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A residential builder is a builder who specializes in constructing residences. Also known as a homebuilder, a residential builder can construct anything from an individual custom home which has been developed to exacting specifications to homes in a large real estate development. Like other types of builders, residential builders handle the numerous contractors involved in construction, from the people who dig the foundations to the crew that puts the roof on a home.

When a residential builder is approached about a construction job, he or she visits the site to learn more about it, talks with the architect who designed the project about the plans, and develops an estimate for the client. The estimate includes all costs associated with the project, laid out in a document which breaks the costs down so that people understand how the builder arrived at the estimate. Once the estimate is approved, the residential builder starts work.

Residential builders are the coordinators of the construction site. With the architect's drawings in hand, they find people to perform all of the work, including establishing foundations, framing and siding, roofing, and interior finishing such as plumbing, wiring, and drywalling. Residential builders can also order and install appliances, flooring, cabinetry, and other accessories, delivering a complete finished home at the end of the job.

Residential builders also handle tasks like ordering supplies, controlling supply costs, managing waste, confirming that all of the contractors and employees are qualified for the work, and working with property inspectors to ensure that the structure meets the building code. Typically, a residential builder has a large staff so that it can have several projects underway at once, and the staff includes people experienced in many different aspects of construction, from lawyers who handle construction issues to foremen with extensive experience in the field.

Single-Family to Lead 2014 Construction Market

DAILY REAL ESTATE NEWS | MONDAY, OCTOBER 28, 2013

U.S. construction starts are expected to increase in the new year, heading up 9 percent in 2014 to $555.3 billion—a 5 percent increase over what's estimated for this year, according to McGraw Hill Construction's 2014 forecast.

A big contributor to that growth will be from single-family home construction, the report notes. Single-family housing construction is expected to grow 26 percent, to 785,000 units.

"The positives for single-family housing are numerous—the pace of foreclosures has eased, home prices are rising, and mortgage rates remain near recent lows," McGraw Hill Construction notes in its report. "However, the demand for housing will continue to be restrained by careful bank lending practices toward issuing mortgages."

Multifamily housing is expected to rise 11 percent in dollars and 9 percent in units in 2014, according to the report. The percentage gains are expected to be smaller than the previous four years. However, multifamily housing is still a lure for investors, which will help lead to more high-rise residential buildings in major cities, the report notes.

Commercial buildings also are expected to tick up 17 percent, faster than the 15 percent gain that is predicted for this year. "Both warehouses and hotels will continue to lead the way, while stores and office buildings pick up the pace," the report notes. Improving market fundatmentals and more bank lending will aid commercial development. Still, commercial building is projected to be 28 percent below the 2007 peak.

"The 2014 picture bears some similarity to what's taking place during 2013, with single family housing providing much of the upward push; multifamily housing showing a slower yet still healthy rate of growth after four years of expansion, and commercial building gradually ascending from low levels," says Robert Murray, McGraw Hill Construction's vice president of Economic Affairs.

—REALTOR® Magazine Daily News