- Hey guys, Sarah Karakaian from Nestrs here.
In this episode I interview two home builders.
They've been in the business for 30 years.
If you've ever considered building a new home
versus buying an older home,
you're not gonna wanna miss this episode.
I ask some pretty cool questions
and they give us great honest answers.
Let's get to it.
(upbeat, rhythmic music)
On today's show, James and Julie Yeager
of James Yeager Homebuilders
and their tagline is, built right from the ground up.
James Yeager Homebuilders
is a premier custom home building company,
family-owned and operated for, I think over 29 years.
James Yeager Homebuilders has made a name
that is synonymous with quality, affordability,
and customer satisfaction.
Their mission is to share their passion about what they do
while listening to each of their customers wants and needs
and to build their dream home within their budget.
That's why they want to remain small
and involved in their work,
to give homeowners a personalized,
hands-on building experience
and a home they will love to live in.
So welcome to the show, Jim and Julie,
I'm so excited to have you here.
- [Jim] Yeah, thank you very much
for letting us be part of your YouTube channel.
- [Sarah] Yeah, we are so excited.
So real quick, Nick, the other side of Nestrs,
he worked for you back in the day, right, as a drywaller?
That's how you guys got connected?
- [Jim] Yeah, we feel so lucky.
We met Nick, I think, more than 15 years ago,
hanging drywall.
That's a long story, but
he's become such just success
since his drywall days. (chuckles)
- [Sarah] Yes, he's one dedicated man to growing.
But I know he looks back on those days working with you
very fondly, because he learned so much
even just from hanging the drywall
but having one ear on all the things
that you were saying to your team. (Jim chuckles)
He talks about that all the time.
So, anyway,
it just goes to show the kind of quality
business owner you are
and I just wanna let the audience know that
we've got a good team here to learn from.
So I wanna talk to you today about
building your home
as opposed to buying a home that's already built.
Now I know for people who are my age, and I'm 35 right now,
a lot of people are just now having
either the interest or the money to buy a home.
And often we go online and we look at homes
that are available for sale.
And sometimes the first listings
are actually just plots of land.
And I have no idea what it would take
to build a home for myself.
So I was hoping you guys could help us understand
what that's like.
So talk about first, why you got into home building
and then maybe talk about that option of buying and building
versus buying something that already exists.
- [Jim] For Julie and I, more me than Julie,
I had always dreamed of owning a brand new house
that had straight, level surfaces and plumb walls
and things that were--
- [Julie] Dry basement!
- [Jim] A dry basement was a big thing for me.
I grew up in the inner city
and when it rained we had little rivers
that came through the house.
So anyway, for me I always wanted brand new.
I did remodel my mom's house starting at 14.
Took apart her kitchen,
and then at 15 took apart her shower.
So Julie and I started our business
when we were in our 20's, late 20's.
And the big trick to this is getting the right lot.
And sometimes people don't.
They just go out and buy a lot because of a low price.
There's a lot of pitfalls to that.
So the first step there
is to make sure you get at least a wise family member
or meet with a builder, someone to walk that lot with you,
to make sure that you're not putting yourself
into some of situation you're unaware of.
And it could even be
something outside of normal imaginations, like
a new airport coming to the area
that you have not been made aware of
and you might have a noise problem that you're not seeing.
Or possibly a noise situation
you're not hearing on that day,
like a railroad that's a quarter mile away.
So Julie always--
- [Julie] Yeah, I always say if you're considering a lot,
have a picnic lunch.
Go out there at different times of the day
and just hang out, not just for a few minutes in your car,
actually get out, walk.
If it's available to have a picnic lunch on there, do so,
so that you're there for a while
'cause as Jim says, "Trains, planes, automobiles,
"all that stuff can play in a factor."
A sewer.
- [Jim] Sewer plant.
- [Julie] A facility right next to you.
Unless you're out of your car and you're there,
if the wind changes direction, you're going, "Oh!"
So all these--
- [Sarah] You already said some great pros
to building your own home,
which would be making sure the basement's dry,
making sure everything's level and plumb
which you may not get if you buy something that's older.
