Everyone would love to build a brand new home. For many though, there are a variety of reasons that keep a new home build candidate from signing on the dotted line to move forward and take part in the process and decision-making that goes along with building from the ground up.
When we think about building a new home, there are two options to consider. The first is a semi-custom home that has been designed specifically for you, with all the details that you wanted and selected as well as the excitement of watching this new home take shape from groundbreaking until the day you are handed the keys.
The second option is a “spec” home. A spec home is a house that has been designed and constructed by a builder without a specific buyer in mind. The builder has taken the chance that he will be able to sell the home once complete, or near completion.
Obviously, the builder is taking a little bit of a gamble here, hoping that a buyer will come along before too long. Because of this, he wants the home to appeal to a broad market. The floor plan, therefore, will be based on what most people desire in a home, probably using a design that’s popular for the surrounding neighborhood. The interior and exterior selections are carefully chosen by the builder’s design team and will also be based on what they see as “must have” colors and selections that most of their current new build customers choose and find most appealing. Depending on the stage at which you find and fall in love with your ready to move in home, some builders may offer the chance to upgrade for an extra cost.
Who Buys These Homes?
There are two primary segments of the market that purchase a spec home. There are those that want the benefit of moving into a brand-new home but don’t want to wait the customary six to eight month time period to build new. Some can’t visualize a new home from looking at the blueprint or simply don’t want to subject themselves to the myriad of decisions that they must be involved in to bring their new home to completion.
The other is a relocation client looking for a home in the new city that they will now call “home,” either for a career advancement, to be closer to family and friends or simply to make a climate or lifestyle change.
After years of staying put, the percentage of workers relocating for a new job in 2016 climbed 35% from the year prior. With the economy gaining momentum, people are more confident in the job market, willing to move and set up home in a new and different city.
For the relocation client, a new home offers the opportunity to move into a brand new home in a relatively short period (usually 30-45 days). Also, the buyer can see exactly what they will be getting; if there is still time and all of the selections have not been ordered and completed, they can place a few more personal touches through paint colors, flooring or other easy décor enhancements.
We Can Help You Find Your New Home
Petros Homes has always been a leader in New Home Builder market in Northeast Ohio. Realizing the demand and value attached to ready to move in homes, the company has always had a healthy selection of spec homes in many of their communities. While their building collection ranges from townhomes to limited maintenance to single family homes, their three-decade strength of building in the local market allows them to secure the necessary financing. This creates the benefit of having several ready to move homes in all price ranges in their “For Sale” collection.