Homebuyers have two major choices: To purchase an existing property or have one constructed from the ground up. Yet, not all custom homes are the same. Certain properties are built “on spec,” are semi-customized as part of a development or can be completely designed and built to your exact requirements.
Yet, no matter which custom home you choose, it comes with several benefits and a few drawbacks.
- Warranties: Most custom homes come with a warranty. If the property is found to be defective in any way after you move in, the builder is obligated to repair it.
- Changes Can Be Made: If the property is built to your specifications, even partially, changes can be made during the building process.
- Up to Date: Instead of a dated design you have to upgrade, a custom home is often designed and outfitted with the latest technology, including energy-efficient features to keep your bills low.
- More Energy Efficient: Added to the point above, modern lighting, windows and electrical systems consume less energy, so your bills end up being smaller over time.
- Properties Are Usually in the Suburbs: This places you farther away from the city center, can extend commute times and might pose issues with public transit.
- New Lawns: New homes often come with just-planted lawns. As a result, you may have to spend more time and money tending to your property’s landscape early on.
- Close Neighbors: Many custom homes get built in subdivisions. In certain cases, this could mean your neighbors are relatively close, without much space between properties.
- Extra Wiring: In certain instances, you may need to get your home wired for cable and internet after the property is completed.
- Appliances: On a similar note to the above point, you may have to shell out extra for new appliances.
- Costs: To buy a custom home, you should be ready to pay for all costs with a construction loan. Since lenders consider these riskier than regular mortgages, you may be asked for a 25-percent down payment, rather than the typical 20-percent.
Interested in purchasing an energy-efficient custom home? Give us a call today to learn more about By Carrier’s properties and Central Connecticut communities.