Purchasing a home is one of your most significant investments. If you choose to purchase a new home, there are three general types to choose from: custom, spec, and production. To make sure you purchase a new home that will fit your needs, it is important to understand the differences between these types of homes.
Related Blog: How Long Does It Take To Build a Luxury Custom Home?
Read on to understand the difference between a custom home, a spec home, and a production home.
What Is The Difference Between A Custom Home, Spec Home, And A Production Home?
Custom Home
A custom home is just that - built custom to you and your design, needs, and lifestyle. You have total freedom and control when it comes to which design and features are used and can create a home that is your exact vision. Building a custom home allows you to have input on every aspect of your home, including layout, room size, finishes, and adding in any additional special features like a movie theater or a sauna room.
Advantages of Custom Homes
- It gives you the freedom to design your dream home
- You decide on the quality of construction materials
- It gives you the responsibility to choose the contractor to work with
- You choose the location to build your home
Spec Home
In a spec home, you may not have the freedom to pick the finishes or layout and are instead buying a pre-designed home that a developer is building. However, depending on when you buy it, you may have an opportunity to customize some aspects of the home during the build process. Depending on when you engage the developer and/or builder you may have control over the types or quality of materials used in the structure, but you may not if you engage them after those details have been completed.
Timing is everything when purchasing a spec home, as this is ultimately the deciding factor on how much room for customization you have, if any at all. Some builders do not allow customizations on spec homes, so this will also depend on the developer.
Advantages of Spec Homes
- Move in sooner than if you were building a custom home
- They can offer faster closing times because much of the design process is already complete and they are generally already underway in the build process.
Production Homes
Production homes are often referred to as “cookie-cutter” homes because it involves the same house design used over and over again. They are typically found in neighborhoods that are built by large-volume homebuilders. There are usually several different design models so you can choose the layout or plan you like best. They typically offer very few, if any, customizable options.
Advantages of Production Homes
- There are usually multiple models to choose from to suit your needs
- Bulk purchase of construction materials reduces the overall cost
- You can usually customize the color and finishes package
All three different types of homes have their unique advantages and disadvantages. From a price perspective, production homes are generally the most economical and custom homes are generally more cost-intensive, all other variables being equal.
If you are looking to work with an experienced general contractor, The Aerial Companies can help. We have over 40 years of experience and not only use durable materials and deliver quality work but also ensure your project is completed on time. Contact us today to request a consultation.
