Production Builder- A builder who builds many of the same homes repeatedly
Advantages- Cost savings. Because they produce many homes they normally have lower costs including lot costs and labor. They buy in bulk and therefore get a better deal.
Disadvantages- You get what you get. Because they make money by streamlining processes, they don't work well with much customization.
Spec Home Builder- A builder who builds only a few homes a year to sell.
Advantages- You will probably meet the builder. They are more open to making changes
Disadvantages- Their cost savings is lower because they don't do the volume. but quality may be higher as their is more hands onBuild
Semi Custom- Taking existing floor plans and customizing them to your specifications
Advantages- You will work one on one with an employee of the company or the builder. Customization options are endless. Because the home has been built before the builder will have fewer surprises during construction. becaue it is an existing plan your design costs will be less.
Disadvantages- Semi custom is semi so your neighbor could have something very similiar. While it can be less expensive, many times it may be worth looking at custom construction.
Custom Construction- taking a home concept and turning it into drawings and then building it
Advantages- It is your home exactly as you design it. While many think of custom homes as higher end homes, it is not necessarily true. A custom home can be as small and as little cost as you would like.
Disadvantages- It takes a lot of work and time on your part because everything is selected by you. While custom homes take more time to build, there is also mor opprotunity to make changes as the home owner sees elements they woudl like to add or change.