Exploring What is a custom built Home: A Guide

Do you want a home that reflects your personality and lifestyle down to the smallest detail? A custom-built home can do that for you. If you're searching for a home in the Lincoln, Nebraska, area and can't find that perfect fit, it might be time to partner with Murray Custom Homes.

What is a custom-built home? Unlike pre-existing homes or those with limited customization options, a custom-built home is designed from scratch to match your vision. You control every aspect, from the floorplan to the finishing touches.

We'll look into what custom homes are, their benefits, and why Murray Custom Homes is your ideal partner for creating the home of your dreams in the Lincoln area.

Why Choose a Custom-Built Home?

A custom-built home is an expression of you. Unlike existing homes, you dictate the floor plan, room sizes, architectural features, and interior finishes. When you build custom, you choose the quality of materials and the workmanship that goes into your home. 

You can also design your custom home using energy efficiency. From insulation and window placement to appliances, you can reduce your environmental footprint and save money on energy bills. Custom homes often appreciate better than spec homes due to their quality construction.

Custom vs. Semi-custom vs. Spec Homes

When building a new home, you often have three main options: custom homes, semi-custom homes, and spec homes. Each of these options presents a different level of customization and involvement in the construction process.

What is a custom-built home and how does it differ from semi-custom and spec homes? A custom-built home is the most hands-on option that involves the homeowner in every phase of the construction process. From selecting the floor plan to choosing the finishes and fixtures, custom homes offer a high degree of personalization and control over the design elements.

On the other hand, semi-custom homes allow homeowners to personalize select phases of the building process. While semi-custom homes offer some flexibility in design choices, they have predefined floor plans and options for customization.

Spec homes, also known as speculative homes, are the least custom option available to homebuyers. These homes are built by developers based on general market trends and may lack the personalization and features of custom-built and semi-custom homes.

Benefits of Custom Homes

Personalized Design

With a custom-built home, you become the designer. Choose your floor plan, finishes, and fixtures to create a space that perfectly reflects your lifestyle and personality. Unlike pre-existing homes, a custom build offers unlimited potential for personalization. You can make your home a reflection of your style.

Quality Craftsmanship

A custom-built home allows homeowners to work closely with their builders to ensure the highest quality construction. Unlike pre-built homes that prioritize speed and cost-cutting measures, a custom-built home emphasizes attention to detail, using high-quality materials and innovative building techniques.

Energy Efficiency and Sustainability

Custom homes can be designed to be energy-efficient and environmentally friendly. As an eco-conscious investment, custom-built homes can incorporate green building practices, such as solar panels or rainwater harvesting, for long-term sustainability while reducing energy bills.

Long-Term Investment

Building a custom home is a valuable long-term investment. Investing in a custom-built home provides long-term value as they have a higher resale value than pre-built homes. Additionally, homeowners can enjoy their dream home for many years.

Designing Your Dream Custom Home

Building a custom home isn't a solo project; it's a partnership between you and custom home builders. At Murray Custom Homes, we’ll guide you through each phase of the building process. Whether you are in Lincoln, Nebraska, or within our 50-mile radius of service, we are here to bring your vision to life.

Plan Your Design

The first step in designing your dream custom home is to collaborate with architects and designers. They will work closely with you to understand your vision and translate it into detailed blueprints. During this stage, your input shapes every aspect of the design, from room configurations to architectural flourishes. Together, we will create a design that reflects your lifestyle.

Site Selection

We help you find the perfect plot of land to bring your custom home to life. We consider factors like size, topography, accessibility, and zoning regulations, ensuring your building site seamlessly supports your home's design and lifestyle needs.

Financing Options for Custom Home Construction

When it comes to financing custom home construction, there are a few common options that homeowners can explore. These options include construction loans, home equity loans, and mortgages. 

Construction Loans

A construction loan is a type of loan that provides funding for the building of a new home. It is different from a traditional mortgage because it is intended for the construction phase rather than the long-term financing of the completed home.

During the construction phase, the lender disburses the funds to the builder in installments as the project progresses. These disbursements, known as "draws," are usually based on the completion of specific milestones or stages of construction. Once the construction is complete, the loan can be converted into a traditional mortgage, allowing you to pay off the balance over a longer term.

Home Equity Loans

A viable alternative for financing custom home construction is through a home equity loan. This type of loan allows homeowners to borrow funds based on the equity accumulated in their homes. Equity is the disparity between the current market value of your home and the remaining mortgage balance.

By obtaining a home equity loan, you can access a lump sum amount equivalent to the equity in your property. This loan is secured by the value of your home, which often results in lower interest rates compared to other loan options. You can use the funds acquired from a home equity loan to finance the construction of your custom home.

