There are a lot of options for finding your next home. This guide teaches all about the different types of builders out there, and how to determine which is the right fit for you.
Production Builders
Production builders offer one thing above all else — price. There are many strategies used to keep their costs down so they can offer an affordable home, from bulk purchasing of materials to minimizing options available. You pick the colors and a few features, but most of the structural components cannot be changed. If you are more concerned with a space that works and keeping your mortgage payment reasonable, production builders are a great option.
Full-Custom Builders
On the other side of the spectrum you have custom builders. These companies often have in-house architects, or you can bring your plans and work with them to create your dream home. With a focus on giving you every detail you ever wanted, you are sure to love the end result. Most custom builders will work with you to set an “allowance” for each feature in your home to keep you on budget as you pick out your different options, but costs can skyrocket if you aren’t diligent.
Semi-Custom Builders
Down the middle are semi-custom builders. Though often marketed as “custom”, they don’t give complete control. These builders offer a set of architect-designed plans you can modify to your liking, with a wide range of features available. Adding more windows, opening up doorways, and adding on additions are possible with a semi-custom builder. These are a great option for those who have owned homes before and have a better idea of what they want in a home without the time and money required for full-custom.
Quick Move-In Homes
If you find a builder you like and need to move quickly, ask if they have any quick move-in homes available. These are homes built in advance (with features selected by a design team) for sale. Builders create these for buyers needing to move in faster than the usual 6-8 month build time and to showcase the layout of a home for other potential buyers.
Building On Your Lot
Already own land or have a dream location in mind? Many builders will work with you to find land suitable to your needs, or have your agent assist you with this step. Agents like myself who spend a lot of time in the new construction arena often have unique insights into land for sale in the area as well as an understanding of potential pitfalls to look out for. My recommendation is to get all pertinent parties involves as early as possible — the architect, builder, lender, and real estate broker all have a unique perspective and should be consulted before purchasing land.
