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Should I be worried about a spec home?

Hello all - my wife and I continue to work on finding a house in Michigan. We have found a home that we love the look of (layout, new, seems quality to a novice). The home is a spec home from a custom builder in the area ... and despite loving the look of the home, I do have some reservations.

  1. The home was built in ~7 months - is this typical for a quality new home?

  2. Unfortunately for the seller, the first thing the realtor at the open house started telling us that this is someone's kind of first solo-build/prove-it project for her builder family.

  3. The home has well water, and a septic tank in the front yard.

  4. The garage is unfinished.

  5. It has been on the market for a few months, has had two open houses in the last two weeks, etc.

  6. It is $825k - and appears overpriced to me.

  7. My wife wants it 😁

Any takes on spec homes in general, what to watch for, and/or this one specifically?

Thanks yall!

submitted by /u/mkestreetsweeper
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source https://www.reddit.com/r/RealEstate/comments/1hxd3y7/should_i_be_worried_about_a_spec_home/
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