In the building industry, most people assume that they know what they are getting into and that we all agree on what certain terms mean. But when we talk about custom homes and luxury homes, are we talking about the same thing? Can they be used interchangeably? Or are they very different terms and ones that you should pay attention to? These are the term definitions for new home construction in Charleston and what you need to know.

What is a Luxury Home in Charleston?

A luxury home in real estate terms is a home that is priced considerably more than the average home in the area that it occupies. Typically, a luxury home is in a location or development with luxury homes. The starting price of a luxury home is usually categorized as anything more than $500k and can span up to a million dollars or more. So in practical terms, a luxury home is all about the pricing of a house, not what it contains. Although most people expect some upgrades, a luxury home is all about the location, quality, and price. 

What is a Custom Home in Charleston?

Custom homes come in three different categories: custom homes, semi-custom, and spec homes. When homeowners buy a custom home, it is a project where they work directly with the home builder or architect to plan and design every aspect of the home build, from the layout to the finishing touches. A custom home is great for someone who already knows what they want and can communicate it. A semi-custom home differs because it doesn’t have as much design work for the homeowner. Basically, they get to add the finishing touches once the majority of the home is already built. A spec home is the third option, where you are given options for everything from the floor plan to the finishing touches, but those options are more limited.

So Are You in the Market for a Custom Home or Luxury Home in Charleston?

A luxury home can double as a custom home and a custom home can double as a luxury home, but they are two independent things. It is really a matter of how much you want to be involved in the building process and how much money you have to spend. At Ragland Homes, we work closely with every homeowner to find the option that gives them all that they want at a cost-competitive price without ever sacrificing quality.

If you are in the market for a custom or luxury home, Ragland Homes can provide all that you need at a price you can afford. Not all custom homes have to cost a million dollars, and not all luxury homes have to be predetermined. Our mission is to find a happy medium to get our home builders all that they want at an affordable price. Contact us today to get started on your custom or luxury home in Charleston, SC!