Moving to a new home can be an adventure. There are contracts to write, preparations to be made, and deals to be debated, and amongst all that hype, a seller had better have their new home already arranged. If it is not arranged quickly, one could find themselves out of a place to live very quickly. Usually, a selling agent will help get the process of buying a new home started, but in the case of those wanting to build their new home, having a place to go may not come as quickly as anticipated. If the construction of a new home is not started months before a person’s current residence is listed for sale, they could quickly find themselves without a home. So what is there to do if one wants to have the comforts and unique features that are usually associated with new and custom homes?
The answer: purchase a spec homes Spec homes, what are they?
In short, a spec home is a custom built home that the builder had built with no particular buyer in mind. These homes tend to be a bit more generic in their design, but they are usually still outfitted with a number of great features that would only come in a custom home. The term spec home is an abbreviation for the phase speculative home. Building a home without a buyer in mind is a speculative investment for the builder and could potentially cost them more money.
On occasion these are called ‘Move-in ready homes’ and they are the perfect solution to the dilemma presented above. Since a spec home will be put for sale in the final stages of its construction, even a late comer can get a semi-customized home without the wait.
Why Would I Buy a Spec Home?
There are plenty of reasons to buy a spec home. For instance, the move-in ready aspect. Spec homes are inherently convenient. They are also usually a better option for people looking for a custom home than buying a previously lived in home. This convenience makes up 90% of the reason people buy spec homes, but there are a few more. For instance, if someone wants to buy a home that is new, but doesn’t want to go through the building process, a spec home allows them that freedom. However, if they buy it earlier on in the building processes, they may be able to have some input on the finishing touches of the home, which are much easier to handle than building the whole thing.
Spec home quirks
Since there is usually no buyer in mind, the builder gets to choose everything that goes into the home. This can result in a spec home being a little more eccentric than a buyer would have originally planned to buy. For instance, a builder could opt for a rustic tower being built in the corner of the home, or an exotic porch or patio. Now, these kinds of drastic quirks are not guaranteed, but more than likely it will be in the form of the home having granite countertops or hardwood floors when the buyer would have gone with linoleum.
Who builds spec homes in Boise?
Almost every builder that operates out of Boise builds some sort of spec homes. This means that almost every style of home can be found and something that satisfies the buyer’s tastes will sure to turn up in a search.
Some of the more well-known builders in the area include Boise Hunter Homes, CBH Homes, James Clyde Homes, Alturas Homes, Paradigm Construction, and Hubble Homes. These are not the only builders available, however. There are hundreds of building companies in the Treasure Valley alone that operate in both Ada and Canyon counties, giving buyers many homes to choose from and many locations as well.
What are the pros of a Spec Home?
There are many things to love about spec homes, and some will love the idea, however, there may be some who don’t. Here are the pros to buying a spec home.
They are Move in ready
Having a move in ready home at your fingertips is invaluable if you are working with a deadline. It allows for a quick and relatively painless move.
They are not pre-owned
Moving is hard enough as it is, but if you move into a new home and realize you have to clean up after the previous owner, the process will be much more difficult. No one wants to buy another person’s mess, but with a spec home, that won’t happen since they are fresh and new. A buyer can see the finished product
One of the downsides to building your own home is that you won’t really know what it will look like until it is finished and by that point if you don’t like how it looks, it’s too late. With a spec home, however, allows a buyer to see the product for what it is and know exactly what they are getting.
What are the cons of a spec home?
Here are some of the cons of buying a spec home.
Buyer has little to no input
This may not bother some people, but when buying a spec home, don’t assume you will be able to change anything. Some builders might let you have some input, but it is not guaranteed.
A buyer may pay for things they don’t want
Because these spec homes are made to the specifications that the builder sets, sometimes features granite countertops, an extra bedroom, and other such additions may be added to the home and the buyer will have to pay for them even if they didn’t want them.
The home may not have everything they need or want
This is the opposite of the previous con. In a spec home, there may not be everything that a buyer wants or needs. If there are any specific things that are not normally added to a home that the buyer wants, there is a strong likelihood that it will not be included.
After examining all the pros and cons, the word speculative is the best word for these types of homes. If they fit your needs, then they are perfect, otherwise, they may not be for you.
If you want to learn more about spec homes in Boise, or building in Boise, contact one of our agents and they will be happy to help you.