Are custom homes worth the trouble?

A custom home is perfect for you if you want to make your own dream house from scratch. We are all aware of the fact that custom homes are associated with extra cost and time. But in the end, it all boils down to one question: is it worth it? Is the custom home worth the trouble? 

One of the key deciding factors is the size of the house. This would be the most significant decision after you decide that you want a custom home. 

Types of homes 

Homes can be categorized into two types:

• Custom homes 
• Production homes

Custom homes are built on the buyer's land—builder, and the owner work on the floorplan of the custom home. Production homes, on the other hand, make as part of the home community. With production houses, you will get to choose the floorplan from the options given to you. The customization options in these houses are significantly less as compared to the custom homes. So are custom homes better than production houses? To know this, let us look at the pros and cons of building a custom home.

Here are some of the advantages of custom homes:

• More customization will mean lesser future expenses 

While building a custom house, you will have an endless option of customization. From designing the floorplan to adding amenities of your choice, you will have plenty of opportunities to make your own dream home perfect. 

You will have the upper hand in planning each element of your house, from the backyard pool to the floorplan's depth. 

Another great advantage of customization is that you can mix and match whatever you want. How about a modern living room and contemporary kitchen? You can get anything you want in your custom home!

• No over the top expenses with custom homes

One of the significant differences between production and custom homes is the cost per square foot. You will get more flexibility with the custom home, and thus you will have to pay a higher price for that. More customization will mean more price. 

But what constitutes these costs? It includes the cost of hiring the builder, land surveyors, interior designers, and purchasing your land. Yes, you have to buy your land. There is no escape from that. However, you will have a fair idea of all the costs that you'll have to incur. There will be no unforeseen costs. 

• Your custom home will be one of a kind and will be very different from others. The designer will customize the house according to your taste, making it unique. 
• The functionality and quality of the custom home will meet all your needs and requirements. 
• You can decide on the location of your customized home.

Let us now look at the cons of custom homes. 

Disadvantages of building the custom home

• Without any second thoughts, custom homes are costly to produce. 
• With a custom home, the builder cannot buy the supplies in bulk, which makes the supplies expensive. 
• You will have to go through the hassle of purchasing your land.

It takes 7.7 months on average to build a custom home.

You have to incur the expenses of hiring a designer, builder, architect, etc. 

The rate of depreciation is faster on custom homes as compared to production houses. 

Getting home appraised for the entire cost is difficult. Banks do not grant a loan for the total amount required to build a custom home. 

Questions that you must ask yourself :

Here is a list of questions that you must ask yourself before making the final decision:

• Will you be able to invest your time into this project? 
• Does your budget allow you to build a custom home?
• How much personalization do you need? 
• Will you be able to get the loan from the bank? 

You should be able to decide once you will answer these questions.  

The bottom line

The final decision for building a custom house depends on various factors. Your personal choice and budget is something that you must consider while deciding. Moreover, keep in mind that building a custom house is a time-intensive process. Take your time to study all the available options and then make the right decision.