Would you rather buy a finished house with an option for some customizations? Or, would you want to work with a home builder to build a fully customized home? The difference is whether you buy a spec home or build a custom home.
When buying a home, one of the key considerations you have to make is how much you want to be involved in the house design, construction, and finishing process. Would you rather buy a finished house with an option for some customizations? Or, would you want to work with a home builder to build a fully customized home? The difference is whether you buy a spec home or build a custom home.
Spec homes are built by builders to sell completed houses to target customers. Usually, the home builder does their market survey to establish what their target clients would want in a house. They then come up with floor plans and designs for multiple houses and build them.
Customers can buy the finished product or they can get involved in the early construction phase. In the latter scenario, the home builder may offer the home buyer a few customization options in the overall design and finish of the house.
A custom home is specifically designed and built for you to fit your specific needs, desires, and preferences. Rather than using a predesigned plan, you work with a building company, architect, and designer to determine every aspect of your home, including floor plans, number of rooms, finishes, appliances, fittings, and décor.
Custom homes require a high level of involvement by the homeowner. The homeowner is involved at every step of the process as their decisions and opinions drive the direction and progress of the project. On the other hand, clients have little to no involvement in the construction process of spec homes.
Therefore, if you want a handoffs home construction and ownership process, go for spec homes. Otherwise, for 100% hands-on home construction and ownership opt for custom homes.
Since a custom home is specially designed for you, you can have a one-of-a-kind property unique to you. On the other hand, spec homes are multiple properties with similar designs and finishes.
Generally, spec homes take a shorter time to build depending on the scope of the project. Homebuilders work with a strict timeline that they adhere to in order to ensure that the houses are ready for the market as soon as possible.
On the other hand, custom homes take longer as the design phase can take up to 6 months. The construction timeline varies depending on the complexity and size of the house.
The cost of constructing a custom home depends on the size, design, and quality of fixtures and features you want. It can be as affordable or expensive as you want.
Spec homes might be cheaper. Most are built using mid-range materials and fittings. The builders also enjoy economies of scale, which can significantly reduce the cost of production. Besides, spec homes are priced as per the market rates to enable them to sell quickly while maximizing profits.
Book an appointment with us today to explore which option is right for you.
