These types of homes do not require any customization and are purchased with the intent to remain in its original condition. The main advantage to choosing one of these homes rather than other types is the price.
Tract homes are listed on the market at an overall lower price per square foot and this is because the main floor plans are very similar and popular to its neighboring tract homes. Because the floor plans are very popular and often repetitive, the resale value on these types of homes is the main disadvantage. Since most tract homes look similar, they have very large competition.
These homes allow for elementary customizations to be made, but not large renovations. The main advantage to these homes is that they are a safer investment because you can generally see what you are purchasing right in front of you. These homes usually have a completed main construction plan. That being said, the main disadvantage to purchasing these homes is that they are basically another builder’s ideas of what your house should look like; although, you may still have the option to choose the paint color, cabinets, tile, etc. Also included as a disadvantage, is the fact that there may be features included in the home that you may not want but are already figured into the overall pricing of the home.
These homes are completely customizable but the home-buyer and they typically control every element that goes in to renovating the house. The main advantage to custom homes is that the location and floor plans of the house are chosen by the home-buyer and agreed with but he builder. the buyer generally is the main source of input about the design of the house, including the number and size of the rooms. Another advantage is that the price is usually determined at the start, so the buyer can be aware of the bill they are contributing.
On the other hand, the main disadvantage to these types of homes is the uncertainty. Although the customer enters the deal knowing what they want their house to look like and the price they want to pay in order to receive their house as they want it, there is still the question about which builder to contract onto the job. All builders are different and finding the right builder to get the house into the right condition, to stay within the correct budget, and to finish the house in the correct amount of time may be very difficult.