Whether you are searching for a home plan to build or you are already working with a builder to build your new custom home, the words standard features, may come up throughout your building experience. So what are standard features and how does it relate to your building project?
Most builders offer a set of standard features, which are inclusive features when it comes to the beginning sales price of your new home. In order to properly set a sales price the builder must set certain standards to know the cost, and at what price it should be sold based on this cost. Understanding these standard features may help eliminate any frustrations throughout the process.
Consider all the variables that are involved with building a home. Ceramic tile could be $5 per square foot, or it could be $30 per square foot, depending on the type of tile, size, color, etc. Lighting could be brushed nickel, oil rubbed bronze, contemporary or traditional in style. Flooring could include engineered hardwood, solid hardwood, laminate, etc. Without having a starting point it would not be possible for a builder to understand the cost associated with the house. At that point everything would have to be custom priced, and it would be hard to market to their customers.
Take some time to fully understand the product that is built into the price of your home. Identify any gray areas with your builder to make sure you have a complete understanding of these features. Many times a builder may include an allowance for cabinetry or counter tops, and simply say that maple cabinets with granite tops are standard. If you know much about cabinets and granite you also know that this cost could vary greatly. Identify which maple cabinet and what grade of granite is included with your sales price. At that point you may choose to pay additional to make an upgrade, or perhaps you like laminate tops and would want to take a credit for not using granite. If you know the inclusions it helps to make sure you are pleased with the product, and also helps to understand where you may have a chance for cost savings.
Many reputable builders try to align their standard features with the particular area they build. If granite and hardwood are common in the “normal” new home, they try to align so there is no unnecessary confusion. In some instances builders are strictly using a mild form of deception by pricing their product under the market norm, as a way to get you in the door and on a contract. Be aware of this technique and make sure the contract comes after you have a good understanding of what your home will include.
For more information about this topic and how it applies to your new custom home, contact us at AmericasHomePlace.com