New homes are "custom built" or ready-to-move-in "spec" homes.  A "spec" home is built to the contractor's own specifications, speculating that someone will want to buy
a ready made home. The lowest price for a newly built home in the Greater Lansing is $126,900.

New homes have new appliances, new plumbing, new roof, new electrical system, new heating system, etc. They also come with a warranty so you shouldn't expect to spend money for repair costs anytime soon.

Another advantage is the design process. If you initiate the building of a custom built home, you'll make decisions about the interior and exterior design and be able to select the kind of cabinetry, appliances, flooring and other features you'll be living with during the next few years.

Working with the builder
Many buyers who initiate the building of new home know little about construction and are confused by terms used to describe the building process. They may not ask the right questions and frequently make commitments they later regret.

It’s important to have a Buyer’s Agent working on your behalf to help clarify the process and assist you with the contracts, just like you would on any other home. Realtors understand new home construction and can offer advice about the builders and the locations of their building sites.

Most builders fully cooperate with Realtors because they want to sell their homes quickly and they know that most people looking for homes are already working with a buyer’s agent.  The builder pays the agent a commission for providing a buyer with no additional cost or fee to the buyer.

Be aware of hidden costs and "Builder Grades"
Just because everything is fresh and clean in your new home doesn’t mean that there won’t be additional expenses after the construction. The specifications for the building project should be looked over carefully so you'll understand what is, and is not, included in the project. These are some things that may not be included in the building contract:

• Site preparation
• Kitchen appliances
• Sidewalks
• Full driveway
• Lawn
• Mailbox
• Utility hook up
• Deck or patio