Types of New Construction Homes

The Triangle area of North Carolina (Raleigh/Durham/Chapel Hill) is experiencing a tremendous growth in population and because of this large influx of people, we have an extremely high demand for housing.  As we all know, inventory in the housing market is very low and the Triangle is no different.  Everyone is looking to the construction industry to help get us out of this housing inventory deficit.  New construction has had a rough go for the past 2 years with not only supply shortages but also qualified labor shortages as well.  They are starting to turn the corner and get a better foot hold on things but we still have a long way to go in order to get the housing inventory where it needs to be.  If you are shopping for a home and specifically looking for a new home, you need to know what the different options/situations are that you will run into in the Triangle real estate market.

Inventory Homes (Spec Homes)…….These are the homes that a builder is currently building or has already submitted the plans for in order to obtain the proper building permits for the construction project.  The builder has already picked out all the different selections for the home including colors, flooring, cabinets, countertops, hardware,..... A buyer interested in an inventory home is taking it as it is built with no option to customize it at all to their specifications (until after they purchase the home).  Inventory homes are easier and more cost effective to build for a builder and are by far the most common situation we are seeing right now in the market.

Semi Custom Home……This situation in purchasing a new construction home is what most homeowners are accustomed to.  In a Semi Custom home, you have a short list of structural options to choose from (if you catch the home early enough in the build process and get under contract).  Typically some of the options may include adding a fireplace or bumping a wall back to extend the family room to a larger size.  There could also be options like upgrading the kitchen from a standard finish to a “gourmet” kitchen with built in wall ovens.  Again, the options are limited but still a chance to customize your home within the parameters of the builder.  You may also have the option to make some cosmetic upgrades/choices such as flooring or countertops.  There are additional costs involved when adding these options/upgrades.

Custom Homes……This is very much just the way it sounds.  The buyer gets to pick out pretty much everything when it comes to the look of the home.  A buyer is choosing the exterior colors, finishes and even may have input on landscaping.  On the interior of the home, the buyer makes every selection from flooring and countertops to window styles and lighting fixtures.  Buyers typically sit down with the builder to pick out a floor plan and then may even make adjustments to that plan so the home fits any and every want/need of the buyer.  The custom home process can be overwhelming if a buyer is not prepared to make all the decisions needed but it can also be a ton of fun.  Custom homes do not get built overnight and will typically take 9-12 months to complete after building permits come back from the county permit office.  Custom homes are also typically the most expensive to build.

Are you looking for a new home?  Do you want a new construction home?  Our team at Kima Real Estate Group is ready to help you.  We have helped hundreds of clients with new homes and we are here to help you as well.  We know the new construction process inside and out and have great relationships with custom builders if that is the route you want to go.  Give us a call today and let us know how we can assist you in obtaining your dream home.  919-300-5421

Search all homes in the Triangle at chad.welcometocarolina.com.