There are so many benefits to building or buying a new construction home rather than buying an old property. Not only will you be the first to occupy the property, but you’ll also be able to have a builder’s warranty, smart-home features, energy-efficient appliances, and a contemporary design. Furthermore, you can personalize your new construction home however you want.
However, not all new builds are the same. There are several types of new construction that all have different advantages. Today, we’re going to discuss each one so you can determine which one is right for you!
1. Production Homes
Production homes are built in bulk. They are typically used in new home developments such as subdivisions that are often found in suburbs and rural areas. Also known as “cookie-cutter homes,” they are built from a selection of floor plans and materials in a short period of time. Because of this systematized approach, they are often more affordable for buyers.
Customization is also available, however, minimal. Home buyers are able to choose their lot, floor plan, and exterior design. Some builders also allow a bonus room, such as a guest room or office, to be added to the floor plan. Furthermore, they will also be able to choose the material and design of kitchen cabinets and countertops, carpeting, flooring, and other fixtures and finishes. However, there is often only a limited selection that you can choose from.
2. Fully-custom homes
Fully-custom homes are built one at a time. You can either buy a lot from a builder or build on a lot that you already own. For fully-custom homes, the buyer works directly with the builder to design, plan, and select all the details about their home’s construction, layout, and finish. Alternatively, the buyer can also hire an architect to create a custom floor plan to fit their individual specifications.
Fully-custom homes will definitely cost more than a production home, but you will be able to create a home that will truly embody your personality, style, and lifestyle and achieve your dream home.
3. Semi-custom homes
Semi-custom homes are the type of new construction home between production homes and fully-custom homes. You get to make more decisions than when you are buying a production home, but fewer than if it will be a fully-custom home. Some production home builders also offer semi-custom homes, sometimes in the same planned community as the production homes. But you’ll have the privilege of having more options and flexibility. If you are building a semi-custom home on land you already own, your builder will provide you with different home plans to choose from. Then you can ask for minor changes like lighting fixture styles, luxury flooring, high-end appliances, and energy-efficient heating and cooling systems.
Most buyers prefer this type of new construction as they are able to decide and get what they want without the hassle of hiring an architect, dealing with all the approvals, getting an engineer, and other tasks related to building a fully-custom home.
4. Spec homes
For spec homes, builders are the ones who choose the floor plan, finishes, and landscaping. They pre-build the house which makes it ready for move-in as soon as someone buys the house. They are often built on single lots in established communities, with the objective of attracting potential buyers whose preferences match the features of the spec home.
Although you don’t get to customize a spec home, its advantage is that you don’t need to go through the tedious process of construction but you’ll still be the first one to live in the house. It is perfect for home buyers who don’t want to wait months and need to move in as soon as possible.