Home Building Tips from Greystone Construction

RELOCATING TO TENNESSEE

We had the opportunity to sit down and chat with Denny Smith of Greystone Construction, one of the finest custom home builders in Knoxville TN. He met us at Rarity Bay, an award winning golf community on Tellico Lake where he’s been busy building dozens of custom homes for those relocating to Tennessee. Our mission was to find out the latest home building trends and cost saving tips to streamline the process. Mr. Smith shared that and more. 

Smith began building homes in the Knoxville TN area back in 2003. He’s a soft spoken personable UT grad who enjoys the outdoors when he’s not behind a bulldozer. He prides himself in building unique one-of-a-kind homes that blend seamlessly into the homesite. 

After the 2007-2008 economic debacle, Smith feels consumer confidence has returned and people are moving forward with their home building plans. Those that can afford McMansions are building them. In fact, Smith is building or has built a number of 10,000-20,000 square foot homes on Tellico Lake. Homes over 5,000 square feet are commanding dramatic rooflines and quality finishes. Brick is back. Stucco is out. He believes buyers are recognizing how the use of natural elements on the exterior add dimension and curb appeal. Synthetic materials are also out when it comes to roofing, doors and siding.

The demand for one level homes continues to rise with homes averaging around 2,500 square feet. Buyers are choosing high quality energy efficient products when they can afford them. At the bottom of the real estate market, it was common for buyers to chose remodeling over a building a new home. Smith is confident the trend has changed. People want what they want and are willing to pay for it. He’s seeing:

• Elevators in the home
• Reverse tray ceilings
• LED lighting
• Induction cooktops
• Geo-thermal heating/cooling systems
• Spray foam insulation 
• Stain-free paver walkways/driveways

We asked Smith to share with us ideas about ways to save money and minimize the stress of building home when relocating to Tennessee. Here’s his candid feedback:

CUSTOM HOME BUILDING TIPS

Involve the builder in the design process - Creativity is fun until it’s time to break out the checkbook. What seemed like a fabulous idea could cost you dearly and there may have been a better and more cost effective way of achieving the end result by designing it differently. Quality home builders in Knoxville TN will know what’s practical and cost efficient. Inviting a home builder into the design process prevents misunderstandings and disappointments at the end.

Architects are not engineers - An architect could be described as an ‘artist’ where he or she’s creative skills transform into a home design that’s in compliance with local building codes and regulations. It takes years to obtain an architectural certification but it is far more difficult to become certified engineer. An engineer’s structural and technical knowledge goes deeper and may prevent a roof from collapsing or home from rolling off the mountain. Having an engineer review your home plans before producing the final blueprints is essential.

Residential home designers a.k.a. ‘street smart architects without major certifications’ - Consider a home designer in the process. Home designers see beyond the shell structure and site layout. Most home designers go to the same school as architects but they tend to be more creative by maximizing living spaces, natural light, and energy efficiency. Often times, they’re better communicators.

Get a thumbs up from the builder before you choose your lot - Foundational costs can reach from one end of the pendulum to the other. Don’t be deceived by the lot price tag. One lot might require $100,000 in site prep to build a supporting retaining wall or deep pilings while another nearby lot cost $20,000 in site prep. Quality home builders in Knoxville TN will have a good idea of site prep costs. Visit your lot options with your home builder before you buy it.

Get out of the way - Micromanaging causes chaos and confusion. One of the hardest things to do when building a home is to stay out of the way. Talking with subcontractors and trades during work hours is counter productive. If you must ‘check’ on the house, do it when the trades have left, at the end of the day. 

Learn square footage variables - You might be surprised to know, square footage is calculated differently depending on who you’re talking to.  Appraisers count wall to wall, builders count slab measurements and realtors count air conditioned space. If you’re paying per square foot for anything, make sure you know how they’re calculating square feet.

Turn off HGTV - Creative and one-of-a-kind ideas by celebrity interior designers will cost you. 

Don’t over improve - You may attest that this will be the last home you’ll ever build and you want what you want. Then life throws you a curve ball and you’re forced to sell your home. Your $150,000 kitchen is a much more expensive kitchen than all the homes in your neighborhood. It’s unlikely a buyer will pay for it. Over improving your home is one of the quickest ways to lose money. 

Budget busters - Typically speaking, structural budgets come in on schedule unless changes are made. Where things do go haywire, it’s generally inside the home. The ‘must have’ gold plated sink faucets and Murano glass chandelier you saw on HGTV can cause a checkbook meltdown. The more you change, the more things will likely spin out of control. Budget for unexpected changes.

Most custom builds are on a ‘cost plus’ basis meaning the cost of the item plus a set percentage for overhead and profit. Where quality home builders in Knoxville TN can save you big is by being honest. If you eliminate something, how many builders do you know who would return the item to the manufacturer or store for credit rolling the money back to you? This is standard protocol for Denny Smith of Greystone Construction. Smith believes "honesty is what somebody does when no one is looking".

Bigger isn’t always better - National home builders tend to dominate the marketplace. The suited salesman may say “yes we’ll include that” just to get a contract written but how often do we see them disappear when the dirt is cleared. Choosing a ‘hands on builder’ means you’re likely to see him every day. In fact, most will want to see you once a week for a progress update, when possible. Choosing a ‘hands on builder’ like Denny Smith of Greystone Construction is smart because he takes on the project as if the home was his own. That’s probably why most of the homes he builds are from clients he obtained by word of mouth.

We also want to suggest adding a realtor on your team when building a home. A savvy realtor could become your ‘fortune teller’ because he or she will have a pretty good idea of what your home will be worth, if you had to sell. A trusted realtor will also help you find a short term rental while your home is under construction.

If your family is considering relocating to Tennessee on or near Tellico Lake, Karen Millikan of On the Lake Realty is who we trust and who should be on your phone's speed dial list. You’ll thank us later!