Building a new home is exciting, but deciding between a custom or standard home can be daunting. You’ve probably heard of the benefits of building a custom home—you get to design the house of your dreams—but what about the drawbacks? This blog post will discuss the pros and cons of building a custom vs. standard home. By the end of this post, you’ll better grasp what you want and what’s best for you and your family.
Custom Homes: Pros
1. Complete Control: Building a custom home means designing and building every aspect of your home to your exact specifications, such as the number of rooms, windows, and storage spaces. If you love a specific style of architecture or want a specific type of flooring, you can make it happen. It is truly CUSTOM.
2. Personalization: A custom home allows you to add unique touches, such as a wine cellar, a home theatre, or a game room. You can create an open-concept floor plan, add bedrooms or bathrooms, or install a backyard pool or outdoor kitchen. You can even mix two different design ideas you like—this is how the Modern Farmhouse came about.
3. Investment: A custom home allows you to create your dream home, personalized to your taste. It’s also an excellent investment opportunity that offers long-term benefits such as higher resale value.
Custom Homes: Cons
1. Cost: Building a custom home has a high price tag. According to the National Association of Home Builders, the average custom home costs around $700,000, while a standard home costs around $300,000 (depending on your market area). Expect to budget for extra expenses such as architects, permits, and unexpected expenses that can add up. Moreover, customization means you’ll pay more for specific materials or features that aren’t already part of the standard home.
2. Time: Building a custom home takes around ten to twelve months or longer, depending on how many custom features you’re incorporating. The timeline depends on the weather, your contractor’s availability, and unforeseen difficulties. Construction can be stressful and time-consuming. However, choosing the right builder can help alleviate some of this stress and make it an enjoyable experience for all.
3. Tough Decision-Making: With so much control over your custom home comes decision fatigue. The more decisions you make, the harder it gets, and you might find yourself second-guessing your choices. You also need to remember that custom homes need long-term planning, so you can’t make impulsive decisions without considering how they’ll impact the overall home. This is where working with an experienced design-build firm is crucial to your success (read: 5 Advantages of Working with a Design-Build Firm).
Standard Homes: Pros
1. Affordability: Standard homes are considerably more affordable than custom homes. According to the National Association of Home Builders, the average price of standard homes is around $300,000, and market conditions vary. This cost can vary depending on the location, house size, and features you want. Standard homes can be a good investment option to get your foot in the homeownership door.
2. Speed: Standard homes take less time to build compared to custom homes. Depending on the builder and the pre-existing conditions of the proposed building site, a standard home can take at least 3 to 6 months to build. This timeline is much shorter compared to custom homes. Therefore, if you need to move into a home quickly, a standard home is a good option.
3. Custom Additions: You can still add custom features after buying a pre-construction standard home. You can hire a contractor to modify your home and add your desired features, such as a built-in entertainment center or a new home office. Remember that remodeling is messy and noisy and can be stressful if you are living in the home while the renovations are being done.
4. Size: The cost per square foot to build a standard home is typically less to maximize square footage while providing a lesser cost.
Standard Homes: Cons
1. Standard Homes: No customization: With a standard home, customization is very limited, if not nonexistent. You have to work with the house’s already-existing blueprint. You cannot add rooms like a custom home or personalize the design according to your taste. This lack of personalized design can be challenging for some homeowners.
2. Little Variation: Most standard homes use a generic blueprint, so the houses look similar. Every house in the neighborhood has a shared look, making it hard to stand out from the crowd.
3. Lower Resale Value: Standard homes have lower resale values than custom homes. The lack of personalization can affect their resale value, which decreases as the years go by. On the other hand, custom homes tend to hold onto their value and may even increase in value due to effective building techniques focusing on longevity and quality.
Final Thoughts
Deciding between a custom or standard home depends on your budget, taste, and timeline. Custom homes offer complete control and personalization but come with a higher price tag, longer build time, and tough decision-making. Standard homes are more affordable and have a faster build time, but they lack personalized design and variation. Whether you go with a custom or standard home, the goal should be to create a comfortable home that meets all your needs. We hope this blog post has provided enough information to help you make an informed decision.
Do you still have questions? Contact us for more information on the benefits of building a custom vs. standard home.