Feb 5, 2026
Stephen and Brittni DeMatties had a plan to escape city life, but it turned into a financial and emotional nightmare for the Lake County family.
The DeMatties agreed to pay about $280,000 for a custom-built home on rural property in Altoona, Florida. The project was supposed to take roughly 10 months. More than two years later, the house is still unfinished.
Advertisement
“It’s brought a tremendous amount of stress on our life,” Stephen DeMatties told WFTV Action 9 (1).
Thanks for subscribing!
Read the best of Moneywise in 5 minutes or less.
By signing up, you accept Moneywise Terms of Use, Subscription Agreement, and Privacy Policy.
It's a cautionary tale that highlights the hidden risks of custom home construction.
Delays, payments and mounting pressure
The DeMatties hired a licensed Florida contractor in July 2023. Their contract stated the home would be “substantially completed within 215 business days.”
With a baby on the way, their dream was 10 months away when they got the permits.
“That’s what we were thinking,” DeMatties said.
Instead, they ran into multiple snags. Progress on the construction project slowed even though money was being withdrawn from the loan.
“There was always, like, a common excuse of, like, medical issues or health problems or something,” DeMatties said.
About $170,000 had been drawn from the loan. Then a lumber supplier filed a lien on the property, claiming it hadn’t been paid. The DeMatties say they paid out of pocket to remove the lien and also paid other subcontractors directly to keep the project from falling further behind.
Advertisement
They aren’t the only family to have experienced this, as February 2025 court records revealed the Rodriguez family filed a lawsuit.
Lake County couple, Ivan and Maria Rodriguez, alleged their custom home was also not completed within the 215 business days, as specified in their 2022 contract. That lawsuit added multiple subcontractors who placed liens on their home after not being paid as well. The lawsuit remains open.
Additionally, a concrete supplier has also filed a separate lawsuit related to that project, alleging unpaid materials.
Must Read
- The ultra-rich use these 5 real estate strategies to build wealth while they sleep — you can start with just $100
- Here’s the average income of Americans by age in 2026. Are you keeping up or falling behind?
- Insurance companies profit most from drivers who auto-renew without shopping around. Comparing 100+ quotes takes 2 minutes and costs nothing
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Home improvement risks
When contacted by WFTV, the contractor in question, Michael Olm, said that homeowner-requested changes caused delays, adding he would have finished the DeMatties’ home if given more time.
Back in 1996, he was sentenced to eight years of probation to pay back $215,000 in restitution, and a year later, Olm voluntarily relinquished his contractor’s license after providing a false written statement about the payment status of subcontractors.
Advertisement
According to the Federal Trade Commission (FTC), home improvement issues rank amongthe top three complaints filed by homeowners (2).
Custom home builds carry unique risks because of high upfront costs, long timelines and limited leverage once funds are released.
Even without proven wrongdoing, stalled projects can leave families financially exposed. Housing advocates say the real damage often comes from the months or years of paying rent or a mortgage elsewhere while construction loans build up interest.
There’s also the possibility of legal expenses and higher completion costs if a second builder has to step in to finish the job.
Advertisement
In the DeMatties’ case, they eventually hired another contractor to finish the home, adding new costs to an already expensive project.
What homeowners should do before signing
There are warning signs for consumers to look out for before construction even begins. Housing attorneys caution that homeowners can sometimes place too much trust in contracts they may not fully understand (3).
Here are some steps that homeowners can take before signing a custom home contract (4):
- Verify the contractor’s license status and review complaint histories, lawsuits and liens through state and county databases
- Confirm the contractor carries the appropriate insurance and, when available, bonding
- Avoid large upfront payments and set up withdrawals around clearly defined construction milestones
- Get lien releases from subcontractors and suppliers before each payment is made
- Make sure all change orders are in writing, with pricing and timelines agreed on before work begins
- Consult a construction or real estate attorney to review the contract
- Watch for vague timelines or contract language that gives builders a lot of discretion to delay finishing the project. Clear deadlines and accountability measures can help prevent projects from dragging on for months or years.
For the DeMatties, what began as a dream of rural living turned into a financial disaster. Their story is a warning to others to do the extra homework upfront.
Custom builds can offer flexibility and control, but they also shift a lot of the risk onto homeowners who have to manage the process. Careful vetting, documentation and oversight are critical to making sure you protect yourself.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
WFTV (1); Federal Trade Commission (2, 4); NCBA (3).
You May Also Like
- JP Morgan sees gold hitting $6,000/oz before 2027 — and a Gold IRA lets you hold the physical metal while deferring the tax bill. Get your free guide from Priority Gold
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Millionaires under 43 are reshaping investing — just 25% of their portfolios are in stocks. Here’s where their money is going
Freelance writer with an economic development and consulting background.
