Any guys build houses or are general contractors? I am looking into contracting my first house and looking for things to be aware of. You know, those things only experience can teach you. So let me know issues that you have come across and deal with. What have you guys learned from your journeys building houses?
Make damn sure that every Subcontractor has a VALID insurance policy and that their State /local License/Registration is also valid and up to date.
Make sure they are bonded/licensed/insured. Make sure they go over what they priced before you accept any bid to make sure they have everything you want covered. I work for an industrial electrical contractor and deal with the bidding process quite regularly.
NEVER pay out more than the job progress dictates! Meaning, if the contractor(s) are only 25% completed then they should not be asking for a 80% draw. Most people get into trouble when they pay out too much money for the progress being made and find themselves with no leverage to get the contractors back on the job. Make them produce material receipts if you have any doubts. Visit the job often! Don't be a nuisance but be a constant presence. If you can't, then hire someone who can. Having eyes on can keep most people honest. If you're inside a city check your building codes before you make any plans. Know your property lines and rights of egress. Just about anyone with money can get a license and insurance. Check their references and past projects. Good contractors will be more than happy to provide you with a list of previous clients. If they won't, find someone else.
If you know anyone in a trade ask them who they would use to build their house. Meaning, if you have a good relationship with an electrician, plumber, hvac, etc. They are most likely working for the builders doing new install, or going and fixing problems that occur later.