I have done dozens of "spec" homes. They have ranged from plain and simple to extravagant as far as bells and whistles go. A "spec house" is a house built to the GC's specs as a speculation home for the GC to market and sell after it is complete. If you build a dozen tract homes in an addition and they aren't sold to anyone before completion they are spec houses. Conversly, a home constructed for an individual, with options of their choosing, to occupy as their home is a custom home. I have done spec homes that had all the bells and whistles like automated HVAC and lighting, central vac, video, security, heated tile floor, etc. They always sold and I could never figure out why someone would pay $700,000.00 for a new house they didn't choose the floorplan and amenities for. If I had access to that king of money you can bet the house it would buy would suit me to a "T".
