If you don't have the extra money to build custom, then it seems as though your decision is made for you if you want to live in this particular subdivision. Building custom always costs more than spec.

Or, look at other neighborhoods where your budget goes further, as in it's a lower upgraded neighborhood overall. Sometimes, that's better for the kids anyway. It's always better to buy a home that's under your budget than over.

The other consideration is that your 20 year home may turn out to be a 2 or 5 year home, so knowing your resale potential is good, even if you do end up being there 20 years.You never know what life is going to throw at you and how your circumstances may change.
My inclination after reading what you've written is that you should keep looking. This doesn't sound like a good fit for you.

Don't buy a house you don't like. I think if you do that, either you'll resent your husband for pushing you into it, or end up moving sooner than you otherwise would have, or both.

I agree with continuing to look.

Would you read a book you don't like and enjoy? Why buy a house under similar circumstances, when it's the most expensive purchase you're likely to ever make?

Good luck on your project.

It seems pretty clear that building new in this neighborhood is not financially feasible for you. So it comes down to this: is the neighborhood wonderful enough to outweigh some thing you don't like about the house? Do you really need a loft, when you already have 3600 sq ft? Can you plant trees in the yard, to obscure your view of the neighbors? Besides the great room, are there things about this house that you really like or really dislike?

For me the big thing would be the kitchen - I lived with an inefficient kitchen for 15 years before we were in a position to remodel it. So many fancy new homes have truly hopeless kitchens - they look lovely in photos, but would be completely horrible to work in.

If it was me, I'd make a long list of your needs and wants for a home - neighborhood, location, schools, storage, layout, finishes. If this spec home meets the most important items on the list, go for it. If you can't get past the great room or the view, forget it.

Remember, you aren't deciding between the spec house and a new house in this neighborhood - I think you've established that. You are deciding between this house and every other home/property for sale in your location. So you aren't getting "a $45K deal" on the spec house - you are getting the house for the price offered. You might find a different house - or a different location to build - for less, or for the same price, but with everything you want in a home.

Good luck!

Sounds to me like you don't like it. Why spend all that money to wake up every a.m. And say, I really don't like this or that. And if your real estate agent loves it, then maybe she should buy it...that is not a reason to buy a home at all. If this was such a great and popular and easy to sell house, why are they offering incentives on it?

Instead only buy it if you love it.

Thanks everyone for your input. FWIW, I otherwise love the house! It's just that great room. Further, we can afford to build new in the neighborhood, we just wouldn't have all of the upgrades the spec has. My question might be more financial than anything. Do we buy a spec with all the bells and whistles or do we choose one of their other floorplans and build our own? Based on the responses, this is something my husband and I need to figure out...

Once you start building, it's hard to pass over incremental upgrades. I've seen alot of new construction where it's obvious the budget got tight and the finishing isn't what it should be. I think that may bother you more than a vaulted great room.

I think the bigger concern is the view and the availability/pricing of other lots with greater privacy.

Best of luck with your decision.

I will tell you my experience building in a neighborhood like this oneâ¦I think if you want to live there and you don't *hate* the great room 2-stories, you'd be better off buying the spec home. As they build each 'phase' of the neighborhood, they also increase the base price of the homeâ¦that is why they can offer you a spec house with all the bells and whistles, you're saving the up charge. We built in the 2nd phase of a neighborhood like thisâ¦our forever home turned into our 8 yr home, as we have since moved out of state for a job. (you never know what the future holds) I do know that we built a smaller home with all the bells and whistles. We are not going to get our money out of the houseâ¦(we still own it and are currently renting it out). As people in phase one go to sell, they will have a lower price point to sell fromâ¦if the market isn't strong, they could be selling your same home for 20-30K less than you paid for itâ¦because they paid less. Does this make sense? Our neighbors added a loft after the fact and made much more on the sale of their house than if they'd have paid to make it in the first place.

spec homes by builder often have great looking
features while inexpensive (read inefficient)
hvac systems & minimal insulation package.
while these things don't 'show' they sure do
make a difference in comfort and utility costs.

I've been really amazed at the poor workmanship
of spec build hvac duct systems, and insulation
installs. add this to the minimal efficiency hvac
system allowable by law...
keep in mind that the things that don't show
are important. utility costs won't get lower
in years to come. badly sized, designed & installed
ductwork lessen comfort..and in many cases
ductwork isn't acessable if between floors.

just what I've learned from my years in the
trades.

best of luck.

We were in a similar situation in regards to building our home almost 10 years ago. Spec homes were available but we chose to build. I would agree with energy_rater_la in the concerns about HVAC in a spec home. When ours was built we had lots of gaps in the metal ductwork that we had to personally fill in with mastic and seal. The spec home to the right of us was built after ours and we know that in some places the metal ductwork seams were so poorly fitted they had over 1/2" gaps! That with the high ceilings in the back great room (like what you describe) had the previous owner complaining about the heat bill. The house also had other problems like developing a crack in the basement foundation wall after they had already finished it and problems with the concrete pitting badly in the driveway. The people who bought that home moved out after 4 years and built a new house where they could supervise the work. The new neighbors have had some issues as well, but they are still there.

As for a home behind, it depends on your personality. When DH and I go on vacation, I gladly pay the extra for the beach view. To me, life is short and it's just not worth it. Who knows what kind of people are in the home behind. Maybe it is well taken care of now. But things can always change. You could end up with a situation like one of my neighbors who are a family from India who are as nice as can be but do absolutely no maintenance on their home outside. They store things all over which looks like clutter, don't believe in landscaping, and mowing is a rare occurrence. And all this in a higher end neighborhood which you would not suspect. Unless you can effectively screen them out, your neighbor behind you will figure into your real estate value and be a part of your lives. And you will be dealing with that for years to come.