A Quick Guide to New and Custom Homes

Posted on: 3 June 2020

Buying or building a new home is one of the most exciting (and in some cases nerve-wracking) experiences of many people's lives. If you're entering the market and gearing up to purchase or build your own home, there are a few things you should know before making any major decisions.

Consider spec houses.

Many people write off the option of pre-built homes, assuming that they are of lower quality. However, there are plenty of reputable builders producing luxury homes that are move-in ready. If you can find a spec home in a good location that meets all your requirements, it can be a great alternative to investing in a custom home. Spec homes have the obvious benefit of having no wait time, and you can examine the finished product before signing on the dotted line.

Modify an existing project.

A great middle-ground between spec and custom is to take on an existing project. This has a number of benefits: the land is already purchased, permits have already been taken care of, blueprints are already written up, and construction has already started before you've spent a dime of your own. Obviously not every project will allow for modifications, but in many cases, builders will agree to work with you on making changes to the design in order to build the home to your specifications. 

Build your dream home

If you know that you want a custom home, make sure you have all your ducks in a row. You're going to need an army of people, and to make a thousand decisions, so it's best to keep some checks and balances.

Find a Builder and an Architect

Don't run out and buy a plot of land right away. You should seek out a builder to assist you with the purchasing project. They can ensure that the land you want to build on is suitable for your project, and can likely help you get a better deal than you would get for yourself. In addition to your builder, you'll need an architect. Your architect and builder will keep the scope of your project realistic and help you finalize your blueprints according to your wants and city regulations. 

Make a Budget

Set a realistic budget, and leave yourself some breathing room. There's a good chance that you will exceed your expected costs due to the complexity of the project, so be prepared.

Set a Schedule

A schedule will help keep things running smoothly, and you'll be able to quantify when and how badly you are falling behind if problems add up. Remember to expect setbacks. With so many variables like bad weather, back-ordered materials, last-minute changes to the plans, something is bound to go wrong. If your schedule starts to slip, take a deep breath, and remember that you are going to come out of this process with the custom home of your dreams.

To learn more about custom homes, reach out to a builder near you.