House builders or residential builders are those who specialize in building residences from grounds up. These builders are able to construct anything starting from a customized individual home to large real-estate projects. Most house builders start from the scratch. They conduct a market research to understand the local residential requirements. They study whether a new construction would make sense in the country and whether the site in question is suitable for construction. Following the recce, the house builder, after seeking advice from his architect, offers an estimate for the project to the client. The breakdown usually consists of the following:
- Super Structure
- Electrical work
- Sanitary work
- Land area
- Number of floors
The building industry consists of different types of house builders. To begin with, home builders are of three categories:
- Custom house builders: Custom builders erect houses that are site-specific and have unique plans as desired and specified by the client. Hence as a client, you can make changes such adding a garage, increasing bathrooms, refurbishing the kitchen, and much more.
- Spec house builders: Builders who specialise in buying land, building a house and then selling it are considered Spec Builders. This category of builders looks forward to financial gain.
- Production or tract house builders: These house builders own very large plots which they divide into smaller lots. They build model homes on these lots leaving no scope for changes or improvements. These builders usually build condominiums, townhouses, and single family houses. How much do you need to hire them in Singapore? House builders usually charge 10% (or less) of the total construction cost as a settlement for their services. You pay about S$1 million (also depends on the size of the project) for building a standard bungalow. Additional costs include the plan submission fee and recurring service charges.