What is a "Spec" Home?

McCormick-and-CamelbackWhen a builder has crews available, or he is trying to sell lots in a certain section, or for any number of reasons, he will begin to build a home on the "speculation" that someone will want to buy it. There may or may not be Specs available at any given time. All of the choices that go onto the city permit to build are already made: elevation, left or right garage, patio extensions, garage conversions etc. Depending on the building stage the buyer may have choice in selection of paint, cabinets or flooring and countertops, or the home may be completed and ready for occupancy. It is an opportunity to own a brand new home without the long wait to have it built.

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