Answers - Real Estate

The major advantage in building a custom home is that you get a completed home that ideally meets your needs, both in terms of function and quality.

Today

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

most spec homes are built using “builder’s grade” products in order to minimize cost and maximize profits for both the builder and real estate agent. As a

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

result, the new homeowner frequently winds up purchasing a home that has products installed, e.g. appliances and cabinets, that have short life expectancies

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

. In addition, with a spec home its pretty much what-you-see-is-what-you-get (wysiwyg), both in terms of layout and room sizes. Even if you sign a purchase

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

and sales agreement for a to-be-built new home in a new housing development you frequently are limited in house styles, layouts and features.

When buildin

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

g a custom home, on the other hand, you can choose the floor layout and room sizes. In addition, you have the freedom of lot selection, home style, cabinet

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

and flooring selections, window and door choices, siding material and color, lighting, etc. The list goes on. Virtually every feature and product of the hom

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

design is for you to decide upon.

Building a fully custom home however, does come at a price. Unique features and products are not sold at “builder grade”

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

prices at box home improvement stores. Consequently you should expect to spend 2 to 3 times more per square foot on construction costs when building a full

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

y custom home.

Alternatively, a semi custom home is a compromise between building a fully custom home and purchasing a spec home. As a result, building a s

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

emi custom home provides you with the ability to select some of your home’s features, while not blowing your home budget.

When building a semi custom home,

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

the builder usually presents you with several house styles and floor plans to choose from. In addition, you are usually allowed to select flooring, cabinet

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

s, appliances, lighting fixtures and lighting locations. Frequently the flexibility is offered via “budget allowances”. For example a builder may offer you

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

a $2000 kitchen appliance allowance where you choose what kitchen appliances you want installed in the home’s kitchen. If you decide to purchase appliances

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

n excess of the allowance then you pay the additional costs out of your pocket.

In addition, when building a semi custom home you will frequently have the

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

opportunity to select various building options such as attached garages, family rooms, unfinished rooms and even deck sizes.

Deciding to build a custom hom

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

e is not for the faint of heart. Even if you have selected a great architect and builder you will be required to do a lot of work and make a lot of choices.

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

Expect to spend many a day at kitchen and bath centers, flooring stores, lighting stores, etc. You will need to make decisions on many aspects of your cus

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

tom home that you would not otherwise have a chance to do if purchasing a spec home. However, for most homeowners choosing the path of building a custom hom

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

e is a positive experience. Everyday they live in the custom home they get to appreciate the choices that they made during the building of their custom home

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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