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Common Questions Buyers Have About Buying a “Spec” Home

A speculative home — or spec home, for short — is a brand new house that’s built without a specific buyer lined up. Once the home is near or at completion, the builder lists the home for sale, which gives potential buyers the opportunity to move into a brand new home without having to wait out a long construction process.

But is a spec home the right option for you? A recent article from realtor.com answered common questions about spec homes, including:

What are the advantages of buying a spec home? Purchasing a spec home offers a variety of benefits to buyers, including no construction stress and on-trend styles and features, as the house is already built, and are generally built to be on-trend and attractive to current buyers.
What are the disadvantages? While buying a spec home does have its advantages, the purchase does also come with potential downsides, including a lack of customization options (as the home is already at or near completion) and a high price tag.
What should you look for in a spec home? If you do decide to buy a spec home, it’s important to do your due diligence. Research the builder, their past builds, and any reviews you can find. You’ll also want to make sure to get clear on any additional logistics (like potential HOA fees or available warranties) before you move forward.

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