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Should I Buy a Spec Home or Build a Custom Home in 2020?

Posted by John Graziose on Tue, Nov 12, 2019 @ 14:11 PM

If your current home no longer meets your family’s needs, you might be considering the best housing options. One question you might be asking yourself is, “Should I buy a spec home or build a custom home in 2020?” Let’s take a look at some of the pros and cons you’ll want to consider—and whether the coming year is a good time to make a move such as this.

Building a Custom Home

Farmhouse Kitchen in Custom Home in Rochester NY

Pros: The advantages of building a custom home are fairly obvious. You get to design a floor plan that best suits your specific needs. In many cases, you have the option of choosing the lot you want. You determine what finishes you want for your flooring, your cabinets, and your countertops. Additionally, you can also create a bathroom or a kitchen that is designed to enhance your lifestyle—and your sense of design. For many custom homeowners, there is a great sense of satisfaction in knowing that the home has been designed and built specifically for their comfort and convenience. And they enjoy the knowledge that no one else has ever lived in the home before them.

Farmhouse Living Room in Custom Home in Rochester NY

Cons: Building a custom home generally costs a bit more than purchasing an existing spec home. The exact amount will vary depending on the features and material required. Over the long haul, however, the value of the home is likely to remain higher. And given the fact that higher quality building means that fewer items will need to be replaced, it may make more fiscal sense. Some people choose not to build a custom home because they don’t want to wait to move in. Others simply don't want to deal with the decisions involved in the custom home building process.

Learn more about building a custom home in our FREE Custom Home Guide!

 

Buying a Spec Home

Pros: One benefit of buying a spec home is that it has already been built. This means that you not have to wait for construction to be completed before you can move in. In addition, most spec homes are located in newer communities, so the infrastructure (streets, sidewalks, sewers) is new as well. You also have the advantage of knowing that everything in the house is brand new from floor to ceiling. And if there are ever any issues, they’ll most likely be covered by your warranty. From a financial perspective, you will probably pay somewhat less for a spec home than for a custom home.

Livingroom in Spec Home in Rochester NY

Cons: Purchasing a spec home, however, still means accepting an existing floor plan. You may have to adapt your lifestyle to the layout of the home. Additionally, you won't have the same opportunity to add your own personal touches to your home as the selections have already been made. One last disadvantage is that you may have less choice when it comes to location or lot. The home you like best may not be on the lot you prefer, however building a custom home will give you the freedom to build anywhere that you'd like. 

Custom Home in Rochester New York

Ultimately, the choice of buying a spec home or building a custom home depends on what best suits your needs. If you’d like to explore the idea further, we build in several great communities in the Greater Rochester area and have dozens of beautiful floor plans that can help you start your planning for a custom home that will meet your family’s needs.

Schedule a Consultation to Build a Custom Home in the Greater Rochester area

Topics: Custom homes, buying a new home, Building a New Home

Prepare Yourself Before Attending Homerama in Rochester NY this August

Posted by John Graziose on Wed, May 9, 2018 @ 16:05 PM

Prepare Yourself Before Attending Homerama in Rochester NY this AugustAnybody considering building a new home in the Rochester area will want to arm themselves with as many ideas and inspirations as possible before jumping into the homebuilding process. Attending Homerama in Rochester, NY is a great way to gather that information and inspiration. And while perusing the properties for ideas may be great, the more prepared you are, the more you’ll benefit from the experience.

Here are a few tips to ensure you maximize your time and come away with knowledge that will help you find the perfect Rochester home for your family.

Do a Little Homework

It’s important that your new home fits your lifestyle. Before you begin to look at homes, take some time to think about how you’ll use your home. You’ll want to consider what size home fits your family’s needs. How many bedrooms will you need? How do you entertain? Will you need a larger family room in which to interact with guests? What about your kitchen? Will you use your kitchen for entertaining? Or do you hope to use it for gourmet cooking? Here’s a post that helps you match your new Rochester kitchen to your specific personality.

Think About Floor Plans

Reviewing some potential floor plans before you look at a finished model home can be helpful. Do you prefer an open style floor plan? Are you looking for a plan that has bedrooms on one level and common spaces on a separate level? Or are you considering something that offers single-level living? Take a look at the floor plans Gerber offers to see what appeals to you. Then you can head over to Homerama and see what a plan like that looks and feels like in real life.

First-time Buyers

If you’re looking to build/buy your first home it’s easy to get overwhelmed by all the options. You’ll want to focus on what’s really important for you and your family at this point in time. That being said, you’ll also want to keep in mind what your family’s needs may look like down the road a few years. Here’s a helpful post that highlights some of the essentials that first-time homebuyers look for.

Establish the Essentials

It’s not just first-time buyers who should consider the essentials. Before you get too far into the process, you may want to establish what’s essential in your new home so that you’ll be happy with it for years to come. Consider making a list that’s divided into three categories: “Must-Have” features; “Nice-to-Have” features; and “Splurge” features.

Consider Your Budget

Thinking about your budget ahead of time is really smart. You’ll want to have a realistic budget in mind before you begin choosing plans. It really doesn’t make sense to look at a $400,000 home if what you really need is a $250,000 home. Here’s a look at how to create a realistic budget for your Rochester-area home. You may also want to visit a reputable lender to see what kind of a loan you qualify for. That can help you set realistic parameters before you get into the details of floor plans, finishes, and upgrades.

Educate Yourself About the Basics

As builders, we’re often asked a lot of basic questions about home design. We think that’s a good thing! That’s why we created a free Home Design Guide eBook that you can download for free. It provides basic information about how to design key rooms in your home such as your kitchen, bathroom, living room, and master bedroom. This guide goes beyond style and talks about the importance of function in good design.

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Topics: Model homes, Custom homes, buying a new home, Building a New Home, Homearama