While several people prefer buying a house that someone else has lived in, there are others who do not favor the idea and would like to buy something new. There are several advantages to purchasing a newly built home after all. It needs to be efficient, in good condition, clean, although this does not always happen. Whenever we talk about new build homes, you have two options. The first one is the custom home that has been specifically designed for you, with all the details you want. The second option is referred to as the spec home, which has advantages and disadvantages.
What is a spec home?
Knowing what a Myrtle Beach spec home is important. It comes by different names depending on where you are located. Sometimes it is called a move in ready home, featured home, immediate delivery home, and inventory home. A spec home is a house that was designed and constructed by a builder without any buyer in mind. The builder took the chance that he will manage to sell the house once it is near completion or it is completed. It would seem that the builder is taking a chance here, hoping that a homebuyer will pick the house he has built. Therefore, the architecture is going to be based on a standard plan, perhaps using a design that is well known in the neighborhood that he is building it in. Generally, the fittings will be referred to as contractor or builder grade, although some builders can offer to have them upgraded for an extra price.
Advantages Of Buying A Spec Home
There are three primary advantages to buying a spec home – you can move in right away, the house is completely new, and you can see what you are purchasing.
Move In Ready – a spec home is commonly put up for sale when it is almost completed or already finished. And since the builder wants to sell the home quickly, the homebuyer can also move in right away. There is one thing that can delay the process and that is your lawyer, who will make sure that all things are in order, but once they get through the legal process swiftly, you can move to your new home in just a few weeks. Because of this, a spec home is an excellent choice for home buyers who want to move into their new home right away; may it be your first home, or you want to leave your rental home before the month ends.
It’s Brand New – If you are paying for a custom home, it will take a while before you start to see it take shape and as you wait, you tend to worry about the quality of the craftsmanship. If you go for a spec home, you will get to see what you will get before you buy it and you will have the chance to check every corner of the house to make sure that you are happy with everything.
Disadvantages of Buying A Spec Home
Your lack of choice is the biggest advantage linked to buying a spec home. Since the house is built based on another person’s decision, buying it means you have to live with it. These include accepting its current architectural style, the internal layout, as well as room configuration. A spec home is not a good choice if you are someone who likes to be unique and wants to have a home that is different from the others in a neighborhood.
This is also applicable to the finishes including the paint colors, lighting, appliances, as well as kitchen and bathroom fittings. In most cases, the builder selected the items he can get at a special rate for contractors, and even though they might be of good enough quality, they are most likely not high end, which means you need to live with these things or choose to change them but you have to shoulder the expenses.
As mentioned earlier, you might have some say on the finishes but that will depend on how close to completion the spec home is. Although you can be offered to choose from a list of options, so even then the decision is not completely your own.
Important Things To Remember When Buying A Spec Home
If you are still thinking of buying a spec home, you need to remember some important points. Although the home is completely brand new, that does not necessarily mean that everything is in good condition and working order. You should get a home inspection so that the electrical, plumbing, HVAC and more can all be properly checked by an unbiased and independent home inspector. You should select the inspector yourself and avoid going with the one recommended by the builder.
You should also hire a real estate agent to assist you through the buying process. You don’t have to pay for this since the builder will take on the cost, however, their experience will be invaluable and help you save a lot of time and headaches.
Lastly, do not forget to ask if you are allowed to change some aspects of your home even if it is already finished since some builders will permit this. A few good examples are flooring and paint colors. Some builders also provide an upgraded appliances package to homeowners who are interested.
Wednesday, December 5, 2018
The Pros and Cons of Buying A Spec Home
While several people prefer buying a house that someone else has lived in, there are others who do not favor the idea and would like to buy something new. There are several advantages to purchasing a newly built home after all. It needs to be efficient, in good condition, clean, although this does not always happen. Whenever we talk about new build homes, you have two options. The first one is the custom home that has been specifically designed for you, with all the details you want. The second option is referred to as the spec home, which has advantages and disadvantages.
What is a spec home?
Knowing what a Myrtle Beach spec home is important. It comes by different names depending on where you are located. Sometimes it is called a move in ready home, featured home, immediate delivery home, and inventory home. A spec home is a house that was designed and constructed by a builder without any buyer in mind. The builder took the chance that he will manage to sell the house once it is near completion or it is completed. It would seem that the builder is taking a chance here, hoping that a homebuyer will pick the house he has built. Therefore, the architecture is going to be based on a standard plan, perhaps using a design that is well known in the neighborhood that he is building it in. Generally, the fittings will be referred to as contractor or builder grade, although some builders can offer to have them upgraded for an extra price.
Advantages Of Buying A Spec Home
There are three primary advantages to buying a spec home – you can move in right away, the house is completely new, and you can see what you are purchasing.
Move In Ready – a spec home is commonly put up for sale when it is almost completed or already finished. And since the builder wants to sell the home quickly, the homebuyer can also move in right away. There is one thing that can delay the process and that is your lawyer, who will make sure that all things are in order, but once they get through the legal process swiftly, you can move to your new home in just a few weeks. Because of this, a spec home is an excellent choice for home buyers who want to move into their new home right away; may it be your first home, or you want to leave your rental home before the month ends.
It’s Brand New – If you are paying for a custom home, it will take a while before you start to see it take shape and as you wait, you tend to worry about the quality of the craftsmanship. If you go for a spec home, you will get to see what you will get before you buy it and you will have the chance to check every corner of the house to make sure that you are happy with everything.
Disadvantages of Buying A Spec Home
Your lack of choice is the biggest advantage linked to buying a spec home. Since the house is built based on another person’s decision, buying it means you have to live with it. These include accepting its current architectural style, the internal layout, as well as room configuration. A spec home is not a good choice if you are someone who likes to be unique and wants to have a home that is different from the others in a neighborhood.
This is also applicable to the finishes including the paint colors, lighting, appliances, as well as kitchen and bathroom fittings. In most cases, the builder selected the items he can get at a special rate for contractors, and even though they might be of good enough quality, they are most likely not high end, which means you need to live with these things or choose to change them but you have to shoulder the expenses.
As mentioned earlier, you might have some say on the finishes but that will depend on how close to completion the spec home is. Although you can be offered to choose from a list of options, so even then the decision is not completely your own.
Important Things To Remember When Buying A Spec Home
If you are still thinking of buying a spec home, you need to remember some important points. Although the home is completely brand new, that does not necessarily mean that everything is in good condition and working order. You should get a home inspection so that the electrical, plumbing, HVAC and more can all be properly checked by an unbiased and independent home inspector. You should select the inspector yourself and avoid going with the one recommended by the builder.
You should also hire a real estate agent to assist you through the buying process. You don’t have to pay for this since the builder will take on the cost, however, their experience will be invaluable and help you save a lot of time and headaches.
Lastly, do not forget to ask if you are allowed to change some aspects of your home even if it is already finished since some builders will permit this. A few good examples are flooring and paint colors. Some builders also provide an upgraded appliances package to homeowners who are interested.
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