If you’re looking for a new home in Franklin, TN, you may be wondering whether a spec home or a custom home is the better choice. Both options have their advantages and drawbacks, and the best choice depends on your budget, timeline, and personal preferences.
In this guide, we’ll break down the key differences, pros and cons, and decision factors to help you make the right choice.
What Is a Spec Home?
A spec home (short for speculative home) is a house built by a developer without a specific buyer in mind. These homes are usually built in new communities and feature pre-selected layouts, finishes, and upgrades.
Pros of Buying a Spec Home
- Move-In Ready – No waiting for construction; you can buy and move in quickly.
- Lower Cost – Generally more affordable than a fully custom home.
- Less Decision-Making – Design choices are already made, reducing stress.
- Established Communities – Often located in planned neighborhoods with amenities.
Cons of Buying a Spec Home
- Limited Customization – You can’t personalize layouts or finishes.
- Potentially Higher Competition – Desirable spec homes sell quickly.
- Standard Features – May not include high-end or unique design elements.
Best for: Buyers who want a faster, more affordable option and don’t require full customization.
What Is a Custom Home?
A custom home is built entirely to your specifications, from floor plan to materials, fixtures, and finishes. This option gives you full control over every detail of your home.
Pros of Building a Custom Home
- Total Personalization – Everything from the layout to the finishes is designed for you.
- Higher Quality Materials – Often includes superior craftsmanship and premium features.
- Built for Your Needs – Designed for your lifestyle, whether it’s open-concept living, a home office, or an entertainment space.
- Long-Term Value – Custom homes often have higher resale value due to unique features and quality construction.
Cons of Building a Custom Home
- Longer Timeline – Building a home takes 6-12 months or more.
- Higher Cost – Custom homes are more expensive due to specialized design and materials.
- More Decision-Making – Requires time and effort to choose every detail.
Best for: Homebuyers who want a one-of-a-kind home, have a flexible timeline, and are willing to invest more in a truly customized space.
Cost Comparison: Spec vs. Custom Homes in Franklin, TN
| Feature | Spec Home | Custom Home |
|---|---|---|
| Price Range | $$ – More Affordable | $$$$ – Higher Cost |
| Customization | Minimal | Full Control |
| Build Time | Immediate or a few months | 6-12 months+ |
| Quality & Materials | Standard, mass-produced | High-end, premium selections |
| Resale Value | Dependent on market trends | Typically higher long-term |
Tip: Financing options differ between spec and custom homes. Custom home financing often requires a construction loan, while spec homes can be purchased with a traditional mortgage.
Which Option is Best for You?
To decide between a spec home or a custom home, ask yourself the following:
- How soon do you need to move? If you need a home ASAP, a spec home is the better choice.
- Do you want a say in design choices? If you have a specific vision, a custom home is ideal.
- What’s your budget? If you’re on a strict budget, a spec home is often more cost-effective.
- Are you okay with making many decisions? If not, a spec home simplifies the process.
Final Thoughts
Both spec and custom homes have their place in Franklin’s competitive real estate market. If you value speed, affordability, and convenience, a spec home may be the right choice. If you want a home designed just for you, a custom home is worth the investment.
Still unsure? Our team can help you navigate your home-buying journey in Franklin, TN. Contact us today to explore your options!
