Combing through real estate listings to find the perfect home that meets your specifications can be a labor of love. The day will come when you walk into the ideal house in a great location with the perfect floor plan for your needs but bear in mind that your dream home may have been used for display. These homes are designed to help future homeowners envision themselves living in the property and get a feel for its potential. Homebuilders often sell model homes as-is for a discounted price, giving home buyers the chance to purchase the best home in the community without the luxury price tag.
The perks of buying a model home.
There are several advantages to buying an original home that’s been used for display. Builders use model homes to showcase prestigious upgrades and design features. Think investment in landscaping, outdoor living space, blinds and curtains, feature lighting, smart upgrades, and high-quality tiles and flooring. While a home is on display, it’s leased back to the builder for an agreed-upon time period. Homebuyers can then use these homes as an investment property with the peace of mind that they will be maintained to the highest standards. All maintenance issues are covered during the display period, and buyers can claim depreciation. Display homes are the epitome of move-in ready properties that give you a clear picture of how they will look without the need to design the floor plan.
What to keep in mind when shopping for a display home.
Homes that are used for display typically have a higher price tag than a traditional house-and-land package due to all the included upgrades and prime location. The lease-back period is typically two years with options to extend, which means you won’t be able to move in right away. Financing this type of home isn’t the same as a traditional home. Buyers need to take out a commercial loan, have healthy equity, and the ability to put down a 20 percent deposit. Lenders have very strict borrower standards and don’t typically offer to finance these types of homes.
A great place to find display houses for sale is on Australia’s largest list of real estate properties. Dennis Family Homes has the latest sustainable, award-winning display homes at affordable prices. Buyers can use detailed filters on dennisfamily.com.au to search for their ideal property listing. Whether you want a new home within walking distance to your favorite amenities, multiple bedrooms, or spacious square footage, this home builder can help you find the perfect property.
Keep these helpful tips and tricks in mind.
A home that’s used for display is well-taken care of, but you should always hire a home inspector. Always check the builder’s reputation and look for customer testimonials about their experiences. Steer clear of builders with repeated bad publicity or public records for lawsuits. You’ll want to work with a real estate agent who can negotiate the asking price and the model home furnishings. It’s common practice to leave all furniture, artwork, and decor with the home, assuming you ask for it. The price of a model home is rarely firm and can be negotiated with the builder. A smart way to get the best price on a home is to take advantage of close-out sales and purchase the last remaining model after a community has been developed.
The entire process of getting into your next home is easier with the help of an award-winning property management company. Venterra Realty is recognized for outstanding company culture and creating both a memorable customer experience and employee experience. The Venterra team owns and manages apartment communities in major US cities, providing homes to thousands of low-and moderate-income families. Venterra Realty has been named an Optigo¬Æ 2021 Select Sponsor, which means access to best-in-class interest rates, streamlined underwriting and document review, and quick loan approvals.
Purchasing a home that’s used for display is a great way to find your ideal move-in-ready home at an affordable price. Almost everything is included with a model home but do read over the contract carefully. Buyers have priority in purchasing furniture, electronics, decor, and art before the items are sold at an in-house auction.