Building spec houses without guaranteed buyers may require a different approach to construction financing. In a competitive housing market, where a shortage of desirable inventory may create significant opportunities for builders, spec home loans have bec...
If you regularly build new construction homes on a Spec or Pre-Sale basis, it’s likely that you’ve worked with different lenders. While there are many kinds of loans available for new construction, lines of credit for spec construction are uniquely well s...
In the world of new home construction, there are important differences between home types, and knowing those differences (and what they entail) is important when traversing new home building territory. Understanding the difference between spec homes and p...
Spec construction is speculative – it’s a property built without a buyer already lined up. There is risk and potential reward. A spec property probably isn’t a long-term investment; many projects are under a year from start to finish. When the process goe...
When it comes to new construction, there are several kinds of residential builds that builders may consider. One of those, the spec house, provides interesting opportunities and challenges. What is a spec house? A “spec house” is a new home built on a spe...
Builders looking for ways to fund new construction projects, like spec or pre-sale home building, may consider financing using a private lender. While it is one way to get a spec house construction loan, working with a private lender can be quite differen...
