Once you’ve decided on a floor plan for your production build house, the next steps are deciding which options you want. Every production build house has various options you can choose from to upgrade your new home and make it unique and special to you. How do you decide which options to choose? Where do you spend your money? What will get you the most resale value?
Most production builders go through the following process – which is the process we followed. You will have three sets of options to decide on.
The first set of options is structural options on the house itself.
These typically include exterior designs (called elevations), finished basements, bump outs, additional rooms, or changes to floor plans in the kitchen or bathroom.
The second set of options is the design options.
This is where you pick interior things such as cabinets, fixtures, flooring, tile and other items like that.
The last set of options is typically related to electrical and / or cable wiring.
Do you want more outlets, cable drops in every room, a phone hook up in your kitchen?
This is how production builders get your money. Much like a car dealer who shows the most expensive car on the commercial and then tells you the lease price is only $199 on the base model, the production builders typically show the demo home with many of the upgrades. That base price of $300,000 can quickly balloon much higher if you don’t follow a strict budget and plan for what you want.
In addition, many times, the builders hide design prices from you until you lock in the sale of the home. A quick google search on design center prices for the biggest builders in our nation returns only results of people complaining they can’t find anything online. How can you budget for something when you have no idea what anything costs?
The process is definitely not in favor of the home buyer, but we’re here to walk you through it in the new few steps of this process. I even have a spreadsheet that I’ll walk you through to help you get through it with your sanity in check! To use this spreadsheet yourself, just download or copy to your own drive. Any of the grey cells have formulas in them.
The first step to this process is figuring out how much you’re willing to pay for this house. Do you have yours? John and I figured out a budget of $350,000 for the completed home. Over the next four blog posts, you’ll get to see how closely we stuck to it!