Updated November 4, 2026
Two ways to buy new
New-construction homes generally fall into two groups. A spec home, also called a quick move-in or inventory home, is built before a buyer is signed. A to-be-built home is sold first and constructed after you sign the contract. Builders use different names, so ask what each term means for them.
Spec homes: what to expect
- Timing: may be complete or near complete, which can mean a shorter wait.
- Choices: most selections were made by the builder, so options are limited.
- Inspection: you can often see the finished home. If it is under construction, ask whether a pre-drywall inspection is still possible.
- Incentives: builders may offer incentives to sell inventory. Get them in writing.
To-be-built homes: what to expect
- Timing: you wait for construction, which can run longer than estimated.
- Choices: you generally pick a plan, lot and finishes, with design deadlines.
- Deposits: deposits are often paid in stages. See our deposits guide for Florida's escrow right.
- Price: check how the contract handles price changes, upgrades and cost increases.
Questions that apply to both
- What is the flood zone for this lot, and is an elevation certificate available?
- What are the HOA dues and any CDD assessments?
- Who is the escrow holder for my deposit?
- What is the warranty, and how do I make a claim?
- What is the builder's policy on buyer's agents and site visits?
Which is right for you?
If you need to move by a certain date, an inventory home may fit. If you want specific features or a particular lot, a to-be-built home may fit better, with more waiting. Neither is automatically better. Your agent can compare actual homes side by side and help you read the paperwork.
Many builders require your agent to be registered at your first visit, so decide early.
Timing and money details
With a spec home, closing may be tied to completion and your lender's schedule, so confirm your financing dates. With a to-be-built home, you may wait many months, so ask about rate locks, deposit schedules and what happens if closing is delayed.
Ask whether the price is fixed or can change, and how upgrades and lot premiums are handled in writing.
Ask about the warranty either way
Whether you buy a finished or unfinished home, ask for the warranty document before you sign. Learn what is covered, for how long, how to submit a claim, and whether there is a walk-through near the end of the first year. Terms vary by builder.
Walking through a home that is not finished
Whether the home is a spec or to-be-built, ask for the plan set, the list of included features, and the selections sheet. Compare what is on paper to what you see in the model. Model homes often show upgrades that are not included in the base price, so ask for a list of what is standard.
A buyer's agent can compare these details across builders so you are not judging two homes by different yardsticks.
Questions about the lot and the neighborhood
Look beyond the house. Walk the street, note nearby construction, drainage, lake or pond edges, and how close the lot is to roads or utility easements. Ask the builder what will be built on neighboring lots, whether amenities are finished, and who maintains common areas. In a growing area, a quiet street today may look different in a year or two.
Ask where the lot sits in relation to the community's flood zones, and request the elevation certificate when it is available. These steps apply to both spec and to-be-built homes, and they are easier to do before you sign than after.
Finally, ask how the builder handles warranty requests after closing, who you contact, and how quickly requests are usually answered. The answers tell you a lot about the experience you can expect.
Frequently asked questions
Is a spec home cheaper?
Not necessarily. Prices and incentives vary by builder and community, so compare actual offers.
Can I change a spec home?
Usually only in limited ways, if the builder allows it. Ask before you sign.
Do both need inspections?
Both can benefit from an independent inspection. See our inspections guide.