subject: Purchasing A Spec Home: A Financially Rewarding Experience [print this page] There are many benefits of purchasing a spec home. Custom-built homes are often portrayed as "Dream homes"; but that dream can easily turn into a nightmare! A spec home, by contrast, is faster, usually more cost-efficient, and of very high quality.
A spec Home is one that is designed, planned, and built by a contractor/builder. This means one of two things. First, it could mean that the builder has completed a home, and is looking for a buyer after the fact. Second, it could mean that a contractor/builder has a set of options that a buyer can choose from, and a new construction will be put together based on those limited selections.
Buying a spec home will go much faster than buying a new construction. Builders work with the same vendors on every project. The method used to build this kind of home is nearly identical every time; this makes the process quite efficient. If you want the convenience of getting into your new home quickly, and are prepared for a slightly limited set of choices on the design, this type of home is probably for you.
A further reason to consider this type of home over a custom-built home is the lower overall cost of the construction. Builders purchase large quantities of building materials at a low cost, making the overall cost for the buyer lower as well. A builder and his crew can put up this kind of home very quickly, and the buyer benefits from this by paying a lower total cost for the construction. These spec home owners typically benefit financially on the resale of their homes as well.
Spec Homes do not differ significantly from custom-built homes in the quality of their construction. The measuring and cutting of materials is all done by computer, so the outcome is a superior construction. The contractor works with a nearly identical team each time he builds on a home site. Quality of construction is definitely not a problem for the spec home owner. Fundamentally, the low cost and high quality of these homes make them a good choice for many home buyers.
