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Custom Home Building Versus Buying an Existing Home

Friday , 3, December 2021 Comments Off on Custom Home Building Versus Buying an Existing Home

With housing affordability, and mortgage rates hovering near historic lows, the timing is right for purchasing a new home. In this market for buyers, there are plenty of choices to think about. Before deciding on the type and size of bedrooms you'll need to look at the various categories of the housing market.

"Resale" homes make up the highest percentage in the marketplace. Built years or years ago, these homes reflect the desires and preferences of the past owners. They might be fitted with old-fashioned fixtures and technology and are constructed in a state of decline.

"Custom" houses are constructed according to the specifications of the buyer typically on the land they already have. Although this kind of new home construction only accounts for ten percent of homes on the market, it offers homeowners the greatest control. Potential homeowners can get in touch with the best custom home builders through

By working with the "on the lot" custom home builder the buyer is the one who decides on all aspects of the construction process, from choosing the site to the design, floor plan, and size along with the type of doors and windows as well as flooring and siding and the rest of the details, such as cabinets and drawer pulls, light fixtures paint colors, etc.

"Spec" homes are built based on the speculation that a buyer can be found during or shortly after construction. These new homes may be designed with up-to-date floor plans and features to accommodate current preferences. When purchased before completion, a buyer may be able to select some finishing touches.

But this type of home construction may also be designed to minimize cost and maximize profit for the home builder, potentially leaving homeowners with less than premium materials and designs that are not as contemporary.