How can you protect yourself when building a home?

There is a lot to think about when building a home. From the start, you will have a lot on your plate, including the process of comparing builders to ensure that you make a sound decision.

As excited as you may be about the process, it is essential that you take the necessary steps in protecting yourself. This includes many things, such as the following:

-- Making sure the builder is registered and licensed to build in your state.

-- Reviewing their complaint record, if any, with the Better Business Bureau as well as county and state authorities.

-- Visit other homes constructed by the builder, as this will give you a clear idea of the quality you can expect.

-- Hire a home inspector to assist you throughout the building process. This will allow you to address problems before they become bigger issues.

-- Hire an attorney to review your contract before you sign on the dotted line. You don't want to sign something that could work against you in the future.

-- Deposit the smallest possible amount of money, as you don't want to risk losing a large sum should you need to walk away for any reason.

-- Understand the warranty you are being offered, including what it covers.

These are the types of steps you can take to protect yourself when building a home. Even though you hope everything will go as planned, you never know for sure. It is good to protect yourself, however possible, while also knowing what could come into play along the way.

Source: ABC News, "How to Protect Yourself When Buying a New Home," Elizabeth Leamy, accessed Oct. 23, 2015