Meritage Homes Vs. Lennar: Which Homebuilder Is Right For You?

When it comes to new home builders, Meritage Homes and Lennar are two of the biggest names in the game. Both companies have been around for decades, building thousands of homes across multiple states.

So how do you choose between these two homebuilding giants? That depends on what you’re looking for in a homebuilder.

In this comprehensive guide, we’ll compare Meritage Homes vs. Lennar across a number of categories to help you decide which is the best fit for your new construction home needs. Let’s dive in!

At A Glance Comparison Table

Before we dig into the details, here’s a quick overview of how Meritage and Lennar stack up:

Aspects	Meritage Homes	Lennar
Year Founded	1985	1954
Headquarters	Scottsdale, AZ	Miami, FL
States with Major Presence	AZ, CA, CO, FL, GA, NC, SC, TN, TX	Over 20 states nationwide
Home Types	Single-family homes	Single-family, townhomes, condos
Avg Home Price Range	$300K – $700K	$200K – $1M+
Green Building Certs	ENERGY STAR, Home Energy Rating System	ENERGY STAR, LEED
Customization Options	3 collections with predetermined options	11,000+ home designs, fully customizable

As you can see, while there are some similarities between the two builders, there are also some key differences that may make one a better fit than the other depending on your needs and preferences. Keep reading as we explore these differences in more detail across several comparison factors.

Geographic Availability and Footprint

One of the first things to look at when comparing builders is where they operate.

Meritage Homes has a presence in 9 states, mostly concentrated in the southern and western United States.

Their core markets include Arizona, California, Colorado, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Texas.

In contrast, Lennar has a much wider national footprint with homebuilding operations in over 20 states across the country. Some of Lennar’s key markets beyond those covered by Meritage include Maryland, New Jersey, New York, Oregon, Virginia, and Washington.

So if you’re looking to buy in states like New York, Oregon, or Maryland, Lennar is likely going to be one of your only options between these two builders. But if you’re searching for a home in the Carolinas, Texas, or other southern states, both builders have an extensive presence.

Also Read: Comparison of Fischer Homes And Ryan Homes.

Home Designs and Floor Plans

One major difference between these national homebuilders is the variety and customizability of home designs offered.

Meritage Homes offers home designs across 3 collections – LiVE.NOW, LiVE.WELL, and LiVE.FULL. Within each collection are 4-5 floor plans to choose from, each with predetermined interior finishes and exterior options curated by Meritage.

So while you get to pick from several beautiful home designs, the customization options are limited compared to other builders.

Lennar takes a very different approach, offering over 11,000 home designs across its markets from small condos to large luxury homes. And even within those set designs, Lennar allows buyers to fully customize their home’s floor plan, finishes, fixtures, and features to suit their lifestyle.

Their online Choice Plans tool also lets you adjust a home’s floor plan before purchase.

So for buyers who value personalization and want to put their own stamp on their new construction home, Lennar is likely the better choice between these two. But Meritage’s curated collections offer a simpler buying experience for those who don’t want to be overwhelmed with choices.

Home Types and Sizes

Meritage Homes focuses exclusively on building single-family detached homes across its markets. Home sizes range from around 1,800 square feet on the smaller end to over 4,000 square feet on the larger luxury end.

Overall, Meritage caters to first-time homebuyers looking for affordability as well as move-up buyers in the mid-range price points.

Lennar offers a wider variety of home types, including single-family homes, townhomes, condominiums, duplexes, and more. This greater range of product types allows Lennar to hit more affordable price points with attached homes that Meritage doesn’t offer.

Lennar’s single-family homes also scale up to 5,000+ square feet in many markets, reaching higher price points than Meritage’s offerings.

So Lennar once again wins out in terms of home type and size flexibility – buyers have many more options to find their perfect fit from small condos to spacious single-family homes.

Average Price Range

Given the differences in their product offerings, Meritage and Lennar’s average home prices also show some variation.

Meritage Homes prices tend to fall between $300,000 to $700,000 on average depending on the market.

Their LiVE.NOW collection targets more first-time buyers on the lower end of that range, while LiVE.FULL luxury designs reach the higher price points.

Lennar has a wider average price range given the diverse product mix, but overall prices run from the $200,000s for condos to over $1 million+ for luxury homes. Townhomes and affordable single-family designs make up Lennar’s lower price points, while larger custom homes reach higher prices.

Both builders offer incentives like closing cost assistance to offset affordability challenges for today’s buyers facing higher mortgage rates and inflation. But Lennar’s broad range of price points gives them greater flexibility to serve buyers across diverse budgets.

