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COST PLUS WITH MONARCH​

Financing Your Dream Home

A “Cost Plus” build is when a contractor, like Monarch Building Group, agrees to build for a client based on a set of plans and scope of work provided by the client.

The contractor then helps to provide a budget and specification sheet to use as a guideline throughout the building process.

Upon agreement to terms, the client is responsible for paying all bills associated with the build, plus a builder’s fee (15%), all of which run through the account of the contractor.

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Why do Cost Plus with MBG?

Transparency

You, the client, and the contractor know exactly what the costs are throughout the whole process, as comprehensive billing statements are sent out with each phase of the build. Transparency = Fairness, for you and us.

Cost

Cost Plus pricing typically costs less than turnkey pricing on a normal building project, as a budget is built and set by you. Budget guidance is offered and encouraged, as our team is well versed in the industry and can help to provide realistic pricing expectations on every square inch of your home.

Led By You

The process is completely led by you from start to finish. All choices regarding the build, like plans, products, and finishes are completely up to you. There are no set options, which allows you to truly build the home of your dreams!

Is Cost Plus for everyone?

The short answer...no!

There is not a set price for your home with a Cost Plus Build. This can become overwhelming and stressful if expectations are not managed, since even though a budget is provided, the end price will reflect the current construction costs and product selection made by you, the client, during the process.

What To Expect

01

The Budget

You will receive a construction budget that is broken out into phases.
02

Work Begins

As work begins, you will receive billing statements for each phase.
03

The Bills

You will receive digital copies of all bills associated with your project.
04

Final Billing

You will receive your final billing statement 2-4 weeks AFTER the Certificate of Occupancy is presented to you.
05

Welcome Home

We welcome you home with a Homeowner's Manual, a copy of your contract, and a finalized statement for your records.
sample budget

Your Budget

Your budget is ultimately decided on by you, with some industry-versed guidance from your Monarch Building Group Client Care Coordinator at your initial consult meeting.

You can expect your budget to reflect line items for each and every item needed for the build, as well as items you may want included in your custom build, plus the 15% Construction Fee agreed upon in your contract.

Your Billing Statement

Billing Statements will come with each draw that is done during your construction process. Each line item will be updated as we receive the bills that they are associated with. In each section of your billing statement, you will find a Running Total. This is your total amount for each section at that point in time and should be used to reflect on your budget for each section.

You will also find a line item that will show the percentage of your budget that you have spet.

At the bottom of your billing statment, you will find your Total Billed to Date, along with any payments that have been made.
sample billing statement
sample of final bill

Your Bills

During your Cost Plus build with Monarch Building Group, all bills will be sent directly to MBG. For full transparency, we will then make sure that you have a digital copy of each and every single bill that we are sent.

This way, you have a billing statement that shows the amount and the copy of the bill from the actual company itself to cross-reference.

MBG charges a 15% Construction Fee, which is charged with each draw.

Your Final Documents

Congratulations! Your Monarch Building Group Cost Plus custom home is almost complete. Below are the final items you will receive:
  • Upon completion of the home, per final inspections and punch outs being complete, a Certificate of Occupancy (CO) will be granted.
  • Two to four weeks after the CO is presented to you, you will receive your final billing statement from Monarch Building Group, with all draws completed and itemized. This billing statement is to be paid upon being received.
  • Prior to occupancy, Monarch Building Group will schedule a final walk-through with you where a punch list will be constructed. Once all work is completed, we will welcome you home with keys, a homeowner's manual, copy of the contract, and a finalized statement for your records.
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