Are you building a new house? Buying a spec home or building a custom home is one of the first big choices you have to make. A developer creates a spec home without a specific customer in mind. When it’s done, it’s basically ready to move in. On the other hand, a bespoke home is built from the ground up to fit the buyer’s particular vision. This article will explain the main differences so you can choose the one that works best for your style, budget, and schedule.
What Is a Spec Home?
A spec home is like a “ready-made” house. Builders build spec homes with popular designs and finishes in the hopes that they will sell quickly. Some of the best things about spec homes are:
- Move-in ready: You can move in right away because spec homes are usually fully completed or almost done. This is great if you need a new home immediately.
- Lower initial cost: Spec homes usually cost less up front since builders buy materials in bulk and use the same designs over and over again. These savings come from being more efficient, which can help make a new home more affordable.
- Predictability: When you buy a spec home, you know precisely what you’re receiving. You can see the layout and finishing of the finished home (or model) before you buy it. The price is normally set, so there aren’t many surprises after closing.
Drawbacks of spec homes: The bad thing is that you can’t make it your own. You usually can’t change the floor layout, cabinets, or fixtures in a spec home because they are made to appeal to a lot of people. The designs are often “cookie-cutter,” which means that your house can look a lot like your neighbor’s. To save money, builders often utilize less expensive materials, which can mean less high-end finishing. You will probably have to pay more after you buy if you want a different countertop or floor. In brief, spec homes are easier to buy and cost less, but you have less control over the final design.
What Is a Custom Home?
A custom-built luxury home exterior that meets all of the buyer’s needs. A spec home is not the same as a custom home. When you create a custom home, you first pick (or buy) the land and then work closely with architects and builders to plan every last element of the house. You may choose the layout of the rooms, the sizes of the rooms, the finishes, the fixtures, and even things that aren’t visible, like a sound system or solar panels. Your vision shapes the design of a custom home, making it one of a kind.
Key advantages of custom homes include:
- Full personalization: Everything is made just for you. You can make a kitchen and dining space that are open to each other, a bathroom that seems like a spa, or a closet that fits your needs. This unique design will make your home perfect for your way of living.
- Location choice: You choose the lot. Want a backyard with trees, a view of the lake, or merely the best school district? When you build your own home, you get to choose where it will sit instead of having to accept the builder’s lot.
- Quality and craftsmanship: Custom builders and architects frequently pay a lot of attention to the quality of the materials and the job they do. We personally supervise all the work, from putting down tile to painting trim, to make sure the finishing is perfect. You can also install features that are energy-efficient and good for the environment. These features will save you money on your utility bills and add value over time.
- Long-term value: Custom homes tend to keep their value well because they are made of better materials and have a distinctive design. People who want to resell generally like unique touches and high-quality work.
Drawbacks of custom homes: Custom homes usually cost more per square foot than homes that are already built. You are paying extra for quality and personalization. It also takes longer to build custom things. Plan on waiting a long time (typically a year or more) before you can move in, from design and permits to building. Some people find it exhilarating to have to make a lot of decisions. Financing can also be more difficult (you’ll probably require a construction loan). Lastly, you need to get land first, which might be hard in desired regions like the Chicago North Shore. We offer full real estate services to assist you in choosing a lot and planning your budget.
Which Home Is Right for You?
It depends on your priorities. In general:
- Choose a spec home if: You need a home quickly and want fewer decisions. You can move into a spec home quickly and know how much it will cost. You like the notion of a new house, but you’re fine with the style and details that the builder chooses. If you’re on a budget and want things to run smoothly, this is a fantastic choice.
- Choose a custom home if: You have a clear vision and must-have features. You are willing to wait longer and pay more to acquire what you desire. You also want to be able to change your mind about the location or lot. If you want a home that really shows off your taste, you might want to think about custom.
For instance, a lot of people who want a gourmet kitchen or a one-of-a-kind layout in their Chicago North Shore home choose to create it themselves. If your family has special needs or you want certain features in your home, such as a gym or home office, bespoke allows you to design them from the start.
How to Decide: A Quick Checklist
- Timeline: Do you have to move soon? If so, a spec home might be easier. It usually takes 9 to 18 months to develop something custom.
- Budget: Be honest about the costs. Spec homes usually cost less up front. You can choose the materials for your custom home, and with proper planning, it can be created to fit your budget.
- Personalization: Make a list of the things you need. If none of the spec homes have them, you can add those features to your custom home. A spec home works if you’re okay with a nice model home.
- Location: Do you have a specific lot or neighborhood in mind? Custom lets you pick your own land. The builder decides where to put spec homes.
Answering these questions will help you figure out which path is best for you. And if you’re not sure, our team is here to assist you in understanding the choices.
Building Your Dream Home with Tom Len Custom Homes
If you want to build a custom home, picking the appropriate builder is quite important. For more than 20 years, Tom Len Custom Homes has been the best home builder on the North Shore. We start by hearing about your dream home, from the smallest details in the kitchen to the overall style of the property. Thanks to our full-service real estate knowledge, we can even help you identify a suitable lot and make a budget.
We have a group of the best architects and interior designers working on your project. We undertake most of the construction work ourselves (including laying tile, hanging cabinets, painting, etc.) to make sure the work is of the highest quality. By doing things this way, we can make sure that every part of your home meets our high standards. Our clients trust us because we are competent, pay attention to detail, and get great outcomes. People on the North Shore recognize Tom as a trustworthy builder whose work lasts.
We will help you with every step, from the first ideas until the day we give you the keys, whenever you are ready. We do everything we can to make the custom-building process go as smoothly as possible so you can enjoy seeing your dream house come together.
Ready to start? It’s a significant decision to choose between a spec home and a custom home, but you don’t have to do it by yourself. If you live in Chicago’s North Shore and want a home that fits your needs, let’s speak. To set up a free consultation, call us at (847) 205-9200 or get in touch with Tom Len Custom Homes. We are very excited to make your dream come true!
Frequently Asked Questions
A developer builds a spec home (short for speculative) without having a specific customer in mind. You can usually move in right away because it’s already built or almost done when you buy it. A custom home is designed from the ground up to fit the buyer’s specific needs. Before the building starts, you choose the layout, finishing, and features.
“Spec” is short for “speculative.” It signifies that the builder built the house with the idea of selling it, but they didn’t have a buyer lined up yet.
Yes, in general. Custom homes normally cost more up front because they employ high-quality materials and require a lot of design effort. Spec homes are cheaper at first because builders can save money by buying in bulk and using the same plans over and over.
Spec homes go up faster. You may move in in a few weeks or months because they are already completed or almost done. It takes longer to build a custom home—usually many months of planning and building.
Not much. You usually can’t adjust the layout or finishes of spec homes because they are made to appeal to a wide range of people. If you want to make it your own, you should get a custom home.
Custom homes are one-of-a-kind houses built to a homeowner’s specifications. You work with architects and builders to personalize everything – the layout, style, and materials – so the result is unique and tailored to you.
