Bob, this is my opinion as a buyer. Many people don't have a lot of imagination. Staged houses sell for more than non-staged, even though the buyer knows the furniture isn't included. So, I do not think the spec house would be appealing without finishes. I've seen quite a few design shows where there's a development, and the buyers see a model, then are told they can change out finishes. But there is usually something in the space that they can see. Often the change out is a counter top upgrade, different finish of appliances, better flooring instead of carpet.
You wouldn't be able to do that with one house. I think it would "show" terribly on the MLS. I have seen spec houses on the MLS that were plans only. I've seen spec houses that were in progress, where I was told I could still change the finishes if I made the offer and got in contract. I've never seen an unfinished but finaled spec house.
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Kathy, you’re correct about the pitfalls of selling the home in a 'raw' state.
My intention was to build the home in a raw state while construction prices were lower than a couple years ago. Over the next year, I would slowly do the interior finishing and decorating. If during that time, something else comes along that is above the wow of the raw home, I would make that the primary focus and sell the other.
I know where I am now, people invest money into selling their homes only to have the new owners low ball them because they are going to rip out or change what was there. I know one person who was told by a perspective buyer (after doing some remodeling for the sale) that they wish they had just left it alone and reduced the price by the remodel as they would rather finish it their way.
As for what was required for the final inspection, it was a learning experience and when all is said and done, makes absolute sense from the inspection/permit “habitable” standpoint. I learned a few things about when something goes from being a required installation to what makes it acceptable to be just a pre-plumbed or pre-wire.
Again, thanks for the other perspective.
I know what you're saying, Bob. I have seen some horrendous "new" stuff done here for freshening up the house to sale. Like "new paint" in the most awful colors, leaving me saying, great, now I have to do an interior paint job or I won't be able to stand living here.
However, I have upgraded several houses here for sale, and I've always gotten positive feedback.
As a buyer, I cannot stand white appliances, or 4" tile countertops, so if anyone did that, that money would certainly be a waste. I think if people use high end finishes and have good taste, it wouldn't be a problem here. But I can't say for sure. I have looked at hundreds of homes for sale here, maybe thousands, and most of the ones in my price range have been pretty awful. It seems to me the moderate price range island buyer would be grateful if it's updated in good taste. As for those who need to choose everything, they should just build custom homes.
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Oh yes, I know what your talking about. I have seen some beautiful homes in Hawaii and when I walked through the door, my god, hope they can get a refund from that interior designer!
I guess I'm use to some of the midwest-southwest rural ways of home buying. It's not that uncommon to find builders offering shell homes or raw homes. Even now, some of the big tract home builders are offering sweat equity homes. Since I know there are people out there somewhere who have no issues doing their own interior finishing, I figured if for whatever reason I decide to scrape this project for something else, I didn’t want to invest anymore than required, but I did want it to be a finalized habitable home.
I will say, the final permit and inspection requirements reads like a subway sandwich menu. Fortunately, it's a little less strict from what I see with raw homes on the mainland.
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Bob I asked this very question to our inspector yesterday and this is what he (Donavan) said: It must be turn-key ready. How's that for placing a lid on this burning question? It is expecially important to have all of the bathroom(s) fineshed and operational (for obvious reasons) and all paint, sidding, roofing, etc. done on the outside. Best of luck!
