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
Cary Garcia
As a real estate broker licensed in Virginia, Maryland, and Washington, D.C., I work strictly by referral. For over 20 years, my success has hinged entirely on detailed, efficient service to clients like you.
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Finding a real estate agent is easy. Finding a skilled agent is the hardest…What separates me from other real estate agents is my extensive knowledge of contract law. You need an agent who understands the legality of the contract by enforcing the terms of the offer as well as all of the contingencies, addendums and disclosures. Before signing the offer, I will thoroughly explain the contract in detail, so you understand what you are committing to.I bring an expert’s perspective to help buyers and sellers make the right decisions.
Because I understand the legal and highly emotional aspects associated with real estate transactions, I am able to provide expert guidance to help you make informed and educated decisions. In addition, I’m very skilled at project coordination.
With so many people involved in the home sale process, I know how to create satisfying resolutions and make the process go as smoothly and successfully as possible.