When it comes to choosing a residential property, there are three main categories to choose from, i.e. custom, tract, and production. Once you know the major differences between these options, it will become easier for you to choose the right suitable home. The more aspects you take into account, the better decision you will be able to make.
Here are a few attributes of each kind of home mentioned to help you understand the difference between them.
- Custom Homes
A custom home is one of its kind that has luxury features and unique design. It depends upon you what kind of home you want to build. You can pick and choose every major to minor detail of your home to make sure that it matches your lifestyle. For instance, if you expect to receive a lot of guests in your home, you can add a larger living room in your home. So, there are a lot of possibilities that can help you build a dream home.
However, it comes with various responsibilities and hidden costs in the long run. As a homeowner, you will have the flexibility of making every decision. But you will have to pay the price for that by investing additional time and money. You get a chance to choose your neighbourhood as well when you opt for custom homes.
- Tract Homes
Tract homes are those that are built together on a tract of land that is subdivided into small lots. When you choose a tract home, you cannot make any major changes to it. The major drawback of having a tract home is that all of them have the same design and material. However, tract builders try to keep up with current demand. So, it is highly likely that you are going to find a perfect area, neighbourhood, and design for your home.
Moreover, it is the most inexpensive option which is ideal for those who are not willing to spend a larger amount of money and time in buying a new home. But you might have to compromise on the quality of the features when you choose tract homes. Also, the resale value of tract homes will be low as compared to other types of homes.
- Production Homes
Customizable production homes are popular homeowners’ choice nowadays. It is best for those who want to build a new house by spending less money. You can choose a plan and then customize it in various ways. You can also make the most of design choices by pick and choose your floor plan, cabinets, countertops, appliances, and a lot of other components. Moreover, production homes take less time to build than completely customized homes. So, if you don’t want to take the stress of everything, you can go for production homes as there might be very few surprises in the process. You can also take the tour of model homes developed by the builders to have a clear idea about the end product.