From the Ground Up

5 Reasons to Buy a Spec Home

Spec homes are move-in ready homes that allow home buyers to see exactly what their new home looks like, rather than envisioning a home that has not been built yet. Here are 5 key benefits of buying a spec home:

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Affordable Price

One of the key benefits of buying a spec home are the potential savings. The affordability comes from efficiency in the building process, not low quality. Home builders take time to carefully create their floor plans and design plans, which creates an efficient building process. There is also less customization in spec homes than custom builds, which offers excellent value for money.

Move-in Ready

Building a custom home is a very exciting process, however, it can be time consuming due to all of the choices available to the customer. Sometimes the process of building a custom home from start to finish can take over a year. If you’re looking for a home to move into sooner rather than later, a spec home is the right choice for you. If you find the spec home of your dreams, you could do a walkthrough, purchase the home, and move in a few weeks later. That quick timeline is unheard of in custom builds.

No Guesswork

When you buy a spec home, you get to see exactly what you are purchasing before you actually sign the dotted line. You have the opportunity to check every part of the house and ensure that you are happy with it. With a custom home, you may only see the blueprint or concept at the time of purchase, and you don’t get to see the exact end result.

You Don’t Have to Start From Scratch

With custom builds, you may need to coordinate with a design firm or architect to nail the home of your dreams and get it just right. However, with a spec home, it’s all done for you. Professional designers have already done the legwork to create a perfect combination of beautiful architecture and design.

Simpler Financing

The majority of spec homes are sold with settlement upon completion, which helps avoid complex lending structures and progress payments. The process of buying a spec home in general is much more streamlined and quicker than buying a custom home. 

A special bonus of buying a spec home is that spec builders are typically small business owners, so when you buy a spec home, you’re supporting a small business and getting involved in your new community.

If you're interested in learning more about spec homes, download our Spec Home Guide here!