Howdy!
I’m interested to know your opinions about spec homes. Should a fella build one that has the specifications to suit the largest portion of the population, or should you specialize and target a specific smaller niche of people???
Cheers
brock
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Build to the most likely buyer for that specific address. A great BBC series aired recently with two guys who took the challenge to fix and flip houses until they had one home worth 1 million pounds. It was amazing how different properties had to be pitched to different types of buyer, which implied different design choices. The guys got it wrong a few times.
IMHO the middle of the market is rotten. Build what is expected, often what he bank demands, and even the enthusiastic buyers are looking a sad compromise.
Too often I see this as the confluence of a punch list of trendy features, middling requirements the bank is sure the general public, whoever they are, demand and afterthought luxury features that are lame attempts at justifying more money than the house is worth. As if you could install a truck load of granite and a couple of fireplaces in an overlarge row house and make it look like something other than a pearl in a pigs rear.
Build to suit yourself, your family and your situation. Build it like your going to live in it for the rest of your life. Once you do the care will show. The buyer will find you. And you can be sure at least one person is entirely happy with the house, even if it is only yourself.
If on the odd chance you can't sell it move in. You could do far worse than living in your own concept of an ideal house for a few years. Most people will never get the chance. They move into the ridiculously compromised ideal which we have convinced ourselves and each other the 'market' demands. In effect creating a self-fulfilling prophecy where everyone gets what they are told they want. Instead of what they really desire.
"They move into the ridiculously compromised ideal which we have convinced ourselves and each other the 'market' demands. In effect creating a self-fulfilling prophecy where everyone gets what they are told they want. Instead of what they really desire."So true. Have seen some examples of this myself as an architect. One couple (a doctor and nurse) who wanted to build a spec house originally designed for Florida, but in West Virginia. An ugly house (in my humble opinion) but at least it had some nice 9'-0"/10'-0" high ceilings. They wanted everything lowered to 8'-0", which meant changing the elevations, window sizes, etc.. Asked them why, and their response was that everybody else had 8'-0" ceilings, so they figured they should have them too.
Have been to one or two "home" shows in my area as well, where they show a high-end subdivision to the general public. Everyone walks through these houses and oohs-and-ahhs at the jacuzzis and flat-screen t.v.'s, but nobody notices the homes.Check out "The Not So Big House" by Susan Susanka (?). She used to be a contributing editor to FH, but I don't know if she still is. The houses in it are still kind of traditional, but much more quality-driven without a break-the-bank budget. And concentrate on the interiors. When people go home they spend 10% of their time outside their homes, and 90% of it inside. But they're built like the ratio is the other way around. Could go on (and on and on), but then I'd have to get out my soapbox. In short, there's enough hackers out to do the nasty stuff. Do quality work, increase your skills and experience, and be judged on your portfolio. Good luck.
Edited 7/27/2005 2:36 pm ET by draftguy
> Susan Susanka (?).
Sarah Susanka. (For a long time I had her mis-remembered as Susanna Somethingorother.)
-- J.S.
For a long time I had her mis-remembered as Susanna Somethingorother
LoL!
I did that too (occasionally still do). I my case I think it's the phonetic "doubling" that Russian names will sometimes have in the maternal names, like Ivan Ivanovich, or in the feminine, Ivana Ivanoka. But, I've had a colorful and atypical sort of life, too . . . <sigh & grin>Occupational hazard of my occupation not being around (sorry Bubba)
Hi Brock, I have done well always building for myself. Not for what some real estate wizard says will make me a lot of money. Earlier in my career I built residences that I'd like to live in myself. Since I'm an average Joe Blow, lotsa people fortunately wanted what I wanted, and the places either rented or sold easily. At the moment I'm building a commercial complex next to my favorite concrete supplier and near a great lumber yard. I want my buildings to house the kinda folks I like to be with, namely other contractors, architects, and building engineers. Of course the first building I put up on the site will be an upscale coffee shop (You may know how much contractors, especially here in the San Francisco East Bay, like great coffee.) I have total confidence, being Joe Average Contractor, others will follow and want to house themselves here in my complex of offices, showrooms, and shops, and of course have easy access to the coffee. Hope this helps in your speculations.
In my area, the developers build mid-price spec homes by the dozens. These are in the $300,000 range, they are sold before they are completed. On the news last night, the median home price is up to $189,000 over $177,000 last year. New sub-division homes are selling but existing home sales are flat. People are mortgaged to their eyeballs, one town just announced a property tax increase of over 200% in the next few years. Fixed and low income folks are having a hard time, especially with oil, food and gas prices going through the roof.
Beat it to fit / Paint it to match
see Boss Hog hasn't posted yet
do a search on "Spec house from hell"
bobl Volo, non valeo
Baloney detecter
I kinda figured everyone was tired of hearing about it. But just in case anyone isn't, here's the thread:http://forums.taunton.com/tp-breaktime/messages?msg=38467.1
As a rule, the mind, residing in a body that has become weakened by pampering, is also weak, and where there is no strength of mind there can be no strength of soul. [Gandhi]
IIRC the original poster is a newbieand IIRC that thread has some info he is looking for
bobl Volo, non valeo
Baloney detecter
should you specialize and target a specific smaller niche of people???
Well, if you know (that's really know, not guess, heard about at the cocktail party, etc.) there is a specific niche market, then building to that market can be very profitable. It also removes some of the guesswork, too.
For instance, I want to remember that you have a decent-sized oriental population in your area. There are some aspects of traditional oriental design that the "median" house being spec built will not have (some hard to adapt to "western" houses, too, aspects).
If you knew of people who would like a house that "fit" into a typical neighborhood, yet had some "traditional" features in its design, then a market exists, potentially. The "customer base" would have to know that the product is available, to make it a "real," as opposed to "potential."
If you could build entry-level houses that were under the median price, yet had value to the owners, that would be a specific market to tap into. That would take getting in "touch" with that market too.
In my town, there is a great potential market for entry-level houses that are not cookie-cutter spec (or priced that way). If a person could sell houses that have spec prices around $125K for, say, $95K (by lopping off some of the wannbe McMansion excesses), there'd be a good market for that kind of house. A person would have to know some reliable realtors and the like--might even could sell such a thin almost before it was started.
"Might" can be a cruel word, though . . .