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Congratulations on picking to build a new home! It’s always exciting to watch the progress of construction unfold. The two main types of builders are production and custom.  Knowing how they differ will make picking one simple indeed.

From the name, you probably already know the specifications of a custom builder.. Often this nature of builder will work with a buyer with more expensive tastes.  They often work on home plans that must be completed to unique specifications.. In this case, the dream home is usually built on property already owned by the buyer.. Some custom home builders will build according to the buyer’s plans on land that the builder owns, but ultimately the land and the home are transferred to the buyer. Whether he is working off of an architect’s design, or contributing his own ideas, a custom home builder can offer a lot of insight. Homes built in this fashion are usually meant for a single family. Each home put together takes time and effort because it is so unique.  That’s one of the reasons why only a few dozen are constructed by a custom builder each year.

Regardless of whether you are in the Conifer colorado market, the Billings homes market, or the Colorado real estate market, it’s pretty much the same issue — An architectural review board or a property owner’s association are two places to find quality custom home builders.. Start by chatting with your township zoning department.  They will know who you should contact next. As a general rule, a homebuilder’s association is likely to have a listing of custom home builders in good standing.. Talk to other professionals involved in the process-realtor, lender, lawyer, or contractors you’ve dealt with previously.

After you found a few custom builders that might meet your needs, make a few calls and set up some meetings. Throughout the interview, each custom builder should give you a good impression of their business practices.. The custom home builder’s staff should always treat you courteously.. Be sure to get references, either from former clients, suppliers, or area financial institutions. It is important to show the builder the design you have in mind.

Be sure to inquire about hsi past legal problems, if any.. You should also ask him how he handles amendments to contracts such as change orders. (Tip: Make every effort not to change your plans once he’s begun, because one change can affect another.) Make certain that the cost of design and building is included in the price.. You should certainly ask as to how prices will be presented to you. should also show you how pricing will be presented to you as a client.]. With all these questions, the conversation between you and the custom builder should still be relaxed and enjoyable..

Besides the custom route, there is always the possibility of building a home as part of an advertised development.. This type of house is most often constructed by production builders.. These types of builders will often use land that they own, or be hired to use another’s land for development purposes. These homes can vary greatly in price.. The production home builder uses a set of designated plans to populate the construction needs of the development. In most cases the builder will provide a margin or leeway for changes or provide you with a set of options.. Production builders often construct more houses than custom home builders, sometimes the difference is doubled.Just as with the custom builder, you can check with the local homebuilders association as well as the Better Business Bureau with questions about the production home builder’s reputation. Remember, just because the geographic location is ideal, doesn’t mean your production home builder will be the same.  Do your homework.

If you chose your home plan based on a model, be sure the builder tells you what is optional and what is included.  That way, the cost of those geniune hardwood floors won’t be a surprise.

As a informed buyer, you also need to know what direction your home will be facing, how close other houses will be, and what the cost of the home owner’s fee will be.It is valuable to know the timeframe for the construction of your home.  Don’t forget that even though the production builder constructs many homes, for you, one home is the most crucial.  No matter which nature of builder you choose, you should feel like your needs are in the forefront of their thoughts.

If you are thinking about buying a new home from a builder, here’s a different idea to help save you some money when purchasing a new home. People like to compare the best value when shopping, and take advantage of money-saving offers, so why not do the same with a home purchase?

Some home builders are offering what is called a broker co-op, which is a sales commission offered to a real estate agent as an incentive to show clients their new homes. The real estate sales commission may range from 3% to 4% of the home sales price.

Many real estate agents are now offering to share their commission with their home buyer clients. Before making an offer to buy a new home, a buyer can make an agreement with an agent to represent them, in exchange for a share of the commission paid by the home builder.

The amount of money a buyer can save depends on the share of the commission, which is negotiable with the agent, and the sales price of the home. For example, buying a new home with a sales price of $500,000, with a 1 1/2% share, would save the buyer $7,500.

The buyer can receive a check at the close of escrow, or the money may be applied to the down payment or closing costs, providing there are no restrictions from the mortgage lender, or state laws that regulate real estate transactions.

Most new home builders don’t usually advertise a broker co-op offering, so the buyer, or the buyer’s agent would have to ask. The home builder may have a requirement for the buyer’s agent to be with them when visiting the office, or signing paperwork to buy a new home, so be sure to clarify the rules. A little time spent on research could mean a lot of money saved on your real estate transaction.

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