Pros and Cons of Buying a Finished Newly Built Spec Home in Houston
- Patrick Martin
- May 27, 2017
- 2 min read
Many buyers in Houston real estate market prefer the idea of buying a new constructed builders spec home. Builders will locate an attractive lot and prepare building plans to construct a home for this very purpose. There are many advantages of buying a completed spec home and a few drawbacks as well.
Spec homes can be a far less emotional process and simplify the home buying experience for a home buyer over building a new custom home. As well many home buyers fret over the fact that it is not possible to find a perfect home to fit their needs. Although a spec home is not devoid of its sacrifices. Let us evaluate the pros and cons of purchasing a spec home.
Pros of Buying a New Constructed Spec Home in Houston
Delayed cost of upgrade: Usually, before you invest in a spec home, you verify that all your lifestyle requirements get fulfilled. One great advantage of buying a new constructed home over an existing home is that you will have a warranty. Most respectable builders will provide an extended mechanical and structural warranty with the home. This dramatically reduces the cost of maintenance. Chances are rare that you will be required to remodel immediately. You can take your time and upgrade it in future if you need modifications.
Ability to move quickly: Immediately as you close on the property, you can move into your new home. You need not have to arrange for a temporary housing and there is little waiting time either. It has all the privileges of an existing property with all of the benefits of a new home.
Cons of Buying a Spec Home in Houston
No option to change the layout: It is not easy to change the floor plan or the home layout of a prebuilt house. Suppose you buy a finished spec home in Houston, at the desired location for a good price. It is a smart idea to buy the home even when there are short comings with the floor plan and home design layout. Generally it is not cost effective to remodel a finished new home, but a may be an option in the coming years.Some people might find the process to be cumbersome. However, if you buy the home while it is still under construction, the builder may be able to work with you on redeveloping the home design in Houston, it will reduce the chances of requiring to remodel at a later time.
Higher cost of home insurance premium: The cost of home insurance premium is higher for a newly constructed home compared to an existing older home. This is because of the replacement cost and expensive features of a new home. Although newer homes can save you a good deal of money due to the energy efficiency codes required today.
Buying a spec home is a personal judgment just like buying an older home. For homebuyers that do not have the time, patience and energy to build a custom home, this is a viable option.
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