Pros and Cons of Buying a Display Home
Whether you’re looking for a new home or searching for the home of your dreams, buying a house can be both exciting and stressful. Potential buyers have several significant decisions they must make, such as where they want to live. Home buyers must also save a down payment and qualify for a mortgage, impacting their decisions about which home to buy.
Buyers have several other factors to consider. While it’s most common for people to think of home buyers purchasing a home that’s been occupied before, it’s also an option for buyers to pay to build a home or purchase a display home. Review the pros and cons of buying a display model to determine if this is the right option for you.
Display models—also known as show homes—are houses constructed by builders to promote their company. It’s common for builders to construct model homes when selling lots in a new subdivision to entice buyers to build a home. Model homes are typically used as a sales center to allow potential home builders to see the quality of the builder’s work firsthand and review the features they could have in their home. Consequently, when model homes go on sale, potential buyers don’t have to rely on a virtual tour to assess the home. They can walk through the home instead of looking at the blueprints of the floor plan.
Since sales experts have worked out of the home, they’re familiar with the home and its features. When you visit display homes for sale, you’ll be able to get detailed information from a salesperson who’s spent time at the properties and knows which materials were used and what features each home contains. The salesperson can provide detailed information about the number of bedrooms and baths in the home and its total square footage. Display homes often feature extensive upgrades because they’re designed to entice buyers to spend more money building a home. Consequently, people who buy model homes may be able to get upgrades they wouldn’t afford otherwise
Display models may be ready to purchase today. It can take months to finalize the sale when home buyers purchase a house currently occupied or opt to build a house. Although it’s crucial to carry out a home inspection of any property you’re interested in buying, if a model home turns out to be your dream home, it shouldn’t take long to finalize the sale.
Hundreds of potential home buyers may have toured houses that double as sales centers. Consequently, show homes may have sustained some wear and tear. A salesperson may have used the bathroom throughout the day while working out of the home. It’s also possible the salesperson used the kitchen to bake cookies or prep food set out during open house events. Although a display home may turn out to the home of your dreams, it’s crucial to ask what facilities have been used, and how frequently they’ve been used, before negotiating a contract.
A salesperson working from a display home works for the builder. Their primary concern is their employer’s interests. Although the salesperson can negotiate the sale for you, hiring a real estate agent can ensure your interests are protected during the negotiation process.
A model home’s main living space is finished. This means you won’t be able to choose paint colors, flooring, or make other choices about your bedrooms, kitchen, living room, or master bath. It’s also common for builders to finish the outdoor space at a display home to showcase external upgrades buyers may opt to include when they build. This means the home may come with external features you wouldn’t choose for your dream home.
Teenagers may target empty show homes to host parties. Houses can receive thousands of dollars in damage if a group of people breaks in. It’s also important to note that model homes that double as sales centers are open to the public, which means many people will be familiar with the home’s floor plan. This can make model homes an easy target for thieves.
Purchasing a display home offers home buyers distinct advantages and disadvantages. It’s crucial to weigh these pros and cons to determine if purchasing a display home is the right option for you.