Many buyers these days are turning to building new homes as opposed to existing ones. There are numerous advantages to doing so, including the fact that negotiations tend to go more smoothly since the builder doesn't have an emotional attachment, and the fact that you can upgrade and personalize to your heart's content. If you decide to build a new home, you've got a lot a decisions ahead of you, the first of which is this: Will you go with a production builder or custom builder? For some, the answer to this question is clear. But if you're on the fence or don't know the difference between the two, allow us to help. Take a look at our list of differences, pros, and cons below.
These are the home builders that are prevalent in new-home/master-planned communities. Examples of these builders in Charleston are Lennar, Beazer, Ryland, and David Weekley, among others. A main advantage of using a production builder is their purchasing power. Because they buy a large volume of materials and land, they get better deals, which they then pass on their buyers. According to the National Association of Home Builders, most production builders:
- offer homes and land as a package
- offer a range of plans to choose from
- allow buyers to select their favorite style and design from a menu of details like elevation and upgrades
- can usually deliver the same size of a home for less money
- provide options for first-time buyers, those who are moving up, or even luxury buyers
In addition, when you go with a production builder, you have the option of buying a spec home (pre-built) or building from the ground up, giving you more control over what goes into the home.
When you choose to go with a custom builder, you choose to build completely from scratch. Most custom builders:
- build on the land the buyer already owns, usually purchased separately
- can build from a floorplan supplied by the buyer or can work with the buyer to create a customized plan
- work closely with the buyer and allow them to make more decisions during construction
- will include nearly any upgrades, additions, and details rather than presenting a set menu of choice
If your budget allows for it, going with a custom builder can be a great experience, especially if you're looking to build your dream home. You should expect to pay more for a custom-built home, but you also have a lot more control.
What are your experiences with homebuilding? Do you prefer custom builders or production builders?