This short series drills down into the details of buying a new construction home. We’ll answer your questions about every step of the process… whether you already live in the Treasure Valley part of Idaho OR if you’re thinking of relocating to the Boise area… we explore how the Treasure Valley Dave team works with you remotely and the builder here. So even if you can’t be here for some or all of the process, we help you and keep you informed throughout the process.
There’s a lot to go over so let’s get started on the highlights of this episode; Which?
Pro Tip: Scroll down to the video below where Mareen and I explore what this episode is all about.
EPISODE 5 - WHICH
Which building option is right for me?
- Last episode we talked about the timing of different kinds of new construction; custom, semi-custom and spec homes.
- Besides timing, other important considerations is the “quality” of your new-construction home and, key to that consideration, your budget comfort level (which we talked about in Episode 3).
Which level of quality is right for you?
Google generally defines quality levels in three categories…
- Basic/Low: Products or services that are functional but lack premium features or high-level craftsmanship.
- Medium: Products that meet expectations and are generally reliable.
- High/Best: Products that exceed expectations in terms of performance, durability, or features.
- Custom Build
- The quality here is expected to be High/Best (premium features and high-level craftsmanship) but it is up to you and is a balance of your desires, your budget and the capability of the builder you chose.
- The higher the quality, the more demand on your budget.
- Interview several builders and look at examples of their work.
- You may have to buy your own lot separate from the build process or the builder may already have lots that can be built on.
- Have financing lined up for the lot purchase, deposits and draws (payments) to release for construction milestones.
- Be prepared to spend the time for involvement and decision-making for planning, design and oversight.
Builders of High/Best quality Custom Homes include…
Pros and Cons of High/Best quality Custom Homes
Pros:
- You get the exact quality and features that you want.
Cons:
- Will be more demanding on your budget.
- Build time will likely take longer.
- Semi-Custom Build
- The quality level here is typically somewhere between Medium (meets expectations) and High/Best (exceeds expectations).
- Things to know when considering a semi-custom builder…
- Location; does the builder build where you want your home.
- Different communities have different build-quality levels; the same builder may build a medium quality home in one place and a higher quality home in another.
- Several semi-custom builders also build spec homes; you may find a spec home already built that satisfies your requirement for build quality, features, location, etc.
- How do the build and contract terms work out for you; price, upgrades, lender requirements, contingency requirements, build time, etc.
Builders of Medium quality Semi-Custom Homes include…
Pros and Cons of Medium quality Semi-Custom Homes
Pros:
- Semi-custom yet still production builders (keeps some costs lower).
- May build spec homes too (which might fit your needs).
- Typically lower price.
- Examples of previous builds to see.
- Often has good builder incentives.
- Upgrades can put the build firmly in better-than-Medium quality.
Cons:
- Even with upgrades, will still be similar to many other houses.
- Upgrades can add up.
Builders of High/Best quality Semi-Custom Homes include…
Pros and Cons of High/Best quality Semi-Custom Homes
Pros:
- Semi-custom yet still production builders (keeps some costs lower).
- May build spec homes too (which might fit your needs).
- Better fixtures and finishes included.
- Desirable upgrades may already be included.
- May have builder incentives.
- Can very much feel like a higher quality home.
Cons:
- Build time may be longer.
- May be less flexible on buyer’s contingencies.
- Spec Home Build
- The quality of a spec home can be Basic/Low (functional but lacks premium features or high-level craftsmanship) to Medium (meets expectations and are generally reliable).
- Quality levels depend on the builder’s focus (entry-level homes, higher-end homes) and the community requirements where the home is located.
- These are homes where the builder chooses the layout, the look, the colors and fixtures and the lot that the home is on.
- Some semi-custom builders also build spec homes while other builders only build spec homes.
Builders of Medium quality Spec Homes include…
Builders of Basic/Low quality Spec Homes include…
Pros and Cons of the quality of Spec Homes
Pros:
- The quality level of Basic/Low does not mean a substandard house; it means more basic construction materials are used, production construction methods employed, and homes and/or lots may be smaller… but the house is a good, solid home at the most affordable price possible.
- You can see the exact home you are considering to buy.
- You see the exact quality before you decide to buy.
- Closing on the transaction is quick; typically within 2 to 4 weeks.
- Often there are builder incentives.
Cons:
- The home you get is exactly as you see it.
- There are no changes made to the house by the builder.
- You can make changes after closing.
- Sometimes the builder incentives may be used to install landscaping, fencing, blinds or appliances before closing.
NEXT EPISODE: Choose Your Builder, Home and Lot
Treasure Valley Dave's Thoughts
Thanks for checking out this episode of Buying a New Construction Home. All of the episodes are very helpful… but your circumstances may bring up other questions not answered here.
Mareen and I are here to answer your questions… maybe just general questions for sometime down the road OR maybe you’re ready to get things moving this week! We are here to get you good information, provide advice and help you achieve your goals.
So, just call, text, email or smash that Contact Us button and let’s get connected! Maybe we can do lunch too! 