So then I have to ask you, is getting a new home built
a viable option for someone who isn't independently wealthy?
- [Jim] Buying a brand new home, for a young buyer,
is definitely an option.
Today, you're gonna find that most of the people
that can provide that at a reasonable cost
are your larger production builders.
Some of these builders build thousands
or even hundreds of thousands of homes a year,
while sometimes it might be worth buying a fixer-upper
or a starter house,
living in that and becoming familiar
with what home ownership is all about.
And that is the first time surprises,
things that you're not used to knowing
that maybe your landlord or your parents
took care of in the past.
And now the only person that can take care of things are you
or you're gonna have to hire someone to do that.
And that's a good way to get into what ownership is about.
And by doing that
hopefully you'd be able to put some money aside
and start making savings and put on account
to be able to buy the lot, pay off the lot,
and then even go a step further and put enough money aside
that when you do decide to build a house,
you build a high-quality home
with possibly better components and better,
maybe with a smaller builder,
where he can put more attention into the detail
and into the long-standing of the home.
- [Sarah] Gotcha.
So it sounds like you have a few options.
You can go to a bigger production home builder
or you can live in a home that already exists,
get to know what it's like to be a homeowner,
get to know what you like about a home,
the flow, the design, the options,
so that when you can save your money,
you're ready for someone like you
to build them a custom home
that has a lot of quality and craftsmanship.
- [Jim] What will serve you the best
for the money you can afford?
So in an ideal world,
let's say you have a duel-income family
and time is not necessarily somethin' they have a lot of.
We, of course,
would always recommend building a brand new home.
So you have a choice to build with a production company
that has many models to pick from
and possibly plenty of acres to build that on.
But they're gonna be limited somewhat
in customizing that house to your every wish,
or maybe your every layout and floor plan.
Building a custom home, on the other hand,
can be a longer process.
And again it's gonna require a little bit more money.
Instead of livin' there six or seven years
like most people do, you might live there 20 years.
And that'll go by very quickly.
And as that does, you'll have 20 years
of less headaches and replacements and hassles
than your friends that maybe fixed up an older home
for those 20 years.
- [Sarah] If some were to build a new home,
what is the timeframe, usually,
before they'll start to see any problems?
- [Julie] Well, where we are,
I would say five to seven years.
- [Jim] As a homeowner,
of someone that lives in the houses I've built,
that means that about five to seven years, hopefully
you're going to remember me saying
that there's some caulking
around the roof areas of the house
that probably needs to be at least looked at,
checked out and made sure that it's still nice and soft
and not cracked or broken.
There's some flashing you should take notice of.
If there's brick and stone or stucco
or any kind of masonry products,
they should be checked
to make sure they're pointed and kept up.
We are really against exterior paint.
By the way,
most of the things that we're thinkin' about are exterior.
But if you can build a house that's,
as the Germans would laugh and call plastic,
they think that we build plastic houses.
We call 'em vinyl.
- [Sarah] Right.
- [Jim] And we have this artificial stone
and these kinds of things.
If you can build a house, and with our brick veneer,
I forgot, our brick is not bearing brick, but it's veneered.
But if you can build a house like that
and realize that those surfaces will need to be cared for,
but more than likely
at the five or six year or eight year mark,
you'll have a great time in your new home.
But if you build a home
that has all the cheapest possible components,
you're time might be four or five years.
And if you buy a home that has a lot of paint on it,
I think if you're gonna live in any environment,
I used to think just Ohio,
but if you're gonna live in any environment,
you need to keep the paint on that,
on all of those surfaces.
Recently we did a screened-in porch and,
it doesn't sound all that glamorous,
but all the screened-in porches we've owned
have been made out of wood and needed paint,
usually white paint on top of the wood.
And so that means, believe it or not,
every three or four years,
someone's out there scraping and painting.
Even though we built it brand new from scratch.
So this recent project we did,
we made every piece of product
either PVC, vinyl, or aluminum.
It was really neat, and so, by the way,
we didn't finish any of that with paint on top.
We used a specialized silicone caulk that doesn't yellow.
