The new construction home buying process differs significantly from the buying process for an existing home. However, one thing that remains the same in each case is that no two homes are exactly alike.
While it’s common for newer developments to have “cookie cutter” homes with similar layouts, many builders have options for customization.
Here is a basic explanation of the major types of new construction home options you’re likely to encounter:
Tract homes
Tract homes are built as part of a large development on a single piece – or tract – of land. Tract homes are mass-produced and usually built quickly, making them an excellent choice for prospective homeowners who don’t want as long a process as a fully custom home would entail.
However, these homes can be almost identical in floor plan and features. While very affordable and convenient, they do lack built-in customization options.
Spec homes
A spec home is a brand-new, move-in-ready home. These homes are sold strictly as-is, so any desired changes and upgrades are your responsibility. The “spec” in spec homes comes from “speculative,” meaning the builder has created a unique design for a particular market.
Therefore, spec homes can vary greatly in style and features, making them a great option for buyers who want something beyond the cookie-cutter of a tract home development.
Semi-custom homes
As the name suggests, a semi-custom home is only partially customized by the prospective buyer. These homes come with many of the structures and features set by default, and others you can customize.
Some builders provide catalogs of options for things like materials, finishes and layouts. Spec homes will generally have the same exterior style, but the interiors depend on the choices of each buyer.
Custom homes
A fully custom home is built to the buyer’s every choice. Working closely with an architect and real estate agent, buyers determine every single detail of the home, from architectural style to light switch location.
While the design and building process mean countless decisions, if you have a vision for the perfect home and a larger budget, a custom new construction house might be the best choice for you.
Every home purchase is different, and even once you decide between new construction and existing homes, you have important choices to make. Keep these new construction options in mind to make the best decision for your future home.
About the Author
Debbie Caldwell
When you first meet Debbie Harris-Caldwell, you are immediately drawn to her charming Welsh accent and the twinkle in her eye. The well-traveled transplant from Wales is quick to set you at ease and time spent with her promises to be time well spent.
Debbie has been a real estate agent for 40 years and takes great pride in her customer service skills. "I make myself available to my customers when they need me, whether it's on a Sunday Evening or after their long day at work. I make my schedule fit theirs. I also keep my customers updated on everything happening with their listings or purchase, I am their conduit for information." She has built a business following her key principles of clear communication, attention to detail, client advocacy, and comprehensive knowledge of the area. Debbie comes to every new transaction with positive energy, determination, a strong understanding of the currents driving the market, and the expertise that comes from a lifetime of experience. She knows the importance of marketing and whether a home is for sale for $200,000 or for $2 million, she always has professional photography done and creates a listing presentation that best shows off her customer's home.