It’s the best of times and the worst of times in the current real estate market.
While prices have trended slightly down across America, costs on average are still high as mortgage rates continue to climb. Still, homes are very much in demand while inventory continues to be low on average.
Sleeping Dog Properties Andover reports that the real estate climate has led many to pursue custom home building as an alternative.
The industry has grown significantly over the past few years. Custom building rates during the first part of 2022 increased by 28% compared to the same period in 2021, according to an analysis from the National Association of Home Builders.
But simply opting to custom-build a home is just the beginning. Here’s what to consider when looking for someone to build a dream home.
Do Some Research
In addition to listing and then looking into available home builders in an area, it pays to do extra research. Check reviews posted not just on the company website but on neutral third-party review aggregators.
Ask neighbors if they’ve heard of the builders or talk with others who have had custom homes built to see if they have recommendations for not just certain builders but how to navigate the process effectively.
Once potential builders have been identified be sure that the company has references to check in with.
Ask a Lot of Questions
Picking a custom home builder is similar to hiring an employee. Come armed with questions to make sure they are the right fit. There are basic questions to always ask, such as how long the job will take and how much it will cost, but the NAHB recommends going beyond that.
Among their recommended questions are checking on floor plan options and how easy it will be to customize certain features that otherwise may be standard.
Location, Location, Location
Custom home builders typically have defined work territories, so be sure to double-check that the builder is able to design and build in a desired location or that they have worked there before. It can be tricky.
Within a state or a region, a custom home builder may do business in most areas but may refuse to work in specific communities or towns. Builders may also apply to work within certain cities or neighborhoods.
Do On-Site Visits
Once the top three custom home builders are picked, ask to tour some of their projects either in the works or recently completed. Seeing a model home may not be the best indicator of a company’s work.
By viewing a home under construction, one can get a better idea of the construction quality, the use of energy-efficient materials, and whether elements like studs and rafters are spaced well.
Don’t Always Go with the Lowest Price
While it’s important to compare overall costs, it’s more important to not jump on board with a custom home builder just because they are less expensive.
If a bid is particularly low, especially when compared to the average offer by other home builders, it could mean shoddy quality or that the home builders are less experienced than others. It could also mean that the builders are likely to upsell as the project goes on.
In the world of custom home building, sometimes paying more is the better investment.
