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This situation may not appeal to some home buyers.ĭisclaimer: The information published in this section is of a general nature only and does not consider your personal objectives, financial situation or particular needs. Then there are your finances to consider: You might need to secure additional financing in the form of a bridge loan to pay for construction costs, while paying your existing mortgage.
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During that time you may experience further delays and budget overruns due to weather or construction issues.From developing plans to finding a suitable site and waiting for council approval, your move-in date might be months away. When building a home, you can be faced with delays and uncertainty.How to: Obtain a building or planning permit Cons Your home will be perfectly tailored to your style and budget.
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Instead of spending months doing the research yourself, or having to pay a design firm, professional designers will have already found the right combination of architecture, colours and finishes to create a beautiful result.While you may not get to choose every detail of a spec home, this option can offer excellent value for money.What are the pros and cons of buying a spec home? Pros