Is it time to take a fresh look at your business plans for 2024 and 2025? Have you analyzed your future lot pipelines based on this year's performance? It's crucial to have someone outside of your land department review these models. We often hear phrases like “we have to feed the machine” or “we're going to gap out,” but seldom do builders consider the opposite problem: could we have too many lots in the pipeline? Have we overcommitted? Will the lots being delivered allow us to build at a price point that the market can absorb?

It's important to recognize that, despite optimistic forecasts from the National Association of Realtors, interest rates are unlikely to decrease later this year. With current mortgage rates hovering around 7% it continues to be a challenging market for buyers.

In the world of homebuilding, keeping track of paperwork can be as challenging as managing the actual construction. One crucial document that often gets overlooked but is vital to the financial health of your project is the lien waiver. But what exactly is a lien waiver, and why is it so important?

In the fast-paced world of homebuilding, staying ahead means making data-driven decisions swiftly and accurately. Microsoft Power BI is the ultimate tool to transform your business by providing semi real-time, custom reporting that brings critical insights directly to your fingertips.

While the concept of a dedicated warranty team is popular and often endorsed by operations teams, there are significant considerations that suggest a more integrated approach could be beneficial. In many cases, superintendents will complete homes up to about 95% and then shift their focus to new projects, leaving a punch list for the warranty team to handle. Although this may seem efficient, it can lead to situations where homeowners feel their new homes are unfinished at the time of move-in, which can diminish their overall satisfaction.

Homebuilders, both large and small, are increasingly facing the threat of cyberattacks. In an industry traditionally focused on physical risks, the digital threat posed by ransomware is escalating rapidly. Many large public builders have already fallen victim to these attacks, though they may not publicly acknowledge it. This raises an important question for private builders with fewer resources: How can you protect yourself?

Why Homebuilders Need to Consider Accrual Accounting Over Cash Basis

In the fast-paced world of homebuilding, where every stick and brick counts, the right accounting method can significantly impact your growth, helping you navigate and manage financial complexities more effectively.