What Is a Spec Home?
What do you do when you want a brand new home but don’t want the long wait that comes with building from scratch? This is where a spec home could be ideal for you. As a respected home builder in MN, Key Land Homes can meet either need, with homes built specifically for you or spec homes that are brand new and without the long wait.
The term spec home simply means a speculation home. It’s a brand new home – often one of the most popular floor plans – that is built without an existing buyer. There are plenty of people who want a new home but can’t wait, so these homes are an ideal option. You still get a modern floor plan that meets today’s buyers’ needs, without the extra wait.
A spec home may not provide the same customization options, but you see what you’re getting and builders choose sizes, styles, and finishes that are likely to appeal to a variety of buyers. You still have the benefit of a brand new home, which means you’re unlikely to have any major costly repairs for a number of years.
In some cases, if the home isn’t completely finished yet, you can still purchase it with a much shorter wait period and the possibility of choosing a few custom finishes such as paint colors, tile, or hardware, depending on how much of the construction is finished and what your budget is.
In fact, one of the many perks of a spec home is that the final price is clearer because there aren’t as many options that can quickly increase the cost of a home, as often happens when building from scratch. Plus, financing is typically faster, because once the home has its Certificate of Occupancy and an independent appraisal, lenders can finalize the mortgage with you and you can lock in your interest rate.
Spec homes are a great option when you want a new home but don’t want the wait or the pressure of making lots of choices. As a home builder in MN, we build a number of spec homes in excellent communities, providing modern homes in attractive locations. To learn more, contact us today to find your ideal spec home.
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