Pall Spera Company Realtors-Stowe, VT
Pall Spera Company Realtors-Stowe, VT
Teresa Merelman , Pall Spera Company Realtors-Stowe, VTPhone: (802) 793-5171
Email: [email protected]

New construction home buying process: Knowing your options

by Teresa Merelman 11/23/2022

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
Author

Teresa Merelman

Hi, I'm Teresa DeLuca Merelman and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a Realtor professional by your side. I'd be honored to put my real estate experience to work for you.

My designations/certifications include ABR, CRS, SRS, e-PRO, GREEN, SRES, RSPS, SFR and AHWD. The education behind them enables me to do a better job for you - whether a seller or a buyer!