Before we get any further, it's important to decide if building your home vs buying an existing home is the right choice for you. There are few factors that can determine this, so answer these questions below to help you decide:
How soon do you need to move into a new home? If your answer is ASAP or anywhere between less than 3-6 months, new construction may not be the best option for you. It’s important to take into consideration that building a new home takes time, usually 6 months on average.
Do you like to work on home projects and take a hands-on approach? If your answer is no, new construction might be a great fit. With everything brand new, you won’t have to worry about putting on your tool belt and completing any fixer-upper duties.
Are you looking for something specific? If your answer is yes, new construction may be a great option. You’re able to build something that fits your needs and desires that you can truly customize and make your own.
So you've decided you want your home built new, now you need to figure out who is actually going to build it. When you're deciding on a home builder, some important questions to discuss with a potential builder are as follows:
How many years have you been in the business?
How many homes have you built? (If they have previous models, ask if you can view them in person!)
Do you offer a new home warranty?
Do you only build from existing floor plans?
What are the standard features in your homes?
What are the upgrade options?
How long will it take to build my home?
What does the process look like?
When will the final cost of my home be determined?
Once you narrow down who your builder will be, the next step in the process is selecting your options and finishes (this can be the most exciting part!)
In a custom build, you have the ability to select every finish, from the roof shingles, to the wall texture, the lighting fixtures, and even the colour of the window frames. There are definitely a lot of options which is why it's important to invest some time prior to the process and consider/envision what you would like in your dream home. Maybe even start a Pinterest board!
In a planned development, you usually have option levels to choose from, the scope of which depends upon the price point of the home or development.
You may also be able to downgrade any of these items. You will need to discuss with your builder how changes to their option packages will affect your sales price.
Fast forward roughly 6 months, you're almost ready to move in! The final phase is preparing to close.
You are permitted a final walk through where you are finally able to see all of your choices and finishes together in your new home. You are able to test all appliances, make sure all cupboard doors close properly, and make sure everything is in working order. If anything arises during the walk through, you can make note of these discrepancies and the builder will resolve them.
Then you’re ready to move in, unpack, decorate, settle in, and make many memories in your new home!