When shopping for a new home, one of the first things to decide upon as a potential buyer is your preferred type of construction. Do you want a home that is custom-designed for you or is a ready-to-move-in house a better choice? This is necessary so you know you are investing in a home that fits your standards, budget, and lifestyle.
There are three primary types of home construction that you have to keep in mind when house hunting. They are tract, spec, and custom homes – each offering varying benefits. The following discussion will help you weigh down the pros and cons of each home construction type and see what sets each other apart.
3 Types of Home Construction
For some homebuyers, building a home entails overseeing the construction from the start and dedicating months (or years) for the entire process. There are homes that can take longer to complete and therefore more expensive, while others are faster to build and are more cost-effective.
Knowing the different types of construction house will help make decisions easier.
Tract Homes
Tract homes are typically built in planned communities by production builders or those big established builders with state-wide reach.
They buy large tracts of land and build subdivisions, often with a set number of floorplans, usually three. They also often provide their own design choices to keep a cohesive look and feel in their projects.
Tract home builders build homes whether they have buyers or not.
Other than the basic floor plan, you will have little say over the home design with this type of new construction. Compared to other types of home builders, however, tract homes are often cheaper and have speedy construction timelines.
As with planned communities, tract homes include perks like clubhouses, pools, and basketball or tennis courts, so if you are a homeowner, you will get to take advantage of these incentives. They are also generally built near transit hubs for easy commuting. Easy access to transportation is one of the important criteria for a home location, particularly for workers.
Proven and durable building materials are also frequently used by tract builders to improve energy efficiency, but beware of scams.
It is always best to check for subpar materials and dubious construction methods. If you are interested in tract homes located in a great Ottawa neighborhood, check out these new homes in Orleans by eQHomes.
Spec Homes
The second in the types of construction house is similar to tract homes, but with more flexibility.
Spec builders construct homes even before they have buyers, but on a smaller scale. They do not own tracts of land like production builders do, but buy lots one at a time. Floor Plans and features may also change with every home.
Spec homes typically come as a complete package. If construction has already started, there are very few buyers who can do anything to change it. But with homes built from the ground up, builders are more flexible. You may not be able to change the general layout but can tweak the style and other elements, like the counters and cabinets.
With spec homes, builders and developers incorporate features and finishes that they “speculate” will appeal to the majority of potential buyers, whether it be a single-family home, a condo or a townhouse. If the home you are eyeing has been in the market for a while, you may even get it for less than you expect.
Usually move-in ready, spec homes are the best option for buyers who do not have the inclination or time to customize every aspect of their new home. Just be careful with some budget-friendly properties. There are spec builders who go with contractor-grade materials which are generally considered low quality.
Custom Homes
Built for you and with you, a custom home is your dream homemade real.
Everything from the floor plans to cabinets, you have complete control over. With custom homes, you can make rooms smaller or bigger, add solar panels or pick your preferred bathroom tile. Builders often have basic plans that you can tweak, but you have to pay extra.
There are two ways in which you can start your custom home construction.
You can either buy land and hire an architect builder to turn your vision into reality or sign a contract with a developer/builder to create your custom home on a piece of land they own. With both options, you need to collaborate with a professional to build a home that fits your taste and budget.
Out of the three types of home builders, the custom is the most expensive.
Builders are not flexible with their prices and often require a 5 to 10% deposit upfront. You also have to pay a lot in architect fees if you want your floor plan customized. With custom builders, you will most likely never see a model home since they do not start building unless they have a buyer.
Custom homes allow you to build a home that suits you, but the process can be overwhelming. This is because you are responsible for everything. Even if you work with a designer, you’ll have to sign-off on major decisions. If decision-making is not your strength, you may end up stressed and wish you have never taken that path at all.
