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Spec Homes

Spec Homes in Windham, Tolland, and New London County CT.

What is a Spec Home?

To start, a spec house (short for speculative house), is a new house constructed on the speculation that it will sell easily for a profit. Theresa & Company designs these move-in-ready homes to be as appealing to home buyers as possible.

 

In other words, a spec home is built on the speculation of what home buyers are looking for. For example, we include ample amenities and upgrades, or build a spec home in a quality neighborhood. Our team takes careful note of the real estate market and trends to determine where and what to put in our spec homes. 

How To Buy A Spec Home

The process of purchasing a spec home is similar to that of a traditional property. You need to decide how to finance the home purchase and what type of mortgage works best for you. A benefit of buying a spec home is it’s often a quicker process than buying a custom or new construction home.This is because spec homes are move-in ready. To accelerate your home-buying process even further, you can start by getting an initial mortgage approval before starting your search. If you know you want to buy a spec home, starting the approval process and getting Verified Approval shows that you’re a serious homebuyer. It can also give you a competitive advantage when you decide to make an offer on a spec house. 

Pros of buying a Spec Home

  • They’re move-in ready
  • The home are brand new 
  • You don’t have to worry about installing new cabinets or countertops
  •  The roof is brand new, so you don’t need to worry about it being in bad shape. 
  • You’ll move into a quality home immediately.

What’s The Difference Between A Spec Home And A Custom Home?

A custom house is a unique house designed for specifically for you and for a particular location. This involves working directly with Theresa & Co. to plan and select all the details that you want for your home.

On the contrary, a spec home does not allow you to choose the details from start to finish – most items are already chosen for you by us. However, we design these according to what we know buyers desire. They’re more affordable and move-in ready which is very appealing to many home buyers and real estate investors alike. Give Theresa & Co. a call today and we’ll answer any questions you may have about either process.

Get In Touch With Theresa & Company Today!

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