With a spec home (short for speculative home), a home builder designs and constructs a single-family home without having one individual buyer in mind. But, in the realm of new construction, there are three different approaches buyers can take: Typically, when someone says they’re planning to build their own home, they are referring to a fully custom build where they have a say in almost everything (short of items restricted by local laws and zoning regulations). Buyers who decided to build new homes were more likely to say that selecting the floor plan, having everything in the home be brand-new and customizing their home features were among their top reasons.* Before deciding if new construction is for you, you’ll want to learn about the different types of new-home construction and familiarize yourself with the process, from the initial land search all the way to selecting finishing touches. If you can’t find your dream home on the market or if you want to create a home that’s uniquely yours, you might consider building a house. Understand the process of building a house.
