TRENDING | BUYING A SPEC HOME
Hopewell Residential
SPEC HOME OR BUILD NEW?
WHAT EXPERTS SAY by PEPPER RODRIGUEZ
To paraphrase the movie “Field of Dream”: “Build it and they will come.” That seems to be the entire idea behind spec homes. A spec home is industry speak for a home that is built before a homebuyer makes a purchase. It is constructed using builder specifications (hence, “spec”) and most are move-in ready or at least available for a quick possession. Homebuilders offer spec homes because not every homebuyer has five to eight months to wait for their new home to be built. This also allows builders to keep their tradespersons busy. 28
New Home + Condo Guide | June 25–Aug. 6, 2021
So, what’s the difference between building a new home for yourself or buying a spec home? We’re glad you asked. We spoke to a couple of homebuilders to give us some tips and insights on the difference between the two. EXCELLENT TIMING
As in all of life, timing is a major part in the home-buying decision. Depending on a buyers’ circumstances, a spec home where they can move in relatively quickly might be better. Or if they have the time and customizing or personalizing the living space is important to
them, then going the pre-sale route may be more applicable. “It all comes down to what the client’s needs are,” says Robin Nasserdeen, Director of Sales at Coventry Homes. “The one thing is that whether building a pre-sale home, or buying a spec home, you are still getting a new home that no one has lived in before. You get the full value of a new home.” The common misconception, he says, is that spec homes are of less quality. “That’s not true at all, at least the way Coventry Homes makes it,” he says. “One’s not better than the other, it simply depends on what the client needs
