There’s no doubt that building a new home can be a long and complicated process for both the buyer and the builder.
Although building a new home can be an exciting milestone for many, about 59% of people who build a new home feel stressed, anxious, or even frustrated during the process. Contractors and builders can heavily affect the experience of the buyer in their home building process, and yet, 32% of buyers would not recommend their builders or contractors to others.
Those statistics demonstrate a big percentage of unsatisfied buyers. But there are ways to understand those buyer’s complaints and address their concerns to enhance their home buying experience.
Here are some reasons why people struggle in their home building experience:
Picking a contractor
People looking to build a home are going to have to make a very important decision to start off the process, picking a contractor. It can be difficult for a buyer to even start the research process, most often the only way they can get good information on the builder is by going to their model home or office. And even with a lot of research, people’s experiences with a certain contractor can vary, either enhancing their experience or creating more stress.
Selecting a layout or a model
35% of buyers feel overwhelmed by selecting the location, layout, or model of their home. Although this process is exciting, it can be very stressful. Building a home is a big and expensive decision that can often take away from the excitement of the process.
Unclear or confusing contracts
Unclear or confusing contracts can unnecessarily and easily burden the buyer. Especially for first time buyers, it's crucial that the contract is clear. Misunderstanding of the contract can add more stress and frustration to the buyer later on.
We live in a digital age, yet there are many contractors that send their prospective buyers with the information they need, on paper. There is high risk for this important information to be lost or misplaced throughout the process of building the home. Easy access to information on the house can be a huge relief to the buyer, making the building process smoother and less stressful.
Overwhelming or confusing customization
Most people look forward to customizing the home. Selecting designs and colors is considered the “fun” and “stress-free” portion of the home building process. However, many buyers experience overwhelm and anxiety when it comes to making so many decisions at one time. Access to the designs and options can add to or relieve the stress the buyer might be experiencing, depending on the process the contractor uses.
Communication is crucial. Between buyer’s, the contractors, and the sales agents - all are equally important when it comes to the Home Buyer Experience. Delayed responses or unclear communication can lead to mistrust between the contractor and the buyer. Consistent poor communication can really harm the buyer's experience working with their contractor.
Building a home is often a stressful experience, only 33% of buyers enjoy the home-building process. Seeing the progress of the home can often add to the experience and make it more enjoyable, especially when the updates are delivered regularly and are easily accessible.
Unfortunately, 50% of new home buyers experience over a 3 month delay. Delays can heavily affect the moving process and can increase the stress of finalizing the home. Many delays have been caused by the pandemic and can discourage the buyer.
Rising expenses in materials and labor costs can make the building experience frustrating and worrisome for buyers. Buyers are forced to scale down their ambitions and minimize some of the upgrades, which can take away from the experience.
Overshooting the budget
92% of new construction buyers say the process was more expensive than they anticipated. Throughout the home-building process, expenses and upgrades can add up quicker than many buyers realize, and so, discouraging the buyer and minimizing their excitement over their new home.
The process of building a new home is a rollercoaster of emotions and a long list of tasks for the buyer.
Although it is the buyer's responsibility to research and plan ahead for their new home, it is equally important that the builder prioritizes the buyer and finds solutions to increase the buyer’s experience.