’s off market we’re wanting a cash buyer
I’ll pay 250k. I’ll waive inspection too. I’m not going a cent lower.
@@TRAZ4004 No, I would like to look at it, but I would be interested in paying $300k. That's a good place to live. When can I look at it?
And the biding war begins😬
@@fredgalloway5809 Are you gonna try to get into the Offer-Phase? I just sold some stock and I'm from New York. I made quite a lot, so I wouldn't mind investing in some houses in Texas. I'm planning to move there soon anyway.
@@PoeLemic I don’t need to see it or even live in it. 350k is my final offer.
The family can sue the builder, the price is in the contract. The builder is going to have to pay that extra cost. In the future the builder will have to put the extra cost of lumber in the contract.
Lmao cheapass builders
And I started a fire wasn't it good Norwegian wood. Oops Joe Biden wood!
Oops trump draft dodging coward wood and yes I served my country and didn't run like a little b!tch.
Russia is calling you back home Comrad.
Don’t you just love Capitalism lol
Blame Joe Biden