A custom home is perfect for buyers who want to build their dream home, complete with a floorplan fit for their needs and all the amenities they desire. Designing a custom home though, means extra costs are associated. NewHomeSource broke down the cost analysis for building a custom home, and now it’s time to decide whether building a custom home is worth the extra time and money.
Deciding what type of home you want is one of the biggest decisions you’ll ever make, right after the initial decision to buy a home instead of renting. There are two primary types of homes you can build: production homes and custom homes.
Custom homes are typically built on land owned by the buyer, and the builder works with the buyer to develop a floorplan for their one-of-a-kind home.
Production homes are built as a part of a larger new home community, and typically, the builder already owns that land prior to construction. Production homebuilders offer a choice in floorplans, with some options for modifications, but these plans do not have the same customization options that custom homebuilders offer.
So, is a custom home worth the extra time and money? Here are a few benefits of a custom home to consider:
More customization now = Fewer expensive changes later
If you build a custom home, you will many more options when it comes to designing your floorplan and adding the amenities you want to your perfect new home; whereas a production builder has a set floorplan with limited design options.
Custom homebuilders will help you plan every element of your home, from the depth of the floorplan, to that backyard pool you have always dreamed about. Custom homebuilders are also flexible in mixing styles. Want a contemporary kitchen but a modern style living room? How about a pool with a porch and an outdoor kitchen? This can be achieved in a custom home!
Custom homes don’t have to be over-the-top expensive
The biggest difference between custom builds and production builds is the cost per square foot. The flexibility that comes with building a custom home affects the price, and you’ll ultimately be paying more for the customizations you plan with your new home.
What factors into this additional cost? Hiring your builder, architect, land surveyors, designers, and buying your land. Yes, you will be purchasing your own land, because custom homebuilders do not factor in the cost of the lot into your overall home cost. In addition, you have to account for all unforeseen costs that may not be clear at the start of a custom home project.
It is possible to build your dream home without spending a fortune. Make sure to evaluate your options, and decide what extras you want in your home more than others. A custom home can be your forever home.
What perhaps may be the biggest reason families opt for custom homes is to build their forever, dream home. It’s the same reason homeowners opt to buy instead of rent, because while you are paying more upfront for a new home, you end up saving more in the long run. When renting, you can end up spending thousands of dollars a year on maintenance and upkeep.
When you decide to build a custom home, you’re building the home you hope to grow your family in, and maybe even retire in. The extra time and money spent on designing, building, and settling into your custom home, will be worth it if you plan to make it your home for years to come.
It's important to study your options, but the long-term cost savings of buying a new home are better than maintaining an older rental. Custom homes, while more work and costly, can be the last home you ever have to plan and build.