Builders often use terms such as ‘House and Land package’ or ‘Spec Home package’, but rarely explain the difference between the two.
As the name suggests, a ‘Spec Home’ is a home that it built on speculation. The builder includes various features in the home that it hopes buyers will find appealing. Usually, a Spec Home is a package that is already under construction or is sometimes completed at the time of purchase.
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A ‘House and Land Package’ is a package that has not been constructed and is usually in the planning stages at the time of purchase. As a House and Land Package is often purchased while still in the planning stages, there is normally some flexibility for buyers to select certain finishes, for instance, tiles, tapware, carpets, paint colours etc to suit their particularly tastes. A ‘House and Land Package’ starts with a basic package and gives you the freedom to modify the package to suit your needs.
The greatest advantages with buying a Spec Home are that you can enjoy the benefits of owning a brand new home without waiting several months before moving in. Further, as the house has already been constructed or is under construction, you can physically see what you are getting, as opposed to trying to imagine based on plans and drawings etc. For those who want to have the opportunity to actually walk through the home before making a purchase, a spec home may be the way to go. The same is true for those who do not have their heart set on including specific options in the home. While a Spec Home is not the right choice for those who want to choose every single detail of their new home, it is a great option for property investors, who can often quickly start receiving rental income.
Beechwood Homes currently have some fantastic ‘Home and Land Packages’ as well as three ‘Spec Home Packages’ at Jordan Springs, Sydney available. For more information on these packages simply click here.