5 Things First Time Home Buyers Should Know About Spec Homes
Image taken by Diana Walton
Hello there! Thank you for being here. As a first time home buyer, when you are ready to purchase your home, if you choose to purchase a brand new construction, you will most likely be purchasing a spec home. So, you maybe asking yourself what is a spec home?
Spec homes are new construction homes in which the builder picked all the options, such as paint color, cabinets, garage door, elevation design and the layout of the home. You do not get to choose or make any design selection for this type of spec home. You get to view the home and buy it as is without any changes. With this spec home, you sometimes get to choose the lot as well and pre selected options. You are not able to make any changes to the pre selected options.
The second type of spec home, is where you get to choose, the lot, brick color, stone color, flooring, island color, cabinet color, style, height and more. You will choose materials only from the builder’s inventory. You will not be able to special order anything outside the builder. For example, if you saw flooring at Lowe’s that you just have to have, you will need to get it installed after closing because with spec homes, the builders will typically not modify the floor plans.
These homes are also called inventory home, If you have ever viewed a DR Horton model home for example, you were viewing a spec home. These homes are usually move in ready and the builder will not allow you to make any changes. That being said, here are a few benefits of buying a spec home:
They are affordable when compare to custom homes.
Most are usually ready for immediate move in.
They are either completed or soon to be completed.
Upgrades are usually build into some spec homes.
Sometime generous incentives are offered.
If you are ready to purchase your first home, a spec home may be the ideal choice for you. In addition to the above benefits, the process of purchasing a brand new construction spec home is less stress and less hassle. Generally, with spec homes, every facet of the homes has already been selected, all you have to do is choose the floor plan and elevation that will accommodate the needs of your family. In addition, some builders have their own mortgage company, title company and insurance company, so everything is streamlined under on roof.
As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana
