The Top 5 Best Things About Buying a Spec Home

We know you’re probably already aware that when it comes to brand new homes, you have the option of starting from the ground up or picking a beautifully finished move-in ready model. But that doesn’t mean you have to choose one or the other – you can opt for a new home build that sits somewhere in between.

A spec (short for speculative) home is a brand new home under construction but not yet purchased. The builder chooses which of its most popular models, features and finishes will best suit an area and begins construction to provide a variety of choice to prospective buyers. This means, if you keep your eyes peeled, you can purchase a brand new home at nearly any stage!

But that’s not the only thing that makes these homes so popular. Here are few other great things about opting for a spec home:

1. A Shorter Timeline

One of the major perks that comes with a spec build is the quick turn around time. Timelines for building a new home will vary depending on the size, complexity, and amount of customization you include in your home. A spec home can be ready for you within a month or two, sometimes even less, depending on what is yet to be completed at the time of purchase.

What’s more, a good builder will keep you informed every step of the way, so you know exactly when to expect your new home to be ready. This, combined with an already shortened build process, means you can look forward to getting the keys to your new home quickly while still having plenty of time to prepare.

2. More Options

Another popular reason for choosing a spec home is the ability to have some say in your home’s features. If it’s in the earlier stages of construction, you may be able to move some walls, for example. Or perhaps you’d like to opt for a larger patio, ensuite or kitchen.

If you’re already satisfied with the floor plan the builder has chosen, or the home is in the latter stages of construction, you may be able to pick and choose a few of your finishes such as counter tops, flooring, lighting, or cabinetry.

3. …But Fewer Decisions

While it can be fun to make a few changes to your home’s layout or features here and there, too many decisions can be a hassle – especially if you’re looking to move in sooner rather than later. So, while you may have the opportunity to choose the cabinetry you love, for example, a spec build helps you avoid a lengthy decision making process.

4. Control Your Bottom Line

Speaking of decisions, deciding on a budget and sticking to it is key to controlling your new home costs.

Spec homes are offered at a variety of price points, which helps you to find an ideal yet affordable home. Even better – with the lot, home plan, external finishes, and some-to-all of the internal selections already made, many of the decisions that affect price will already be confirmed by the time you choose your home.

5. Makes Buying and Selling Easy

As mentioned above, spec homes make planning your new home timeline easy. Not only will you be able to effectively plan your move around work, the kids’ school schedule and holidays, you’ll also be able to better time the sale of your current home. Your builder will keep you informed regarding your possession date so you can enjoy a smooth transition from old to new.

If you’ve found yourself stuck between building your dream home from the ground up or purchasing a move-in ready model, a spec build might be the perfect happy medium.