Since I am professionally a Java developer, this will primarily focus on Java code.
I feel there is a misunderstanding, and in effect, overuse of the Builder pattern in Java codebases. The purpose of Builders is to allow creation of complex objects that have different representations (i.e. have optional fields). First and foremost I consider Builders a code smell (as to why, I will get to later). In my experience developers use Builders not as a way to create objects that can have multiple representations but because it is convenient to construct big objects using Builders. I was one of them. On the surface this does not seem to be a bad practice. It allows you to create an object with less chance of assigning an incorrect parameter to a field since you can see what field you are setting. This approach became notorious with the appearance of Lombok (note: this text is not a Lombok hate text, I actually really like some aspects of it). The problem with this approach is that it is not really a Builder pattern. Instead it is a substitution for a lack of language feature called: named parameter (actually most design patterns are ways of working around language deficiencies). When faced with an object that has a huge number of fields typed String, int and boolean (we all saw those), developers cower in fear on a thought of building such an object using a constructor. Anyone with a bit of experience faced hell searching for a bug that was caused by a wrong argument order in a constructor. If Builders solve this issue then what is the point of this post? Lets just use them… except lets not. I say use constructors (i.e. construct the whole object in one method call) or in most extreme cases, factories.
I mentioned earlier that I consider Builders a code smell. Why? Above all Single Responsibility Principle. The clue is in the description of the pattern: construction of different representations. In essence if you need a Builder then there is a huge chance that your object is doing too much. It has too many dependencies and too many properties. Split it. Actually, I have almost never seen a Builder used to construct an object that could have many representations (e.i. all fields were always set regardless of context), meaning that by definition it was used incorrectly. If an object has one representation but still a large number of dependencies, split it further. If there are many implementations of a single interface that you do not want to expose, use Factory Pattern. An exception could be a large DTO that we have to handle due to some higher forces e.g. integration with external system. Even then I would be very careful due to reasons stated further down.
Many of us use Domain Driven Design, or at least say they are using. It introduces a concept of Value Objects. Use them. This will solve the problem of having parameters of the same type. Instead of three String typed variables you will be passing three domain specific typed variables. Let the compiler help you. The Project Valhalla will make this even easier. Digression: I will take this opportunity to shamelessly plug something I really believe in, which is Type (not Test) Driven Development. Look it up. Unfortunately Java type system just barely qualifies as a statically typed language (and does not have type aliases) so it makes it hard to benefit form it. Maybe our industry will eventually move to better typed systems.
Next issue I take with Builders is that we forgo the help of the best checking tool available to us during refactors, the aforementioned compiler. When adding fields or dependencies to a class, if you use Builders for construction, you will have to manually check all the places it was used. If you use a constructor, then the compiler will automatically find it for you. The code will not run until this is fixed. I have seen countless bugs caused by not passing all arguments to the builder. This can also happen during initial development. It is easy to accidentally forget a field or set the same one twice (and just compare the number of setters to the number of fields). You might argue that this could be solved using tests (hopefully you have those…). Which is true. But so could be said about the incorrect order of parameters in a constructor. Unless you use e.g. Spock (by the way, love it), and Groovy to construct your Fixtures. God help you. Construct your objects in Java/Kotlin so you have that sweet compiler verification. In addition, compile time checking is faster and… can’t be accidentally deleted. Bottom line: Builders are easier to write initially (in theory) but harder to maintain. Note: I find modifying/removing fields to have a similar refactoring cost in both constructors and Builders.
This is mostly a problem with Lombok Builders but they leak implementation details. They expose all internal fields (unless there is a feature I am not aware of). Not a huge problem for anemic objects, especially if the Functional Programming approach is used (but then you face other problems, see below). Not acceptable when used with OO related encapsulation.
Builders used with a Functional Programming approach should be immutable. Lombok Builders are not. So are most implementations I have seen. So now you have an object (Builders are objects too), that is mutable and, depending on use, possibly stateful. One of useful things that Lombok introduced to Java is the toBuilder() method. It allows you to create a shallow copy of an object while modifying fields. Reminds me of functional lenses.
So this is it. If you actually must use Builders then please take the Effective Java approach: The mandatory fields are initialized in the Builder constructor, while optional fields through setters. This allows us to make sure necessary fields are always passed since we have compile time checking, while still allowing us to have multiple representations.