Not all people like to buy an existing home when they buy that dream place on earth. For those who want to be the first to live in that new home, a home builder will represent the first hurdle in the construction project.
To choose the right builder for your project, you will first need to decide what type of house you want built. There are two types of constructors. The production builder and the custom builder.
The Production Home Builder
The production house is one that is designed on a large scale and mass produced as a “model.” These models are often changed a bit with the customizations and upgrades available for the home. These upgrades are offered as part of an add-on package to a base model home.
Production houses are often offered at a base price with additional costs added to the final price of those last minute keys. When choosing a production home builder, it is best to buy the home as a package with all the appliances and improvements included. Adding these items individually can cause the price to go up more than the market value can allow; leaving the owner with an immediate negative equity in the home.
The custom builder
For the would-be homeowner looking to build a home from scratch, a custom home builder will be able to help you through the home planning process and obtain all necessary permits for construction. The potential homeowner will need to purchase a plot of land, survey the land, and choose a set of plans for their home.
When choosing custom plans for a home, remember that these plans are only a guide. A custom home builder will be able to adjust the plans to your specifications before the final plans for the home are set in stone.
As the home progresses, additional costs associated with contingencies will need to be factored in when pricing the home and staying within budget.
Real estate is an investment and while many people love the immediate nature of buying an established home, for those who want to own a home that suits their wants and needs as a builder it is one of the best options.
