The real estate industry has many terms for different types of houses and listings, including Spec Homes.
As you begin your search for the perfect home, you might find that there are a lot of confusing terms that you don’t understand. Even the most client-conscious real estate agent may forget that those they’re working with won’t know all the jargon. The real estate industry has many terms for different types of houses and listings, including Spec Homes.
What Is A Spec Home?
In short, Spec Homes are newly built homes that a building company is making using the most common preferences in the hopes that someone will want to buy it — as with custom home building, buying a Spec Home ensures that you are getting a newly constructed home, which can be a great way to go. The Spec market may differ wildly depending on where you live, but in general, they’ll follow the same patterns. Other names can include featured homes, immediate delivery homes, inventory homes, and move-in-ready homes. If you are interested in one of these styles, it may be best to work with an agent who specifically works with new homes.
What Are The Downsides?
The downsides to purchasing a Spec home are relatively short. If you’re looking for a newly constructed home, and aren’t too picky about the interior, a Spec home can save you a considerable amount of time and even some money. That said, if you are looking for specific, custom features or unique styles, a Spec home may not be for you. Spec homes are built based on the most common market trends, which means they’ll feature designs that will appeal to as many people as possible.
What Are The Advantages?
Buying a newly constructed home is a great way to ensure that when you move in, you’ll have a perfectly clean, blank slate to work with; old houses can be great, but they can also be a worry as there could be hidden damage. With a Spec home, you get all of the benefits of new construction without the time or cost risk of a custom build. Most Spec homes will be sold when they are fully or nearing completion; this means that you will have a wait of 30 to 60 instead of a six-month delay. Additionally, you’ll have the full cost of your home up-front; one of the most significant risks with custom homes is that the cost of the build could change midway through, completely altering your budget.
Questions? Call Cedar Square Homes Today!
Whether you are ready to start the custom building home process, or you still have more questions, the trained professionals at Cedar Square Homes are here to help you out. We are beloved throughout Maryland and beyond for our attentive service and affordable home remodeling and building prices. We service Anne Arundel County, Annapolis, Crofton, Severna Park, and Pasadena. Visit us online or give us a call at 410-987-9771. To see more examples of our work and for helpful tips and tricks, be sure to follow us on Facebook, Twitter, and Pinterest!