How To Save On a True Custom Built Home

 - Not All Custom Built Homes Are Custom Built

Custom homes are great.  They're not tract homes.  You know when you go into your neighbor's home you are not going to mistake it for your own.  They have unique features for families that want to experience a better lifestyle.  They are generally built with a little more land and in some cases are built specifically to take advantage of the individual characteristics of the topography.  They also run significantly more money than you might find from major mass builders. 

Custom built homes have catchy adjectives such as, Artisan, Craftsman,  Cape Cod, Carriage, Colonial, French, Mediterranean, etc.  You not only get a "craftsman" home but you generally get a home built in a style that indicates "money."

There are individual builders that specialize in custom homes.  Builders may build on spec and then hope to sell the home and make enough money to go on to their next custom spec home.  They will have the latest features and fixtures and enough unique characteristics to justify the higher price.  Most of the spec homes are built to ready- made plans.  Custom homes built on contract for a specific owner will more likely come from custom plans from the owner's personal architect.  

Here's the challenge of buying a custom built home.  If you buy a custom built spec home - are you really getting your money's worth?  After all, the spec builder,  isn't in the building business for fun.  The builder needs to not only make a margin on his labor but the materials as well.  The features you will get on a spec built custom home are the items that visually stand out.  High-end stainless steel kitchen appliances, granite counter tops, high-end cabinets and bathrooms with top flight fixtures along with some type of stone shower.  But it's difficult to tell if corners were cut on the structural part of the home.  You would almost have to x-ray the entire home to see what is not visible and even then you would not see it all. 

On the other hand - if you're building from your architect's custom design, I can assure you that as the building process moves on, you will be adding enhancements that can quickly drive up costs.  Your $700K home now has a finished price tag of over $1M.  But it will be your home, built the way you want.   You know the true quality of your home because you've been there with the builder every step of the way.  It's great.  You plan to live there the rest of your life - right?

I love owner built custom homes.  No expense is spared and the thoughts that go into these homes set them apart. 

Buyer's Opportunity

If you are looking for a custom built home and can find one that is owner built, I can almost guarantee you that no matter what you pay for the home you are going to get a good deal.  When the owner of a owner built custom home finds out they need to sell, they rarely get out of the home what they have painstakingly put into it.  Remember - the home was built with the intention of the owners living there the rest of their lives.

Here's an example of a home I looked at over the weekend.  John and Cherie built their dream home on a 2 acre parcel with a view of the ocean.  They had their 3 plus, car garage built first with a "granny" unit built over the garage so they would be on site as their new home was being built.

From the exterior of the home it looks like a nice home but nothing immediately stands out other than the location.  It sits on 2 acres with an ocean view about 10 to 15 minutes from Mendocino on the Northern California Coast.  It's not right on the ocean so you don't need to worry about erosion, it sits far enough back so on many foggy days you are left in the sun.

John and Cherie now find they need to move from the area for personal reasons and leave the home built "for the rest of their lives."   Are they ever going to get out of this home what they have into it?  No.

This home has radiant floor heating throughout the house - including the shower.  No more cold feet.  The master suite was designed so the king bed can be placed on any of 3 walls with recessed lighting located to provide just the amount of light for each side of the bed no matter what wall the bed is placed against.  The kitchen appliances are Dacor.  An inexpensive Dacor range can run well over $4,000.  The exterior siding is Trex and was custom manufactured for John and Cherie with the redwood color impregnated during the manufacturing process.  It's "green" and will last for a 100 years if not more.  No "every 2 year" exterior painting required, no need to worry about termites in the siding.  Was it more expensive than redwood siding?  You bet.  But - it will last longer than redwood and you have saved a couple of trees.  

I'm sorry to see John and Cherie leaving the area.  They are nice people and they are leaving their dream home that they have spent a lot of money on to get just the way they wanted. 

For a buyer, John and Cherie's love that went into this home, will be the new owner's gain and the new owner will save a lot of money on this truly "custom" built home.