Pros and Cons of Buying a Model Home
Buying a home is a significant financial decision. In addition to the cost of the house, most homeowners spend tens of thousands on mortgage interest costs over the life of their loan. Other home-related costs include home maintenance, home insurance, and property taxes.
Choosing the right property for your needs can prevent you from relocating again quickly. Purchasing a fixer-upper can lead to costly renovations, mainly if global events affect the cost of materials or labor. You might opt to contain costs by investing in a new home that won't need renovations. While you can opt to build, you could also consider buying a model home. Purchasing a display home has distinct advantages and disadvantages. Read on to consider the pros and cons of purchasing a model home.
What are display homes?
Display homes are houses built to promote the builder's services. When the builder's planning a new development, they'll choose a lot and construct a home on that lot. The builder's salesperson uses the display home as a base for operations. Potential homebuyers can tour the display home and get a sense of the layout and design options. Display homes offer builders an opportunity to display their craftsmanship and convince home buyers to invest in a new build with their company.
How can you find model homes for sale?
You can find display homes for sale on the builder's website. While you're searching for the perfect home, you can use the website to find display models in neighborhoods you're considering. The company provides a list of current display models and critical information, such as the amount of square footage, the number of bedrooms and bathrooms, and the size of the garage. Viewing a property flyer online is an excellent way to confirm house details, such as the features in the master bath or the amount of storage space in the kitchen. You can use the builder's website to contact a salesperson and learn more about any available display home if you think it could be your dream home.
What are the advantages of buying a model home?
Display homes are constructed to entice home buyers to enter a contract with the builder. Consequently, builders invest heavily in their display homes and ensure they're loaded with custom options. Display homes must be durable because of the volume of foot traffic, so builders install superior flooring that won't scuff or stain. Model homes typically feature high-end materials, such as marble or quartz countertops and custom cabinetry. Some model homes feature exterior upgrades, such as a pool or landscaping. When you find a great deal on a model home, you may enjoy multiple upgrades you couldn't afford if you invested in a custom build.
What are the disadvantages of purchasing a display home?
The sales team representing the builder can handle the sales paperwork, but their priority is to ensure they get the builder's best deal. Bringing your real estate agent ensures your rights are protected during the buying process. Your realtor may secure you a better sales price.
Model homes can receive a lot of foot traffic, which is something to consider. The house may have doubled as a sales office for a year. During this time, sales staff may have used bathrooms and kitchen appliances. Although you're getting many upgrades when you buy a model home, you aren't getting a home that's never been used, which means your home's systems could break down sooner. Ask about home maintenance to ensure the builder had the HVAC system serviced and maintained other household systems correctly.
A display home is an easy target for criminals. Teens could break in and host parties in the house. Thieves may have toured your home while it was a sales office, enabling them to learn the layout. You could negotiate a home security upgrade when purchasing a display home to ensure your family's safety.
Buying a model home is a great way to secure home upgrades for an affordable price. The disadvantages of purchasing former display models include wear and tear from prior use and security issues.