That you can live with! It's better for this budget to conservative as you will no doubt want to make changes as you design your new home. Usually these changes are increases in square footage or additions to finishes that result in higher costs. So, a more conservative budget serves as a safety margin.
Site costs can be familiar with these costs most builders can give "ballpark" figures that will be close to real costs. These costs should include the following: waste disposal system, driveway, power to the site, rough grade, home excavation, perimeter drain, well, water line, backfill and well pump.
Ask the builder to do the following:
The best reference would be the last two homes built by the builder rather than allowing the builders references to be selective which seldom provides a clear picture of the builder's ability. Ask to visit a home that is similar to the home, homes that show your preference you are going to build.
When doing so meet the builder's employees, inspect the quality of construction and the equipment being used in construction. Notice if the building site is safe and clean. All these items will give you an accurate pictures as to whether this is the builder you would like to build your new home.
That both you and the builder are comfortable with. Whatever the source of funds for the project, the schedule should be based upon performance and material purchases. Payment requests should be accompanied by an itemized invoice as well as a "Conditional and Final Waiver and Release of Lien."