We used all stainless steel screws and all vinyl caps,
and it was a lot more expensive and a lot more work,
but so far, when we've looked at that,
a year and half later,
it just shows some dirt here and there
that could be power washed off.
But when the washing is done, it's white and fresh again.
Now if it were painted,
when you'd power wash, a lot of the paint would come off.
So it's a better situation at more cost up front.
- [Sarah] So I asked some of our Instagram followers
to maybe submit some questions they had for you.
And Andrew Ter-own-ez, I hope I'm saying that right.
He wants to know,
how do home builders vet, or manage, their trades?
Are they usually employees?
Are they usually subcontracted?
How does that work for you guys?
- [Jim] So for me,
I was already working in these neighborhoods
doin' trim carpentry
and running into plumbers and electricians and masons,
and I would know who's of the better
or who's doing good work, who's in high demand,
and who to stay away from.
So the builders basically vet their contractors,
their subcontractors,
by working in areas where the work is being done.
And what we do is we get on the phone to the local areas.
I know 10 people live in a local community
that do great framing.
Well, I'm gonna call through and I'll start at one point
and start with a friend named Levi
and the next thing you know I'm down to Andrew
and he's gonna tell me, "Oh I can't fit it in
"but you know, call my cousin Ricky."
And so next thing you know
I'm meeting Ricky for the first time.
but I know where it came from.
That Ricky's busy.
He does the kind of work
that the people I work with have always performed.
And we'll figure out right away
if we're a fit for one another.
- [Sarah] Yeah, so it sounds like a good home builder
is gonna have a great network of several trades,
in one specific trade,
so that you're not gonna hold your client up
but you're still working with quality people
who care about craftsmanship.
- [Jim] If you work with a builder that relays the message,
that don't worry the subs are gonna build it for you,
you wanna run from that guy.
- [Sarah] And I think that's an important question
to anyone who is maybe currently talking to a home builder,
is ask those questions.
How do you vet your subs?
How do you speak with your contractor?
Are you knowledgeable in the actual building of the home
so that you can direct your subs
to give me quality workmanship.
- [Jim] And you've got even a better point there
that there are builders out there
that have great advertising,
they've got all the right stuff
in the bringing customers to the office.
But what they lack is, they've never built houses.
They've never worked inside of them.
They've never applied any kind of features or moldings
or the things that you and Nick do.
You two probably know a great deal more
about building a house
than so many people that say they're home builders.
- [Sarah] It's scary no matter what you're looking to buy,
how much you have to vet the business,
because you just don't know behind the flashy website
or what have you, what you're really dealing with.
Okay, so for one of our final questions,
another one of our Instagram friends
from Digihome, Henry Johnson asked,
"How do you help your clients decide
"on what extras to put in the their home
"to up their resale value?"
They may think it's a dream home,
bu we always know things happen in life
so I'm assuming it's a good home builder's job
to direct their clients to pick upgrades
that will help their resale
and not make their home not sellable in the future.
How do you guys navigate that?
- [Julie] A, what kind of home is it?
Is it a family home right now?
Is it an empty nester home?
'Cause all of those have
a little bit different things for resale.
If it's more of a family home,
make sure any of your upgrades are very user-friendly.
As far as in the kitchen, with kids,
that's a good place to put your upgrades
because it's being used, it's pretty, it's all the time.
- [Sarah] Yeah,
it sounds like you really have to know your why.
Why are you building?
And that will help you decide
on what finishes you should put in there
so that your home not only makes sense for you,
because it's your custom home,
but also makes sense just in case you do have to sell it.
Is financing a new build
similar to financing an existing home?
Is it still a mortgage situation?
How does that work for someone
who can essentially afford a new build
but they would be financing it?
- [Jim] Well that's an excellent question.
We get that all the time.
When we meet new customers,
that's one of the first things we almost always hear.
And I'm always surprised at how few people understand that.
But the financing for a new construction loan
is nothing like your conventional mortgage.
- [Sarah] Okay!
- [Jim] In that of itself,
I believe there's three variations of it.
So I'll try to be careful
and stay at least on the one or two for sure
that I can think of off the top of my head.
