Jul 1, 2020

4 Advantages of Buying a Spec Home

The 2020 real estate market is on fire and is in no danger of slowing down here in metro Phoenix. This fast-paced climate has resulted in a resurgence of spec homes. These are also referred to as inventory houses, move-in ready homes, quick move-in homes, or homes under construction. Call them what you will, buying a spec home offers four unique perks that could sway any buyer.


1. Quick Sales Turnaround


With many homes selling in days and even hours, the sales cycle has been dramatically reduced. Often customers are under contract with their existing home and are now looking for something move-in ready. A sense of urgency sets in, making the spec home a popular choice. A spec home is already under construction or has finished construction. This suits your buyer’s timeframe because their new spec home can be closed on in as little as a few weeks! This perk means buyers can enjoy their brand new home almost right away instead of having to wait months for a new build.


2. Tangibility


A spec home allows buyers to try it on before they buy. Blueprints, models, and computer mock-ups can be great, but a spec home allows buyers to explore their new home top to bottom. They can envision their furniture in the space and bring their tape measure to see if it will fit. They can view the professionally coordinated paint colors, cabinetry, and finishes. They can even take a peek in their pantry. This concrete experience can be the key buyers need to picture themselves in their new home.


3. Eliminate the Lengthy Home Building Process


Swatches and samples not a buyer’s idea of a good time? Then a spec home fits the bill. For some, the hassles of building from scratch outweigh the potential joys. The sheer number of choices can overwhelm a buyer. Instead of combing through dozens of options in a design center and trying to imagine the finished creation, you can check out any of the already built spec homes.


4. Completely New


Spec homes combine the freshness of a new build with the convenience of a move-in-ready home. A professional design consultant uses today’s most popular styles to create wow appeal and time-tested style. Older homes are often dark and boxy, leaving potential buyers counting the dollars for all the paint they’ll want to change and walls they’ll want to tear down. In contrast, today’s spec homes are bright, welcoming, and airy with taller ceilings and more open floor plans.

From a functional standpoint, buyers can trust that their spec home is updated and problem-free. Built to the exact standards of today’s codes and chock-full of modern heating, plumbing, appliances and more, a spec home will be low-maintenance and worry-free. This not only saves buyers long-term stress and time, it also saves them money.


Buying a Spec Home


In this robust real estate economy, many builders have now increased the number of spec homes they’re constructing. Just a few years ago, builders deemed constructing a spec home risky – they needed a contract in place before beginning the build. In today’s fast-paced market, however, builders are confident in their investment to start construction of inventory homes prior to securing a buyer as they compete with the hot resale market.


Buying a spec home ensures that a buyer gains all the perks of an expedited sales cycle, a brand new, current build, being able to try before they buy, and eliminating the building process. With all this to gain, many buyers are choosing a spec home in which to hang their hat in 2020.


REA Scoop is a map-driven mobile and desktop platform that provides realtors and home buyers with up-to-date information about new home communities and spec homes in Phoenix, Arizona, and surrounding cities. For more information, please visit our website today


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