Mortgages

A traditional mortgage is another option to consider when financing the construction of your custom home. It is a long-term loan that allows homeowners to spread out the cost of their home purchase over several years, typically 15, 20, or 30 years.

To finance the construction of your custom home using a mortgage, you would need to secure a "construction-to-permanent" loan. This type of loan combines both the construction phase and the long-term financing of the completed home into one loan. The lender disburses the funds in installments during the construction phase, and once the construction is complete, the loan is converted into a traditional mortgage.

Comparing Custom Homes With Other Housing Scenarios

Ownership

Owning a custom-built home means that you have full control over the property and can make modifications, renovations, and design choices to suit your preferences. In contrast, apartments and rental properties come with limitations on customization and may subject you to the regulations and policies of landlords.

Customization

A custom home offers personalized design. You can choose the layout and architectural details you want. On the other hand, apartments and rentals often come with standard layouts and limited customization options.

Custom Home Value Increases Over Time

Unlike renting or purchasing a pre-existing home, a custom-built home is entirely yours. No landlord restrictions limit your vision for renovations, updates, or additions.

Custom homes frequently see greater appreciation in value over time compared to many rental or pre-existing home scenarios. With Murray Custom Homes, you invest in quality construction and design, making your home a solid asset for years to come.

Advantages of Building a Custom Home Over Renting or Buying an Apartment

Custom homes are built with high-quality materials and superior craftsmanship, ensuring a durable and long-lasting living environment. In contrast, apartments and rentals may lack the same level of customization and attention to detail that comes with custom home construction.

Moreover, custom-built homes offer privacy and space that may be lacking in apartments or rentals. With customizable layouts, outdoor areas, and amenities, custom homes provide exclusivity and comfort that is hard to replicate in other housing scenarios.

Debunking Myths About Custom-Built Homes

Myth #1: "Custom homes are always too expensive"

Indeed, custom homes can sometimes have a higher initial price tag than some pre-existing or spec homes. However, with careful planning and Murray Custom Homes' expertise, you can achieve luxurious results within your budget. We help you prioritize the features most important to you while suggesting creative and cost-effective solutions.  

Additionally, the higher quality materials and superior craftsmanship of a custom home often translate to lower long-term maintenance costs and better resale value.

Myth #2: "Custom building takes too long"

The timeline of a custom home project can vary, but it doesn't have to be an endless process. At Murray Custom Homes, we establish clear timelines and maintain open communication throughout the building phases. Our project management skills keep everything on track, minimizing delays and guaranteeing a timely completion.

Myth #3: "Custom homes are too stressful"

Murray Custom Homes minimizes stress for our clients. We handle everything, from securing permits to coordinating with contractors. You'll have a dedicated point of contact, providing regular updates and guiding you through important decisions without feeling overwhelmed.

Custom Home Trends and Ideas

Architectural Trends

Clean lines, open spaces, and a focus on natural light are characteristic of contemporary and minimalist designs. These styles are simple and functional. Plus, they blend indoor and outdoor spaces well.

Open floor plans continue to be popular, allowing for a flexible and fluid use of space. This layout encourages social interaction, provides ample natural light, and creates a sense of spaciousness.

Homeowners are recently into covered patios, outdoor kitchens, and large windows that open up to outdoor areas.

Technology in Custom Homes

With smart home technology,  homeowners can control various systems and devices through their smartphones or voice commands. This includes features like automated lighting, thermostats, security systems, and entertainment systems.

Custom homes often feature integrated audio and video systems that provide connectivity throughout the house. This is great for multi-room audio, home theater setups, and distributed video content.

Multi-Generational Living and Flexible Spaces

Many custom homes have guest suites or accessory dwelling units (ADUs) for extended family members or rental opportunities. These separate living spaces provide privacy and independence for family members or potential income streams.

As remote work and virtual learning become more common, dedicated home offices or study areas are commonly found in custom homes. This ensures privacy and productivity for work or education-related activities.

Lastly, custom homes use multi-purpose rooms that can adapt to changing needs. These spaces can serve as playrooms, exercise rooms, or hobby areas, suitable for different activities.

Is a Custom-Built Home Right for You?

What is a custom-built home, you might ask? It is a personalized house. If the thought of choosing every detail—from cabinet styles to exterior stonework—excites you, a custom-built home is a perfect fit.

Don't settle for a home that's 'almost right' when you can create one that is completely yours. Get in touch with custom home builders like Murray Custom Homes to start planning your dream house.