Custom Homes vs Spec Homes

A custom home is a one-of-a-kind house that is designed and built specifically for an individual client. When you choose a custom build home, the goal and purpose is to fully execute your ideas and designs. Custom-built houses are a collaborative effort that requires working with a builder. Most of the details for the interior design (like paint colours, countertops, lighting, finishes, etc.) are yours to choose and select.

Spec homes on the other hand are homes that are built from a plan that the builder determines. Spec houses are also called speculative builds since their purpose is to be bought or flipped and sold, so the builder “speculates” which type of house will turn a profit or attract future potential buyers. Builders occasionally will have a certain type of buyer in mind when building a spec home (such as at-home professionals, empty-nesters, etc.) but generally, spec homes have a variety of features that can appeal to a wide audience.

Some of the benefits of choosing a spec home over building a custom house include: 

• Faster move-in time
• Less decision-making
• Resale value 

Since spec houses are nearly complete or complete before they’re sold, it is easier to move in without delay. If you’re someone who wants a hassle-free purchase, great! But if you’re someone who can be a little particular about certain features, you may want to consider other options like a custom home. Since the floorplan, appliances and features are pre-selected by the builder there is less decision-making on your part to do, but this can be a double edged sword.

Additionally, since spec homes are built with features that would appeal to a large audience this can help you if you choose to resell your home in the future.

Now some of the cons of building spec home are: 

• Choice of design
• Location
• Turnaround

Now as previously stated, since spec homes already have a pre-selected floor plan, appliances and features by the builder you won’t have control over the construction or design. This brings our next point, you also won’t have much say in the location of the home.  Chances are the builder will already be working on the home when you are thinking about purchasing. 

Finally, builders may be in a rush to close your deal and move forward with other projects. So if you are still in the process of selling your home, you may want to close before looking into your new spec home.

The pros of building a custom home can include: 

• Flexibility with construction, design and features
• Location selection
• Your wish list conceptualised 

When you build a custom home, you really are able to execute any idea you had in mind and have your preferences of materials too! The construction, design, appliances and features are all up to you and your team, you can easily collaborate with your builder on bringing your ideas to life. With a custom build, you also can select your location specifically.

Custom builds are exactly as they imply, a completely customizable project for out that can be tailored to every need and want of your family.