Buying a Starter Home

3 Important Things To Know About Spec Houses If You Are Shopping For A New Home To Buy

3 March 2017

Capucine Leroux

If you just started shopping for a new house to buy, you may run across some spec houses. If you have never heard of this term, you probably have no idea what this even means. Spec houses are extremely common and are brand-new homes that are for sale. Here are several important things you should know about spec homes as you search for a house to buy.

The Definition Of A Spec Home

A spec house is a house a construction company builds on their own in hopes to sell it. The builder does not have a buyer for the house, which means the builder is the one making all the decisions for the design of the home.

Some builders construct spec homes for fun or just as part of their normal operations. There are other builders that only build spec houses during times when they are slow with other jobs. For example, if a builder is usually slow in the winter, they may decide to build a few spec homes just to keep their workers busy and employed. In either case, a spec home will be for sale as soon as construction on it begins, and most of these homes are listed for sale through real estate agencies.

You Can Make Changes If You Buy The House At The Right Time

One important thing to know about spec homes is that buyers can make changes to them if they buy them at the right time. If there are a lot of spec homes for sale in the area where you are looking for a home, it's likely you will find homes at all different stages. Some spec homes might be completely finished or almost finished, while others might be in the initial stages of construction.

You should know that if you buy a spec home while it is in the initial stages of construction, you will have the opportunity to make any changes that you want, as long as the work is not already completed. In other words, you may not be able to change the shapes and sizes of the rooms, but you may be able to select the cabinets you want. You may also be able to choose your plumbing fixtures, paint colors, and flooring types and colors.

There are also situations when you can make changes to parts of the home that are already completed. For example, if you love the house but do not like the kitchen cabinets, you could possibly change them. Doing this would most likely result in paying more for the house, though.

Buying A Spec Home Offers Key Benefits

There are several key benefits offered through buying a spec home. The first benefit is the ability to move into a brand-new house without waiting for it to be built. If you find a spec home that you love, and if this home is almost finished, you will get to move in quickly. This makes buying a spec home a great idea if you want to move into a brand-new house quickly. Another key benefit is that the home will probably come with a warranty, simply because it will be a new house.

The best thing you can do before you start looking for a house to buy is choose a real estate agent to hire to help you locate homes for sale that meet your needs. Once you do this, the agent can begin lining up showings for the homes that fit into your unique and specific needs. Contact a real estate agency if you would like to start viewing homes for sale.

Share

Search