What Is A Spec Home?

Building a brand new home involves thinking of every little detail of the plan and design of the house since you are building it from scratch. Once you make a decision, you have to wait for quite a while to see your vision come to life as your house is being built. This is the reason why purchasing a spec home is highly recommended.

A spec home is a house which is built on a speculative basis – meaning that the builder speculates the features of a home that has the potential to attract most buyers and build homes based on that assumption. Buyers usually have the opportunity to select details from a number of options that the buyer provides, for example, there could be four types of floor plans available. By limiting the number of materials and blueprints used, and by using a standard home design, builders are able to make spec homes more quickly and at a smaller cost than a custom-made home. This makes spec homes more affordable to buyers, giving more people the opportunity to buy brand new homes.

The advantages of spec homes are clear when comparing how both spec homes and custom-made homes are made. It is an attractive option for those who would like to buy a new home, but do not want to have to make meticulous designs over every single detail. You are presented with several choices on things like floor plans and house color, and all you must do is select one; whereas if you built your own house, you must determine these things (and more) yourself.

You may find yourself having to do additional research about the quality of the different materials that you can use whereas with a spec home, the options available are assumed to be of good quality or else the builder wouldn’t offer it as an option.  Secondly, since spec homes are based on a standard model, the houses are built faster because the builder is familiar with the blueprint. Additionally, having a standard model makes it easier for contractors to work on the house when it requires repairs as it is easier for them to see where things like electrical and plumbing are located.

Moreover, since spec homes are built faster and with a limited amount of materials, they are less costly to build. These costs are then passed on and used to attract buyers, attractive for those who would like to buy a new home but would not be able to afford one that’s custom-made. Finally, the faster construction time means a home buyer will be able to move in sooner than if he or she builds a custom-made home.

For those who do not have the excess time and money to build a custom-made home, going for spec homes is a great way to own a brand-new home without having to wait a long time and make meticulous decisions.

Crystal Tost

About the Author:

Crystal Tost is a Calgary based residential real estate professional, view MLS Calgary.


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