Custom Homes Vs. Project Homes: What’s The Difference?

Introduction

Are you planning for a new home but are confused about making the right decision? In Australia, people are going for custom homes even with a smaller block. According to the Australian Bureau of Statistics, “Australians are building houses on smaller blocks: the average site area of new house approvals has decreased considerably over the last 10 calendar years.”

However, you have two main options while building or buying a home: custom-designed homes and Project homes. It’s entirely up to you and your preferences which one you choose, but it’s important to know the difference between the two.

As always, we can help you make the right decision by highlighting the different factors involved. Let’s dive deep quickly into all those factors to make the decision easier for you!

Custom Homes Vs. Project Homes

Each option comes with its own benefits and downsides, along with flexibilities and limitations. Here, we will break down all those points so you can gain enough confidence to make the right decision.

What are Custom Designed Homes?

A custom home is a true reflection of your imagination. As the name implies, the custom home is entirely built based on the needs and requirements of the homeowner. It is tailored according to your taste, use, and comfort. Custom home builders work with buyers from sketching to decoration to ensure they get their ideal home. That’s why custom homes are unique and elegant and only attract specific buyers.

However, before opting for a custom home, first consider its benefits and downsides:

Benefits of Custom Homes

• A Design that Tailored to Your Need

One of the best things custom homes offer is the flexibility of customisation from scratch to finish. It allows you to customise your home according to your lifestyle, comfort, and preferences.

• Freedom to Choose an Ideal Location

You cannot only have enough freedom in customisation but also be free to choose the ideal location for your home. You can go for a bustling urban setting, even desire a tranquil rural setting, or opt for a scenic coastal view. It’s all up to you and your taste.

• Ensures the Best Quality

When you are building everything under your control, you get the best quality in terms of material and making. It also ensures a long-lasting and durable home. So, if you can’t compromise on quality and design, a custom home is the best approach for you.

• Best Utilisation of Space

Interestingly, with a custom home, you can best decide on space utilisation. You can include a gym, a swimming pool, a game room, and even a private office space. Ensuring every area serves a purpose without wasting any space.

• Smart and Sustainable Building Practices

We live in a technological era, and everything has a tech touch. So, why not your home? A custom home gives you leverage to incorporate environment-friendly materials, smart systems, and energy-efficient applications. This not only saves resources in the long term but also saves money.

• Offers a Maximum Return on Investment

If you have to relocate and sell your home in the future, it would give you the maximum investment value. A uniquely designed home is highly attractive to potential buyers, ready to offer maximum investment value to the seller.

The Downside of Custom Homes

• More Value Comes with  More Expense

A custom home costs more than a spec home. This is due to the high cost of using high-quality materials, location costs, and customisation costs.

• You Might Have to Wait Longer

It’s important to remember that patience and persistence are essential during your custom home journey. Building a custom home can be disruptive to your life if you are time-sensitive, as it often takes a year or more to complete, depending on the specific construction details. However, the timeline really depends on the project’s size and complexity, so it’s something to consider when deciding to build a custom home.

What are Project Homes?

A spec home is the best option for a busy person who wants to avoid the above hassles and quickly needs a simple, ready-made home. This is why home builders offer spec homes for such buyers. They build Spec homes according to the market trends and their own judgement to fully meet the buyers’ needs and demands.

In spec homes, the builder controls the entire process, from purchasing land to finishing the design and selling it to buyers after completion. So, here, the homeowner does not have maximum input in the overall process. If the buyer buys it during construction, only then do they have some freedom in design and finishing.

Let’s reflect on its benefits and downsides quickly:

Benefits of Spec Homes

• Move In Quickly

Spec homes allow you to move in as quickly as you want. Usually, spec homes are completed or near completion, and you can buy according to your needs and requirements.

• Budget-Friendly 

Spec homes are available in different price ranges based on the house size, location, material, design, etc. So, you have many options and flexibility to pick the best one that fits your affordability.

• Time-Saving Option with No Stress

Getting a ready-made, simple, and elegant spec home saves time and avoids mental stress. In spec homes, the construction builder will handle all the hassles and stress, from selecting the location to purchasing land and giving the final touch. So you can save some time for a more valuable job.

• Less Chances of Unexpected Costs

With spec homes, you don’t have to worry about the hidden costs because what you see is what you get. This means you will get everything in the final package without additional cost, unlike custom homes, where unexpected expenses can arise during construction.

Conclusion

Choosing between a custom home and a project home ultimately depends on your individual needs, preferences, and circumstances. Custom homes offer unparalleled flexibility, quality, and personalisation, making them ideal for those who want a unique and tailored living space. On the other hand, project homes provide a more budget-friendly and time-efficient solution, perfect for those looking to move in quickly without the stress of managing the building process.

If you’re still unsure about which option is best for you, Fyffe Design is here to help. Our expert team can guide you through the process, ensuring you make the right choice for your lifestyle and budget.

Contact Fyffe Design today to start your home-building journey. Let’s create a space that you’ll love to call home!