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Spec Homes vs. Custom Homes

Custom Homes, Spec Homes | May 6, 2022

If you are considering buying a new home, you may have considered purchasing a spec home or hiring a custom home builder. While both options are a great choice, they have many differences. As a leading provider of spec homes and custom homes for all types of families and lifestyles, the team at Ridgepoint Homes knows how difficult it can be to determine which option is right for you. That is why we have outlined some of the key differences between spec homes vs. custom homes to help you make an informed decision that aligns with your wants, needs, and budget.

Learn about some safety features that every spec home and custom home should have.

What is a Spec Home?

Also known as a speculative home, a spec home is a brand-new property that is finished or near completion but has not been sold yet. This means that all the home’s features including the layout, flooring, and appliances are all chosen by the custom home builder based on their speculation of what a buyer will be looking for in a home.

Pros

Benefits of spec homes include:

  • Typically more affordable than a custom home due to the reduced labour requirements and build time.
  • Since spec homes are completed or near completion, you can move in faster.
  • Usually easier to resell due to the more “generic” style of the home as it will appeal to more buyers.

Cons

Potential drawbacks of spec homes include:

  • Little to no control over how the house is built. For most spec homes, what you see is what you get.
  • You do not get to choose the location, meaning that the home may be in an area that you do not like.
  • Could require upgrades or changes to make it precisely as you want it to be.

What is a Custom Home?

A custom home is a type of home that is specifically built for an individual customer. This means that the homeowner will have a say in everything from the home’s floorplan to the selection of colours and materials used throughout the design. When building a custom home, it is best to think of the home building process as a partnership between the homeowner and the custom home builder as both sides need to work together to ensure that everyone is satisfied with the final product.

Pros

Custom homes offer the following benefits:

  • Complete control over the design, fixtures, and materials, ensuring that every single element is exactly as you want it to be.
  • You choose the location and size of the lot, allowing you to select the perfect neighbourhood.

Cons

Potential drawbacks of custom homes include:

  • Typically more expensive than spec homes due to the increased labour and material costs.
  • Longer lead times than spec homes.

To learn more about our spec home and custom home solutions, get in touch with the team at Ridgepoint Homes. We can be reached through our online contact form and will be happy to answer any questions you may have regarding our services or the details of your project.