Who should I get to build my new home?
When shopping for a new home there 3 general questions you want to answer. Each one of these questions have numerous details to consider. Here are the questions:
- Where do I want to build my new home?
- What type, size, etc. new home do I want to build?
- Who do I want to build it?
Today lets look at the last question. “Who do I want to build my home?”
To be able to answer that question your first need to determine what type of new home builder will best fit the project you have in mind. There are basically 3 types of new home builders. Most new home builders will fall under one of those types although some new home builders may do more than one type.
The first type is the “Production Builder”. General characteristics of this type of new home builder are:
- Only build in their communities.
- Do not allow any customization of homes.
- No construction loan needed for customer.
- Build homes quickly and efficiently.
The second type is the “Semi-Custom Builder”. General characteristics of this type of new home builder are:
- Build in their own communities but also will build on your lot or land.
- Allow customization of their floor plans. Some allow you to bring your own plans or will help you develop your unique new home plan.
- Will obtain construction loan if building in their community. Some semi-custom builders will obtain construction loan for when building on your own lot or land.
- Build homes quickly and efficiently but will typically take a little more time before starting especially if their are some customization required. Might allow some minor changes along the way but very limited so that a schedule can be followed and the build is completed in a timely manner.
The third type is the “Custom Builder”. General characteristics of this type of new home builder are:
- Do not have communities. You find your lot or land and they will build on it.
- Do not have any stock plans. You are typically required to hire architect to develop plans for you.
- You are required to obtain your own construction loan.
- Build times are typically longer. Most custom builders allow changes along the way which increases build times substantially.