What is a Spec House ?

29 Mar What is a Spec House ?

Posted at 14:54h in Blog Posts, Education, Neighborhoods, Snell Isle by Bob Linger

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The term “spec house” means it is a speculative venture for the builder, built with the intention of selling it as-is or with minimal changes to a home buyer.

Should I Consider a Spec House?

First it’s important to understand, in the building industry, there are different types of homebuilders. Some are known as custom home builders, others are tract home builders and some are “spec” home builders.

Custom Home Builders like Devonshire Custom Homes usually build one-of-a-kind houses on your land or land that we have acquired in neighborhoods where you would like to build.

Snell Isle Custom Home rendering We tend to build luxury features in homes, such as taller ceiling height and larger doors and room sizes. As a custom home buyer, the home building process as a partnership between the you and the builder. At Devonshire Custom Homes, the construction of the house will be built to your tastes and desires for amenities, features, size, creative touches, and style. Building a custom home provides possibilities to create a home that truly fits your lifestyle.

Spec Home Builders are built by builders who buy a lot or land, build a house, and then sell the home. The builder “speculates” that he will make money from this transaction of buying a lot and building a custom or semi-custom home on it.

Builders, even custom builders like Devonshire Custom Homes sometimes build “spec homes” with no particular buyer in mind. These homes are often completed fully, but it’s very possible to find a spec home still under construction.

Are there Any Benefits to Buying Spec House?

If you purchase the “spec house” during the course of construction, you may be able to choose many of the finishes, however the builder, rather than the home buyer determines the “floor plan” before breaking ground.

Purchasing a spec home gives you the opportunity to walk through the home before making a purchase. When buying a brand new home that must be built from the ground up, on the other hand, the buyer does not have the same opportunity.

A spec home is not the right choice for a home buyer who want to make choices on every single detail such as colors and styles of brick, tile, carpet, wall-finishes, cabinets, light fixtures, counter tops, and hardware in their new home.

But for those who want to enjoy the benefits of owning a new home without waiting several months before moving in, it may be a good option.

Therefore, for those who want to have the opportunity to actually walk through the home before making a purchase, a spec home may be the way to go. The same is true for those who do not have their heart set on including specific options in the home.