Building a House or Buying a Spec Home?

There are advantages to both of these possibilities. A spec home is built by a builder who buys a lot or land within a certain development to solicit interest by buyers who don’t want to take the time to build from the foundation up. The spec home promotes the builder’s assets and distinctions within a particular neighborhood. In a spec home, there are very few choices left for the homeowner to choose from. Much of the colors, textiles, appliances, paint, and flooring are already in place. Spec homes are different from model homes. These are usually the last homes to be sold in a neighborhood that is almost built out.

Building a home from the lot up is different in terms of aesthetics, amenities, colors, textures, and layout. You will wait longer to occupy a home built for you, but it will have everything you want. First, you must select a lot the builder owns and has plans to build upon. You have to agree upon the model choice or selection of the home that a particular builder provides. Once you’ve agreed on the lot and building plan you are ready to go. The builder will take on any risk involved because they have already purchased the lot with the idea of building one of their homes on that property.

Those considering a spec home have the advantage of a quick move-in and occupancy of the home. However, there may still be some customization you can request for the building in regard to carpet, flooring, sod, fencing, etc. What are the neighborhood HOA restrictions or limitations?

When selecting a spec home make sure you have toured multiple offerings of the home model the builder is providing. Review the attention to detail and the overall design, layout, and conveniences within the home. Imagine your furniture and living within such a layout. Is it conducive to your lifestyle? Are the entryways cumbersome or awkward? Do you feel safe in this home? Are the home amenities in keeping with your tastes and desires?

Drive through the neighborhood at different hours to see if there are distractions you would rather avoid. Is the street well lit for security purposes? Are people mingling or out in the evening or mornings on weekends? Inspect the drainage system of the home and determine if you think it can handle run-off water from heavy storms, etc.

Finally, ask yourself if this is a place you can live and imagine your family living? Is it safe? Are there issues I’m blind to because of my excitement for a new home? What is the builder’s reputation within the neighborhood? Do they follow up on warranty claims and foundational issues, or are they difficult to deal with?

Do your homework in regard to late-night distractions or police calls. Is this a place that you consider safe for your family in terms of traffic, crime, and night activity?

There are multiple considerations to make when building or purchasing a spec home. The final decision is up to the buyer which is why you need to do your homework and research.

Ask your realtor about neighborhood social events and seasonal gatherings. Are they scheduled, is there an HOA committee that is responsible for them? What do they offer? These are valid questions and developments worth their salt will be happy to provide answers. Asking these questions ahead of purchase/building will be lifesavers in the long run.

O’Neal Village is a “traditionally-designed” or “mixed-use” community on approximately 195 acres in Greer, South Carolina, O’Neal Village is what neighbors call the perfect balance of living, work, and play just minutes from the best of Greenville and the Upstate. Nestled among gently sloping hills, O’Neal Village features a variety of crafted, single-family homes, townhomes, retail, and creative distinct amenities.

O’Neal Village
info@onealvillage.com
25 Noble Street
Greer, SC 29652
A TRG Community