Green Building and Sustainability

For environmentally-conscious homebuyers, both Meritage and Lennar have made strides when it comes to green building and sustainability initiatives:

• Meritage builds all homes to EPA ENERGY STAR requirements for greater energy efficiency and lower utility bills. They also participate in the Home Energy Rating System (HERS) index to quantify each home’s efficiency and reduce environmental impact.
• Lennar has over 400,000 ENERGY STAR certified homes to date and also meets or exceeds HERS index requirements set by third parties like RESNET. Additionally, Lennar’s luxury home division offers LEED-certification for sustainable design, construction, and performance.

Based on their green certifications and energy-efficient construction, there is no clear winner between Meritage and Lennar when it comes to sustainability. Both builders demonstrate a commitment to building greener homes.

Included Features and Options

The included standard features and optional upgrades available can impact your new home’s functionality, livability, and comfort.

Meritage includes features like granite countertops, GE stainless steel appliances, hardwood flooring, and tile backsplashes even on baseline homes. Upgrades like covered patios/decks, finished garages, and gourmet kitchens are available.

However, options are limited to the predetermined selections within each home collection.

Lennar also offers granite, stainless appliances, hardwood floors and more on standard designs. However, their wider array of upgrade options let buyers customize cabinets, flooring, fixtures, smart home tech and more during the design process.

Accessory dwelling units (ADUs) and multi-gen suites are also available on many Lennar floor plans.

Once again, Lennar pulls ahead for buyers wanting to fully personalize their home’s design and functions. But Meritage still includes many popular features as standards, avoiding the need for upgrades.

Quality and Customer Service

The biggest consideration for any homebuyer is the end quality, construction, and customer service from their builder. Both Meritage and Lennar have strengths and weaknesses in this category.

Meritage consistently earns above-average ratings for build quality, attention to detail, and service. They back every home with a 1-year limited warranty. Though some buyers report issues with long build times and unresponsive staff.

Lennar has mixed reviews when it comes to construction defects and customer service struggles.

But they offer a longer 2-year limited warranty on structural defects.

Recent surveys show Lennar focusing on improving quality and service across their regions.

For buyers wanting the best possible home construction and service, Meritage seems to have an edge reputation-wise.

But Lennar’s longer structural warranty shows their confidence even amidst past challenges. Doing your research on local teams and getting buyer references can give you the best insight into each builder’s strengths in your market of choice.

Financing and Incentives

The incentives and financing programs offered by each builder may also sway your decision if you need help with affordability.

Meritage runs frequent promotions with closing cost assistance, rate buydowns, and other savings to offset mortgage rates and home prices. Their simplified underwriting can also expedite loan approvals.

Lennar advertises new incentives frequently as well, including rate buydowns along with discounts on options and upgrades. Their Eagle Home Mortgage program also provides below-market rate financing on both purchases and refinances.

Based on their tools for affordability in this high cost market, both builders are fairly matched when it comes to helpful financing and incentives for buyers. Be sure to negotiate additional savings with your sales representative on top of advertised specials.

Which Builder Is Best For You?

With this overview comparing Meritage Homes vs. Lennar across a number of categories, you’re now equipped to decide which national homebuilder best fits your new construction needs and preferences.

Here are some quick tips on deciding between Meritage and Lennar as your builder of choice:

• If you value fully customizing your floor plan, features, and finishes, go with Lennar and their extensive choice plans.
• If you want the simplest buying experience with curated collections and minimal choices, choose Meritage.
• If you need an affordable attached home like a townhome or condo, Lennar offers more options and lower price points.
• For the best energy efficiency and sustainability certifications, performance is evenly matched between the two.
• If construction quality and customer service are your top priority, Meritage may have a slight edge based on reviews and ratings.

Whichever you choose, you can feel confident getting a high quality new construction home from two of the top national homebuilders. And be sure to negotiate additional features, incentives, and warranty coverage during the purchase process to maximize value.

Good luck with your new home search! Taking the time to research and compare builders will set you up for an informed homebuying decision.

Frequently Asked Questions (FAQ)

Get quick answers to some common questions homebuyers have about Meritage Homes and Lennar below:

Wrapping Up

In the world of national homebuilders, both Meritage Homes and Lennar stand out as leaders in their markets across the country.

This detailed side-by-side comparison looked at everything from geographic availability and home designs to included features, quality, and value. While Meritage and Lennar take somewhat different approaches to new home construction and buying experiences, either builder can be an excellent choice depending on your needs and preferences.

The best advice is to thoroughly research these builders in your local market, tour model homes, and speak with sales representatives. Be sure to ask for incentives and negotiate additional features, warranty coverage, and buyer savings in this competitive market.

Whether you select Meritage, Lennar, or another top homebuilder in your area, we hope this guide gave you the information needed to make a confident decision about your new construction home purchase.

The process of finding and building your dream home should be an exciting one, and the right builder makes all the difference. Happy house hunting!