But first of all, the conventional construction loan,
it's gonna be paid out,
well first thing you have to do as a buyer,
you take your money and/or your equity,
into the bank and basically put it on deposit.
So let's say you sold your house
or you're bringing such an amount of money to the loan,
you have to put that on deposit,
and that's the first monies
that are gonna be paid to the builder
as the foundation's finished, the framing's finished.
So, if you can imagine, the first thing the bank's gonna do
is draw that money out of your money, the buyers money,
and they're gonna hand it to the builder, interest free.
And as soon as you get into the bank's money,
you're gonna start paying back the loan immediately
with interest only.
Now when the building is done
and the people take possession and move in,
then the loan is gonna convert to your conventional mortgage
seamlessly, and now you're gonna pay principal and interest.
To do that, the builder has to be satisfied,
and you have to be satisfied.
There's another type of construction loan,
and that is where you can go to them and say,
I want to live in my house, I don't wanna move,
and I want to get a bridge loan with construction loan.
So what they do is they allow you to live in your house,
they give you enough money to build the new house
on the promise that you're gonna sell your other house
to pay off the bridge loan.
- [Sarah] Oh okay!
- [Jim] And then it goes on
where it becomes a final mortgage at the end,
but now you've got two loans basically goin' on there
while you're havin' the convenience--
- [Julie] That's a little more expensive.
- [Jim] But like anything,
there's a great deal of convenience
and there's a lotta luxury to that.
Picture taking a relaxing bath versus a cold shower.
The move outta your house, put everything in storage and--
- [Julie] Rent somewhere else.
- [Jim] And rent somethin' where temporarily,
while your builder's building the house
and not be tempted to rush your builder,
is more like a cold shower.
So that goes back to
the most important part about this thing is,
to treat your builder
the way you'd want your builder to treat you.
Rushing your builder doesn't have a good effect for you.
The thing you wanna get out of this is a high-quality,
you wanna have a great experience,
and I think, to us, the most important thing is
let him have, or her have, the time
to enjoy the process with you
and get the things that are gonna be done right
and in our case we really are big believers
in let the house dry out.
So often people don't understand in new construction,
your beautiful new home could have started out
in the middle of the worst summer storms
that hits your area.
And so it'll go from soaking wet
to where you're walking in there one day saying
look at how beautiful everything is,
as it starts to crack and pop and shrink.
So if your builder is on the mindset we're on,
and that is, let it dry,
take your time to get it dried out and down
before you put the final elements in,
you're gonna be the beneficiary of that,
not just the builder.
The builder'd rather be paid and get his money early,
but it's better for everyone
to take their time with that construction.
- [Sarah] I feel like that's the name of the game
for almost anything in life, just (Jim chuckles)
slow down, be patient,
and it's gonna be worth the wait.
- [Jim] Yeah, very good, yeah.
- [Julie] Absolutely.
- [Sarah] Sounds great.
Well I think this discussion
has been really informational for me,
so I know it's gonna be
for other people who are interested in,
maybe not right now finding a new build,
but maybe that's a goal they can have in the future
once they really know what they want out of their home.
All right, guys,
so I really appreciate the time you took today
and all the tips and tricks and insight
you've provided to our guests and our audience.
So if people wanna talk to you more about home building,
how should they get ahold of you?
- [Julie] They can feel free to email us
at James, or Julie, @jamesyeagerhomebuilders dot com.
Or we're pretty old-fashioned, we love a phone call.
- [Jim] 330-677-0107.
- Great, great, and in the notes below
I'll also include a link to your website
so people to come and check out more of your work,
they can do that there.
So thank you so much.
Hey, so that wraps up this episode.
I hope you found some valuable information.
If you've ever considered buying an old home
versus buying a new home, I know the Yeager's personally.
If you have any questions no matter where you live
I know they'd be happy to chat with you.
Thanks for tuning in.
If you like what you see,
please hit that subscribe button, it helps us grow.
We love bringing valuable information to you every week
and until next time, my name is Sarah Karakaian with Nestrs,
talk to you soon.
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