Can’t find what you’re looking for in the current market? Have you thought about building your own home? There are 3 primary types of residential homebuilders- Custom, Spec and Tract.
Custom homebuilders can turn your specific dream home into a reality. Here the buyer has complete control over the floor plan and all other details. As with any product, customization comes with increased cost, so they are not as frequent of an option for first-time homebuyers. Because each house is unique, most custom builders also limit their workload and have a minimum size and minimum sales price for each build. Typically, they have slower construction timelines and buyers need to qualify for specialty financing, such as a construction loan or pay cash. Traditional home loans such as conventional, FHA, USDA and VA will not be an option. Although, it is RARE, some lenders offer VA construction loans.
Spec homebuilders
While some of their homes may have the same general layout, spec builders have more flexibility in style, so they offer some of the unique design benefits of custom homebuilders without the heavy price tag. These builders often purchase a parcel of land and build a few at a time. Often times, they can be somewhat flexible on price if the home has sat on the market for a while.
Tract homebuilders
Builders buy large tracts of land and build subdivisions that offer a choice of limited floorplans. While the buyer has little say over the home design other than the basic floor plan, tract homes are often less expensive (per square foot), quicker build times and are considerably more affordable. While you do not need a REALTOR® to contract with a builder on a home, remember that the builder representative works for the builder with the builders interest in mind. It doesn’t cost you ANY more to have a licensed REALTOR® work and represent your best interests!
We work with all types of home builders throughout the Dallas area on a regular basis and are happy to answer your questions if you have them!
See below for trusted builders we partner with to give you the best new home building experience possible. With different types of homebuilders offering varying benefits, no matter what stage of life you’re in, there is a builder out there for you.
