How to Choose Between Building in a Tract Built Neighborhood vs. Custom Building
Which homebuilding route is right for you and your family?
So, you’ve decided to build a home instead of buying an existing one. Great! You’ve already opted for benefits like less competition, newer appliances, and lower average renovation costs. However, there are various approaches to homebuilding you’ll need to choose from. Two of the most common are building in a tract built neighborhood, and custom building. We chatted with Madeline Stephens, Head of Sales at Atmos, to discuss a few key signs to look out for to determine which route is right for you.
Building in a Tract Built Neighborhood
Benefits
One of the benefits of buying a new construction home in a tract built neighborhood is the timeline. In many cases, these homes are completed more quickly than a custom home might be, or they may be available to buy much later in the building process, making your wait time substantially shorter.
In addition, when working with spec homes, buyers have the added benefit of not needing to finance the build themselves. Instead, they just have to close on it when it’s finished, and the builder holds the financing up until then.
Drawbacks
In some cases, tract and spec homes are lower in quality when compared to custom homes because they’re optimized for selling quickly. They are also not built to buyer specifications, which means buyers’ budgets go toward features that the builder saw fit to prioritize, not the features the buyer would have wanted most. So while you can get the home faster, eventually most buyers will go on to put more money into their new home to adapt it to their liking and fit the home with their priorities.
Best For…
For folks looking for a brand new home under about $500,000, buying a tract or spec home can be a great option. Likewise, this is a good option for people who don't want to hold the financing of a custom build while the home is in progress. Finally, buyers who are in a bit more of a hurry may be better served by a tract or spec home.
Custom Building
Benefits
When you build custom with Atmos, you get exactly the home you want. The task of prioritizing in order to fit your budget, tastes, and lifestyle stays with you, so there’s no risk of paying for upgrades you don’t value or grappling with remodeling to fit your lifestyle. When you build custom with Atmos, you get to choose everything from your light switches and fixtures to your countertops and cabinets to your door handles.
This way, everything is exactly the way you prefer it and you can make the call on how high-quality you want each aspect to be. You can opt for high end materials where it matters most to you, and save your budget on aspects that are less important to you. Ultimately, it’s about controlling where your money is going, and building your home with your priorities in mind.
For some, this degree of control over each and every detail of the home build can feel overwhelming. This is entirely normal, and that’s why Atmos assigns a helpful and dedicated Project Manager to each and every build. You’ll have as much or as little of a say in the fine details of your home build, and your Project Manager will help guide you through your choices and your budget strategy.
Additionally, building custom offers location flexibility that tract neighborhoods simply cannot. With a tract build, clients are locked into the neighborhood in progress. With a custom build, buyers can select their own lot in the area they truly want to live in.
Drawbacks
In some cases, building a custom home can take longer than opting for a home in a tract neighborhood; especially if the home you’re buying is already in progress. Building custom also requires the buyer to obtain financing early on.
Best For…
Buyers who know exactly what they want are best suited for a custom build. In many cases, people who opt to build custom are willing to wait a few extra months in order to move into their forever home.
Additionally, buyers with strong preferences about their location will be best served by a custom build. Atmos is prepared to help buyers find a lot in an existing neighborhood, or in an area where tract builds aren’t available.
Overall, if you know what you’re looking for in a home and you have a specific area where you’d love to live, custom building is likely the right option for you. With Atmos, you can be involved in as many or as few decisions as you’d like. Ready to build your dream home? Get started today!
