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Now, you face the small task of working out exactly what home you’d like to build. And the first step of that journey is deciding whether you’d prefer to build a spec home, or a new build.
One’s not necessarily better than the other. But you’ll probably find that one is a better fit for your personal situation. Here’s what you need to know to work out which one that is.
A spec home is a brand new property that is completed, or nearly completed, before it is sold. The home’s layout and flooring and its appliances and features are chosen by the home builder, not the buyer. This makes for a much simpler and cheaper planning and building process, but, if you go for this option, it also means you will own a house that is almost identical to numerous others.
A new build is a home that is built from scratch, based on architectural drawings that take into account the buyer’s input. New builds are more customisable than spec homes, but involve a longer planning and building process, meaning buyers have to wait longer to move into their new home.
Take a look at the pros and cons below, to help you decide which one is right for you.
Whether you go with a new build or spec home will depend on your personal needs and preferences. If you’re the type of person who enjoys being involved in every step of the way, a new build might be the way to go.
But buyers who want to avoid a lengthy construction process and would prefer a quicker move-in should probably opt for a spec home can be an excellent option.
That said, when looking to build a new home, it pays to consult with an experienced builder – one who has a proven track record, is customer focused and is financially secure.