Speculative Houses Or Custom Homes - Which One Is Best For You?
Speculative houses and custom homes are two great options for the prospective home buyer that's interested in something brand new and tailored to their desires. They both allow personalized designs to be incorporated into the house, and they help avoid the risks and costs associated with buying pre-owned houses. However, both come with their own specific drawbacks. If you are interested in buying a new house without any prior use, then you will need to understand your options.
Custom Homes
Custom homes allow the prospective home-buyer to be highly involved with the home building process and allow more flexibility in design than any other form of home buying. Custom house builders eschew stock house designs in favor of an individualized home plan. These contractors will build on land that you, the home-owner, have already bought. You will also be working with an architect to design the house itself before construction begins.
Additionally, you will need to have your plot of land prepared for construction before your house can be built. This requires a review of local zoning regulations, along with coordination with your builder of choice so that the qualities of your chosen plot of land can be incorporated into your future home's design. You will also need to coordinate gas, sewer, and water lines with your new home and the surrounding area. Some new home buyers prefer to have less hassle and time involved in their home buying decision than custom homes typically entail. In this case, they frequently turn to so-called "speculative homes."
Speculative Homes
Speculative homes are houses that home builders have built on their own property without a specific buyer in mind. They are typically built up completely save for the parts that you might want to personalize, such as carpet and paint colors. They are an excellent choice for buyers short on time or energy. So long as your builder of choice is trustworthy, you won't have to manage the land itself to ensure it's ready to be built on nor will you need to work with an architect.
Speculative or "spec" homes offer many advantages for anyone rushed into home-buying, but don't offer the flexibility in design that custom houses do. The house structure and land are already designed and built for you, and your involvement in adjustments is minimal at best. Some prefer it this way, but if you want a new home with as many bells and whistles that you can afford, then a speculative house may not be the best option.
Overall, custom homes and speculative homes offer a variety of benefits and drawbacks for the new-home buyer. Those looking for something quick and relatively risk-free are more likely to benefit from speculative houses than those with ample time, money, and energy. Meanwhile, those wanting a highly personalized, designer home over something easily accessible are more likely to want to start from the ground up with a custom house. Whichever option you choose for your designer home, it's important to take the proper precautions necessary for home-buying in any form.