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Does anyone have experience with building a custom home?
2012 Nov 17, 4:46pm 79,180 views 170 comments
by nope follow (0)
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I've looked at pre fab. It's amazing what modern tech can do, and frankly I'm shocked that it hasn't become standard for typical cookie cutter houses, especially in cold and wet parts of the country.
Really though, pre-fab isn't meaningfully cheaper than a custom build other than the lack of architect's fees. $200+/sf with crappy finishes isn't exactly what I'd call a great deal.
Hello Kevin,
I worked with an Architect builder 12 years ago and built an absolutely amazing ULTRA modern home. It was even on HG TV after it was built. I absolutely loved the experience and the results were breathtaking. Unfortunately, we moved out after 5 years because I accepted a job out of the USA. But it was awesome living there for the 5 years and I will take these memories with me till I die.
Obviously a lot to think about.
I would hold off buying a lot until you figure out first what type of home you wish to build and then have the architect/builder sign off on your lot choice before you purchase.
Make sure your contract spells EVERYTHING out.
At all costs, try to think of EVERYTHING you want in the home before signing on the dotted line. CHANGE ORDERS will send your budget into the crapper VERY quickly. I did have some change orders as everyone does but I could have done a better job thinking this through...e.g. I added about 20 windows, upgraded finishes, etc. This could have been done before I signed the initial contract.
Lastly, make sure the architect/builder finishes EVERYTHING that they are contractually obligated to do before you send them the final check or go to closing. Once money is in hand, they will be off and running to their next project.
Oh, and YES, it was worth it. No one on the planet had a house like mine. I built this home in a very conservative part of the country and everyone warned me that I would not be able to sell it. I ignored them because living in something I loved was more important to me than resale.
Surprisingly, when I did put the house on the market I had people lining up to purchase. I probably sold too cheap and too soon but the house sold in 3 days in a down/flat market. All this in a city over populated with traditional architecture.
Follow your dreams.
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I've decided that since I have to live out in the 'burbs anyway, I might as well live in the perfect house. 9 out of 10 builders around here just slap together the same old generic qasi-craftsman style homes with awful layouts and pointless features like tiny unusable porches and formal living rooms.
We have a crap ton of money and I'm overpaid.
We're looking to buy a few acres of land and then spend ~$800k to build the thing (architecture, land prep, construction, etc.)
Does anyone have experience with having a custom home built (particularly modern design; no shingles or crown molding here)? Was it worth it compared to what you could have bought for the same amount of money? How was the financing?