5 Things Houston First Time Home Buyers Should Know About Spec Homes
As a first time home buyer, when you are ready to purchase your home, if you choose to purchase a brand new construction, you will most likely be purchasing a spec home. So, you maybe asking yourself what is a spec home?
A spec home is new construction home in which the builder picked all the options, such as paint color, cabinets, garage door, elevation design and the layout of the home. Spec homes usually includes several floor plans for you to choose from.
With spec homes, every facet of the homes has already been selected, all you have to do is choose the floor plan and elevation that will accommodate the needs of your family.
As a real estate broker, I sometimes work with home buyers that asked the builders to add this or remove that from the home they are purchasing, and in most cases, the answer is no. Why? because they cannot modify the blueprint. I know it does not hurt to ask, but this is just a heads up.
These homes are also called inventory home, If you have ever viewed a DR Horton model home for example, you were viewing a spec home. These homes are usually move in ready and the builder will not allow you to make any changes. That being said, here are a few benefits of buying a spec home:
They are affordable when compare to custom homes
Most are usually ready for immediate move in
They are either completed or soon to be completed.
Upgrades are usually build into some homes
Sometime generous incentives are offered
If you are ready to purchase your first home, a spec home may be the ideal choice for you. In addition to the above benefits, the process of purchasing a brand new construction spec home is less stress and less hassle. Most builders have their own mortgage company, title company and insurance company, so everything is streamlined under on roof. Thank you so much for stopping by. Until next time Diana
