Thinking about building a new home in Franklin but not sure where to start? Between lot premiums, design center deadlines, and long lead times, the process can feel complex. You want a home that fits your lifestyle and long-term goals without surprises. This guide gives you a clear path through Franklin’s new-construction process so you can make confident decisions from day one. Let’s dive in.
Choose your build path
Before you tour model homes, decide how you want to build. You can buy a spec or quick move-in home that is already under construction, choose a production plan on a builder-owned lot, or pursue a semi-custom or full custom build on your own lot. Each path affects cost, flexibility, and timeline.
Your financing will follow your choice. A traditional purchase mortgage is common for spec and many production homes. Semi-custom and custom builds may require a construction loan or a construction-to-permanent loan with interest-only draws during the build. Talk with your lender early so your pre-approval matches your path.
Focus your Franklin search
Franklin offers different experiences depending on the corridor you choose. Downtown Franklin and the Main Street corridor often feature infill and attached options near shops, dining, and events. South Franklin, including Cool Springs and Berry Farms, tends to offer master-planned neighborhoods with amenities and builder activity.
Westhaven is a long-standing master-planned community that has historically been a major area for new construction. Areas along Carothers Parkway, Franklin Gateway, and near I-65 continue to see growth and mixed-use development. Outlying areas within Williamson County, including places near Leiper’s Fork and the Brentwood border, can influence commute patterns and lot pricing. Confirm HOA rules, commute routes, and school attendance zones before you get attached to a specific site.
Get the right representation
The builder’s sales representative typically works for the builder. You benefit from having your own real estate agent who is experienced in new construction. Your agent can help you compare communities, negotiate lot placement and upgrades, review contract language and timelines, and coordinate inspections through closing.
Ask how buyer representation is handled in each community. Some builders offer cooperating commission for buyer’s agents. Verify any compensation and registration requirements in writing before your first on-site visit.
Vet the builder and lot
Do your due diligence on the builder. Verify the builder’s license and any complaint history with the state. Review recent permit and inspection records for Franklin projects to get a sense of quality and reinspection patterns. Ask for a list of recent Franklin closings and contact references.
Understand who owns the lot. Some lots are builder controlled, others are held by the developer, and custom sites may be buyer owned. Ownership affects price, timing, and how upgrades and allowances are structured. Clarify whether the lot premium is separate from the base price and how it is treated in the contract.
Understand lot premiums
A lot premium is an added charge for a specific homesite due to its characteristics. Premiums can reflect location within the community, views or buffers, cul-de-sac placement, corner orientation, or topography that requires extra foundation work. Some lots carry higher utility or site prep costs, including grading, rock removal, septic, or retaining walls.
To evaluate a premium, compare similar lots within the same phase. Ask what the premium covers, especially if site work is involved. Your agent can help you compare price per square foot for finished homes on different lots to see whether the premium aligns with market reality.
Nail the contract details
Builder contracts differ from standard resale contracts and often limit buyer contingencies. Read carefully and get professional guidance. Pay close attention to the payment schedule, earnest money release, and the change-order process. Confirm what is included in the base price versus upgrades, including appliances, lighting, and landscaping.
Watch for price escalation clauses that allow increases due to material or labor costs during a long build. Review how lot premiums are documented, whether liquidated damages are included for late completion, and any force majeure language. Ask about the builder’s right to substitute materials, assignment clauses, and dispute resolution provisions such as arbitration. Get warranty terms and the expected completion date range in writing.
Plan your design choices
Most builders follow a two-stage selection process. Structural decisions, such as plan changes, extra windows, or garage configurations, are made early and often cannot change once framing begins. Finish selections, including flooring, cabinetry, countertops, lighting, and hardware, are handled through the design center on a set timeline.
Ask how allowances work. Some builders provide allowances for certain categories, while others price upgrades at fixed amounts. Clarify whether allowances cover materials only or include installation. Prioritize upgrades that enhance function and value, like kitchen layout, storage, and primary bath design. Keep a contingency of about 5 to 10 percent of the base contract for change orders and unforeseen costs, and confirm how your lender treats upgrades in your loan.
Schedule inspections wisely
Franklin homes go through municipal inspections at milestones such as footing or slab, framing, rough-ins for mechanical, plumbing, and electrical, insulation, and final. Builders coordinate these checks with the city or county. As the buyer, consider hiring an independent third-party inspector at key stages.
Common checkpoints include pre-pour for slab foundations, pre-drywall to review framing and systems before walls close, and a final inspection before your walkthrough. Independent reports give you leverage for timely corrections and serve as documentation if a warranty claim arises later. Document all change orders and approvals in writing.
Know timelines and closing
Build timelines vary by product and site conditions. Spec or quick move-in homes can be ready in about 30 to 120 days, depending on stage. A production home on a builder-owned lot often takes roughly 4 to 9 months from contract to completion. Semi-custom or custom homes on buyer-owned lots can take 9 to 15 months or longer based on permitting and site work.
Weather, permit backlogs, material lead times, grading or rock, labor availability, and inspection schedules can all affect timing. Plan for final walkthrough and punch list before closing, and submit items within the builder’s specified window. Get written warranty documents that outline workmanship, mechanical, and structural coverage periods, plus the process for warranty requests.
Avoid common pitfalls
Do not rely on the builder’s sales rep as your sole advisor. Without your own representation, you may miss negotiation points on upgrades, timeline ranges, or lot placement. Do not sign a contract before you understand allowances, upgrade pricing, and change-order markups.
Avoid surprises by addressing site-specific costs upfront, such as rock removal, retaining walls, or utility connections. Confirm any lender incentives and whether you must use a preferred lender to receive them. Remember that completion dates are typically presented as ranges. Consider backup plans for temporary housing, storage, or lease extensions in case of delays.
Your step-by-step plan
- Get pre-approved for the right loan product based on your build path.
- Identify target corridors, HOA requirements, commute needs, and school attendance zones.
- Tour models and communities. Register your buyer’s agent at first contact.
- Verify the builder’s license, local permit history, warranty program, and references.
- Confirm who owns the lot and how the premium is structured.
- Review the contract for inclusions, contingencies, change orders, escalation clauses, and completion timelines. Get key terms in writing.
- Plan structural options first, then design center finishes on schedule.
- Hire an independent inspector for pre-drywall and final, and consider a pre-pour check for slab foundations.
- Complete the final walkthrough and punch list before closing, then file any warranty requests per the builder’s process.
Ready to map your Franklin new-build strategy with a local advocate who understands the neighborhoods, timelines, and contracts? Reach out to Amy Coliano for boutique, data-informed representation that keeps your build on track and aligned with your goals.
FAQs
What is a lot premium in Franklin new construction?
- It is an added charge for a specific homesite due to location, view, orientation, topography, or site work needs; ask for a breakdown and compare similar lots in the same phase.
How long does a new build in Franklin take?
- Typical ranges are about 30 to 120 days for a spec home, 4 to 9 months for a production build, and 9 to 15 months or longer for semi-custom or custom, depending on site and permits.
Do I need a buyer’s agent for a new build?
- Yes, the builder’s sales rep represents the builder; a buyer’s agent can negotiate upgrades and terms, review contracts, coordinate inspections, and guide you through closing.
When should I schedule third-party inspections?
- Common checkpoints are pre-pour for slab, pre-drywall to review framing and systems, and a final inspection before the walkthrough; document all findings in writing.
How is a construction loan different from a standard mortgage?
- Construction loans often require interest-only payments during draws and convert to permanent financing at completion, while standard purchase mortgages fund at closing on a finished home.
