Building your own house is the dream of many people, but it is often easier said than done with many difficult decisions to be made and research to be done. Some people are happy to buy a spec house and some people prefer a custom built house. There is the perception that custom houses are more costly, but are custom house builders more expensive than a spec house?
A spec house is one that is built by a builder and then sold by them to a buyer. These houses are built before there is a buyer and the builder uses their own money to build it and then recoups the cost after the sale. A custom house is one where the buyer contracts the builder to build their house for them.
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Due to the nature of both styles of homes custom house builders generally produce more unique constructions than those that are produced in spec homes. Spec homes are designed to appeal to the needs of a large proportion of people since it is built without a specific buyer in mind.
Custom house builders consult with the buyers over design, style, fittings, landscaping – every element of building a house is up for discussion when you are building a custom house. For this reason custom houses can be more expensive than spec houses.
The final cost of a custom home versus a spec home depends entirely on the design features and fittings that the buyer decides to put into their home. The home does not necessarily need to be more expensive than a spec home, but if you put in higher quality fittings or complicated design features, then this will drive up the price.
Spec homes are also generally build by large construction companies that are operating in bulk and may be able to reduce the cost of building homes and pass on the saving to buyers as well. Since the builders use the same house design over and over again, they do not have to use the services of architects or draftsmen to the same degree that someone building a custom house would have to and this is another cost saving.
Since spec homes have building laborers that are constantly on the go building what it essentially the same design, they become faster and more efficient at completing the house, which is another saving for the construction company which can drive down the cost of the house.
Buying a spec house can be cheaper than having a custom house builder design and construct a house for you. When you are tossing up between the two styles of builders you need to consider whether the difference in price is a major factor for you or whether you would prefer to have more control over the design and look of the house you are buying. When you have a custom house built you can have it built to meet your family’s exact needs. A spec house may come with elements that are not perfect for your family or lifestyle.