Spec home building, where you build a custom home speculating that you will be able to sell it, is a popular investment trend in the real estate market today. If you are thinking of getting into this market and are looking for a quality custom home builder with the expertise and experience to work with you, contact Conlin Premier Construction today. You can trust Conlin to listen to your plans and then take those ideas and make them a reality. Conlin has gained a reputation for being a reputable builder that takes the greatest care in all of their projects which will make them the perfect spec home building partner.

What Is Spec Home Building?

One of the latest trends in real estate today is spec home building. A spec home is one that you build under the speculation that you will find a potential buyer who is willing to purchase the house. This means that these brand new custom built homes are completed or almost completed before they have actually been sold. There are many pros and cons to this approach.

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There are both pros and cons to spec home building

Pros for the Seller of Spec Home Building

Easier to Sell than Existing Homes:​​ Spec homes are brand new custom homes, therefore they should be easier to sell than older existing homes. This is because there are little or very few problems with them because everything is new and under warranty.

Less Competition:​​ Like custom homes, spec homes are unique and high quality. Therefore, there are fewer homes on the market at any time that can compare with them. This means that the competition is lower, so it is often easier to sell them.

Potential Large Return on Investment:​​ If your spec home sells quickly, especially if it sells before it is completed, you have a great potential to make a large return on your investment.

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Spec home building is a great investment as long as your house sells quickly

Pros for the Buyer of Spec Home Building

Save time: A lot of time is involved in building a custom home yourself. You have to spend time researching and deciding on the perfect design, layout, features and finishes that you want and that will go together well. Even once the initial decisions are made, you will find yourself having to take the time to make additional decisions throughout the building process.

If you purchase a spec home, you will still be getting a custom built home, but someone else will have put in all of the time to make these decisions. Usually they are professional designers who already know the "right combinations of architecture, colours, and finishes" that go together perfectly.

Save Money:​​ Many spec home builders build multiple homes and therefore have greater purchasing power because they can purchase some materials in bulk. They may be able to pass this savings onto their buyers.

Simpler Financing: Getting financing for a spec home is usually easier than arranging financing for a custom home that you build yourself. Most spec homes can be purchased once they are complete so they are similar to buying an existing home.

Quicker Move In Date: Spec homes are usually already completed or are close to being completed, which means that you don't have to wait for months to move into your new home.

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Purchasing a spec home means that you will probably have a much quicker move-in date

Cons of Spec Home Building for the Seller

Difficult to Find the Right Buyer: Even though the benefits of spec home building could be great, there are large risks involved as well. Because you are custom designing a home without the actual buyer involved, you are taking a big risk that you won't find a buyer who actually likes your choices.

A Slower Sale Will Eat into Your Profits:​ The longer your spec home stays on the market, the more your profits will be decreased as you have to pay the interest on the loans that you have taken out to finance your project. If the house sits on the market too long, you may also be forced to lower your price in order to sell it. This will further cut into your profit.

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When purchasing a spec home you may be paying for features that you don't actually want

Cons of Spec Home Building for the Buyer

May Not Be Exactly What You Want:​​ If you are purchasing a spec home that is well on the road to completion, many of the design and feature decisions will already be made and implemented. They may not be the features that you want. However, if you purchase a spec home earlier on, you may be able to choose some of the features that you do want.

Price May Include Features You Don't Want: Purchasing a spec home may also mean that you will be getting features that you don't actually need or want. This is also true, however, if you purchase an existing home. But unlike purchasing an existing home, with a spec home you are getting a brand new house. You may be willing to overlook paying for the extra feature for the advantage of being able to move in much sooner than if you build a home from scratch.

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Spec home building continues to grow in popularity in the real estate market
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Whether You Are Building a Spec Home or Your Own Custom Home, You Can Trust Conlin Premier Construction

Kawartha Lakes home builder, Conlin Premier Construction is a quality custom builder who takes pride in every home they construct; you can trust Conlin to build your perfect spec or custom home at an affordable price. If you are looking for a custom spec home, for an investment, built exactly to your specifications and with the high quality you want, contact Conlin Premier Construction. You can rely on Conlin to help you build a house that is perfect for you and your family.

At Conlin, we do all of the work ourselves and we have our own sub-contractors who do the mechanical work. This means that we are in charge of the quality control on every part of your home's construction, from start to finish. And we make sure that you are with us all through the process. Your complete satisfaction is our ultimate goal and that is why we prioritize excellent communication.

The following video will further explain why Conlin is the best for custom homes in Kawartha Lakes.

If you are looking for a premier builder in the Kawartha Lakes region that you can trust, talk to the professionals at Conlin and then contact us today for a no obligation quote.