What’s a “spec?”
Today we explain the differences between a custom home and a spec home – and what that means to your buying process. Check out today’s video to learn the pros, the cons, and why you may or may not want one.
Video TranscriptGood morning morning peeps Diane and Randall bro here hello hello hello we are here to share with you uh some of our some information about what a speck home is yes a lot of people don’t seem to understand the concept Speck home yeah so Speck home is short for speculative yep right so the uh it’s not speculative on the buyer part it’s speculative on the Builder part so this is a home they don’t have a buyer for they uh design the home they build the home in anticipation of finding a buyer while it’s under construction while it’s under construction so a lot of this is a lot of the parts of the home are predetermined yes the paint color the exterior the elevation of the home the interior I like Speck homes because sometimes they add a little bit more extra yes it’s not necessarily A stripped home actually sometimes they add in some some pretty good extras that if you were to build it yourself you might cost you more money yeah um so they kind of are betting uh that you know they start construction they are floating alone while they’re building yes so they’re going to make it special and nice to attract that buyer to come in and snatch it a lot of the a lot of the money or the the the the cost associated with building a home is driv driv by the custom process so people come in and they want to change things and those things need to be redesigned redrawn um and you know you need to get the change of materials you got to find suppliers you know all that takes time and effort and money and but if they do a speck home they they don’t have to go through all that that’s right they call the shots they usually get an interior designer to come design something beautiful have a beautiful color scheme it all Blends together and then they can just spit it out they just follow the the the program and get it out and give you a quality home yes with a lot of nice extras yes so but you should know that with a spec home you cannot make a lot of changes yes most Builders are like we will not pro quote right so you’re getting a lot of house for a good price uh your home’s going to have broad appeal a lot of times when people build custom homes they think they know better than the builders and they make changes and when it comes time to sell sometimes it’s it’s harder because the home does not have broad appeal right it’s so specific to that owner back homes will always have broad appeal correct the the choices that they make will have broad appeal yes uh and Builders they kind of know what they’re doing because if they screw up they lose money so they learn pretty fast yeah so you get a lot for your money the quidd pro quo is that you can’t make a lot of changes you really can and we know from building our own home uh yeah I was like do you think maybe we could move this window no uh can we do this no no no because it just uh loses time in the build sometimes they can’t find whatever you might want to change um again you lose more time which is money to them you know because they’re still paying on this loan while they’re building and they’re like we can’t find this item you want yes so you know know when you sign on a spec it’s a spec for a reason yeah you cannot do a lot you cannot make a spec home a custom home um some Builders may work a little bit with you if if you come in yeah if you come in early in the building process they might let you pick a different color or you know things like that but for the most part they don’t even like to do that because if you fall through for whatever reason that’s you can’t buy then they’re going to have to sell a home and you you’ve picked out the color right so a lot of may not attract the other which may not attract a lot of people so a lot of times in spec homes you know we’re going to put in Builder grade carpet can I change the floor no can you just leave the carpet out no we’re going to put the carpet in and you’re immediately going to have to tear it out and put the floor down that’s the process that’s the spec home and a lot of Builders will hold you to that yes it it’s kind of it doesn’t seem to make sense but the reason why it does is because you’re not costing them money you’re not costing them time they’re able and in in exchange for that they they kind of give you a barn yeah you do you get more of a loaded home I think yeah so when you’re considering a spec home the the pluses are you know not a lot of problem or decision makings that you have to make it’s made for you um so if you like the product and you like what they have it’s like this is awesome great maybe some things may not be your cup of tea maybe they’ll work with you a little bit but you should know you’re probably going have to get exactly what they offer you because that is what a home is get out of their way let them finish the home and then make whatever changes after your closes that’s right that’s our advice to you and bu but you can get something really beautiful with really beautiful one of the things we wanted to clarify is that in a lot of people’s mind a speck home is stripped no usually it’s the opposite usually the speck homes are dulled up yeah they add some kind models us up yeah to entice you yeah all right so that is our tidbit on Speck hom so if you’re thinking about it know that you know you pretty much have to go with the product they have selected unless you get before they’ve even poured a slab then maybe you might have some different colors to pick from you know but most of the time it’s like here’s your four colors that’s it what do you want that’s right so keep that in mind because you don’t want to be disappointed will try really hard to make everybody happy the buyers and the we want everybody happy and enjoy their new home so just go with the process and try not to fight it too much it’ll you know help you with a a better stress level definitely yeah definitely so anyway that’s our Spiel on Speck homes they can be amazing you can get a lot of stuff uh for a great price yep and uh it takes out like I said a lot of the decision making and pulling your out so it’s kind of nice yep all right so that’s our deal oncc Speck homes specom that’s our tip of the day that’s our tip of the day if you’re into tips the place to go is pickle 411.com that is our free information site whether you’re a buyer seller somewhere between there’ll be something there waiting for you that will Amaze Astound entertain inform yep all those things overwhelm all of it all right Kajol Kajol that’s a good word that’s a I don’t even know what that means I like that word convinc yeah alred alred Alfred all right friends we hope to hear from you soon and H make sure you visit Prescot we’d love to see you absolutely bye bye