Buying or constructing a house of your own can be a tricky business. You must exhaust all your options before placing your money in a deal. The contemporary age of customization offers a range of options for dealing in real estate. Nowadays, the two most sought-after approaches to construction are turnkey and design and build construction.
The end result of both these approaches is the same. You get your desired home. However, both approaches take on a different path to reach the destination. Let us see how the turnkey approach differs from design and build.
Turnkey Home
A turnkey or turn-in-the-key home is a move-in-ready home. It is a fully constructed and furnished home that is ready to be occupied. A turnkey home includes all household necessities such as furniture, carpets, and blinds, etc. This is how a turnkey home is built or remodeled:
- A company is hired which not only builds the home but also provides project management services to the owner.
- The construction company works on the project from conception to completion.
- The cost and fundamental aspects are worked out between the owner and the company prior to the beginning of the project.
- The hired company prepares the schedule and budgets the entire project.
- The owner outsources all services to the company such as interior designing and furnishing requirements.
- The cost incurred due to schedule delays and overspending is borne by the construction company and not the owner.
- The turnkey approach offers more peace of mind and less administrative hassle to the owner.
You can buy a turnkey home or it can be built from scratch or renovated following the same conception to completion model. Turnkey homes are excellent investments for renting out your home as well.
Now that we have a basic understanding of turnkey homes, let’s take a look at the design and build approach of constructing homes.
Design and Build Home
For design and build homes, the owner of the property is involved in the designing and building processes of the home. He determines the when, how and at what cost the home will be built.
As the name depicts, these types of homes are built in two phases; first design and then build. During the first phase, engineering drawings, exterior, and interior designs and finalized. During the second phase, the home is constructed according to the agreed plans. The owner is in charge of all processes.
Design and build homes differ from turnkey homes in the following ways:
- The owner of the property is fully involved with designers and contractors for the construction and designing of the home.
- The cost and schedule are determined by the owner.
- No changes in the budget, schedule, or design can be made without the owner’s approval.
- All extra expenses are borne by the owner.
- Allows more administrative control over the project and subsequently, more effort is required of the owner.
Turkey Vs Design and Build Homes; Which Construction Approach is Better?
There is no fit-all solution when it comes to choosing a construction plan for your home. It depends upon personal choice and circumstances. However, turnkey homes have the following advantages over design and build homes:
- If the buyer does not know have prior experience of construction, buying a turnkey home is a foolproof way of getting a good house.
- Dealing with one contractor/company (who will be responsible for the construction and designing both) is more convenient than dealing with multiple contractors.
- The owner/buyer will be saved from the administrative hassle of overseeing the project.
- Extra cost due to schedule delays or other unforeseen circumstances is borne by the contractor and not the owner/buyer.
- Fewer hidden costs and a more streamlined budgeting process.
If you want to purchase turnkey homes in military neighborhoods of North Carolina, consult Turnkey Military. They offer great deals on top-class turnkey homes.