In the custom home building industry, turn key means you are hiring a general contractor to complete your entire custom home building project. You will not be able to prepare the property, and/or participate in the building process. The assumed benefit of a turn-key build is that you go about your life with minimal interruptions since the contractor is taking care of every detail. Unfortunately, the cost for managing the entire project will drive up the total project cost, and in most cases, it will eliminate the possibility of having instant equity.