Buying a home, whether it’s your first or your fifth, is an exciting venture. Because a home is likely one of the largest purchases you’ll ever make, it’s important to choose a home you’ll love. In Utah, the housing market is growing quickly, and two of the most common options for homebuyers are spec homes and custom homes.
What Are Spec Homes Vs. Custom Homes?
Both spec homes and custom homes are excellent choices for anyone seeking a brand-new home. If you’re unfamiliar with what each of these entails, here are the basics.
Spec Homes
A spec home, short for speculative home, is a house that a builder constructs without a specific buyer in mind. These homes are typically built in anticipation that a buyer will come along once the house is completed or nearing completion. Spec homes are often built in developments with multiple homes being built or already available for sale, and they are designed to appeal to a wide range of potential buyers.
Custom Homes
A custom home is a one-of-a-kind build that’s specifically designed for a buyer. This type of home is custom-built or created from a highly personalized plan. Custom homes give the buyer full control over design elements, allowing for a truly unique home. The process often involves working closely with an architect and a builder to ensure the home reflects the buyer’s vision and desires.
What Are The Differences Between Spec Homes and Custom Homes?
While both spec homes and custom homes are new builds, the way they are built and their overall designs vary significantly, which impacts factors such as cost, timeline, and the level of personalization you can expect. Understanding these differences can help you make a more informed decision.
Cost
Spec homes are typically more affordable than custom homes because they are built with standard materials and designs that are chosen by the builder in bulk. Builders can take advantage of economies of scale, making spec homes less expensive for the buyer.
Custom homes can cost significantly more. Since these homes are tailored to the buyer’s exact specifications, the price reflects the quality of materials, unique design features, and customization.
Construction Time
Spec homes are usually built much faster than custom homes because the builder has already planned out the design and selected materials. With the foundation and structure in place, spec homes can be completed quickly.
Custom homes usually take longer to build due to the complexity of the design process. From working with architects to approving custom plans, the construction timeline is lengthier as every detail is carefully planned to meet your specific requirements.
Design and Customization
In a spec home, the design and layout are pre-determined by the builder, leaving little to no room for customization. If you’re looking for a move-in-ready home that doesn’t require any changes, a spec home is ideal.
A custom home provides an unparalleled level of design freedom. With a custom home, you can choose everything from the floor plan to the materials used, ensuring that your home meets your specific needs and tastes.
Location and Availability
Spec homes are often built in planned communities or developments, where multiple homes are being constructed or are already available for sale. These developments offer a sense of community and convenience, but you may have limited options when it comes to location.
A custom home offers more control over where your home is built. You can choose a lot that suits your needs, whether it’s in a rural area, a suburban neighborhood, or on a plot of land with a scenic view. However, please note that only specific lots are designated for building custom homes.
Quality and Materials
Spec homes use more standard materials to keep costs down. While these homes are still of high quality, the choices are typically more mass-produced and cost-effective.
Custom homes often feature superior finishes and materials. Custom homebuilders work with you to select the best materials based on your preferences and budget, giving you control over every aspect.
Resale Value
Spec homes, because they are designed to appeal to a broad market, tend to have more predictable resale values. They are often located in established neighborhoods and have features that are in line with current market trends.
Custom homes may appreciate at varying rates. Since they are tailored to the buyer’s tastes, a custom home could be harder to sell if potential buyers don’t appreciate the unique design. However, if the custom home is built with high-quality materials and in a desirable location, it could increase its value over time.
Risk and Flexibility
With spec homes, the risk is relatively low since they are already built or nearly finished. The buyer can see exactly what they are getting and move in sooner.
Custom homes involve more risk. There could be delays, changes, or unforeseen challenges that arise during the building process. However, they also allow for more control.
What Are the Key Benefits of Spec Homes and Custom Homes?
After exploring the differences between spec and custom homes, you likely have a better sense of which option aligns with your needs. To make the decision even easier, reviewing the unique benefits of each can help you identify which features matter most to you and guide you toward the best choice for your future home.
Spec Homes
Planned and built to a specific plan, these move-in-ready homes offer:
- Affordability and Quick Availability
- Simpler Buying Process
- Less Stress
If you are ready to move and can find a floor plan you like, this type of new home can be very convenient.
Custom Homes
Finding a builder who offers fully customized homes can be challenging, but the benefits include:
- Complete Design Freedom
- Tailored Features and Functionality
- Superior Quality
If you want your ideal home to match your vision, this is the route to go.
Spec Home Vs. Custom Home: Making the Decision
For many homebuyers, deciding between a spec home or a custom home is a difficult decision that has been years in the making. However, after understanding the key differences and benefits, you may be better equipped to determine which option is right for you. The next step is choosing a trusted builder.
Steve Austin Homes, located in the Weber/Davis area, offers both spec homes and custom homes. As one of the few builders in Utah still offering true custom home builds, we specialize in turning your dream home into a reality. Whether you’re interested in a quick and affordable spec home or want to create a custom masterpiece, our team is here to help you through every step of the process.
Ready to learn more? Contact us today to explore your options and get started on your journey to a brand-new home.