There’s something special about buying a newly constructed home. From knowing that your family is the first to occupy the space to having brand-new everything, buying a new construction home is the definition of enjoying that new home smell.

When it comes to new construction homes in Park City, there are generally two options. You can buy from a development builder or a spec home builder. But what’s the difference?

In this post, we’re breaking down everything you need to know about spec home builders vs. development builders.

What is a Spec Home Builder?

Short for ‘speculative home,’ a spec builder is a type of home builder that specializes in building one-off custom homes with specific buyers and clients in mind. Spec builders will often research local architecture and housing trends to build a custom property that will be marketable and sellable in the area.

Do you have questions about buying a home in Park City or Deer Valley? Here are a few more posts you might find interesting

• How to Build a Custom Home in Park City
• Do you Need a Realtor to Buy a New Construction Home?
• What’s the Best Way to Finance a Vacation Home in Park City

What is a Spec House?

A spec house is a custom-built, one-off home built by a spec builder. In most cases, spec homes are single-family detached properties. In Park City, spec homes are luxurious and unique, filled with high-quality finishes and thoughtful details you likely won’t find elsewhere.

What is a Development Builder?

Development builders operate on a much larger scale than spec builders. Developers build communities. They usually offer a few different unit types that are then duplicated across the development. The home-building process is more systemized, with the same floor plans being constructed over and over. Although these homes offer less customization, in Park City, they are still quite luxurious with beautiful details and quality finishes.

Learn more about luxury condos in Park City and Deer Valley with these posts next:

• Luxury Condo Amenities in Park City
• Why Buy a Luxury Condo in Park City

How is a Spec Home Builder Different than a Development Builder?

Depending on the property you’re looking for, you might opt for a spec home or a home from a development builder. Here are some of the main differences you should know:

Development

• The projects are usually quite efficient. Development builders have systems in place to streamline the process and need less time to build units.
• Developments can feature single-family detached homes, but more frequently they are condos or townhomes.
• Developer homes are usually less expensive than spec homes. Since builders can take advantage of the economy of scale and value. Purchasing greater quantities of material usually boasts a cheaper per-unit cost. These savings lower the total cost of the project.
• Although single units might take less time to build, developer communities are usually sold in phases, and projects could last for years. If you purchase a developer home in one of the early phases, you’ll need to contend with construction that potentially lasts years.
• Even once the initial construction phase is complete, the developer may still be around for warranty issues.
• Development builders typically have amenity packages included such as access to tennis courts, swimming pools, golf memberships, and more.
• Developments also typically have HOA dues. These fees can cover a variety of homeowners’ costs, including maintenance of common areas, roofs, painting, landscaping, stone removal, and more.

If you’re thinking about buying a development home in Park City, here a few more posts you might find valuable:

• What are the Best Park City Golf Communities
• What to Know About Park City HOAs
• What to Know About Investing in a Park City Vacation Home

Spec Homes

• Spec homes are typically exclusively single-family homes.
• These one-off projects often feature a higher level of detail in a single unit than what you would see in a development home.
• As a result, spec homes may take longer to build than a development home.
• Spec homes have a much higher level of customization including choice of vendors, materials, layout, etc.
• Since much more is going into a single home, spec builders tend to do more research on the unique architecture and popular styles in the area to ensure the project is marketable and sellable.
• Depending on the location of the spec home, there may or may not be HOA dues. If HOA dues apply, they are usually less than what you’d find in a development home.

Does Park City have unique architecture? Read our post right here to find out!

The Two Can Exist Together

In high-end luxury developments such as those found in Park City, it’s normal to find spec homes built within developments. You might see a development builder building several homes in a neighborood with a custom spec home being built right next door.

Looking For a New Construction Home in Park City?

Here at CFH, our experienced Park City Realtors have built deep connections with local development builders and spec home builders. Whether you are looking for a beautiful vacation home in a new development or a custom showstopper property, we can help you find the right choice.

If you’re thinking about buying or selling a home in Park City or Deer Valley, trust the team at CFH. Give us a call at 435-647-8035, email us at info@CFHparkcity.com or fill out the form on this page to get in touch.