When builders want to show potential clients their homebuilding skills, they build a display home to show clients. The display home makes it easy for clients to visualize what they can expect from a builder hired to build their home. If you are ready to enter the property market, be prepared to see several display homes.
When builders want to show potential clients their homebuilding skills, they build a display home to show clients. The display home makes it easy for clients to visualize what they can expect from a builder hired to build their home. If you are ready to enter the property market, be prepared to see several display homes.
Sometimes when we are shown display homes, we fall in love immediately. It fits the picture of a house we have in the back of our minds, and the thought of buying that one engulfs us. But no, display homes are useful for letting the builders get a picture of what you want, or are they? Can you buy a display home? Keep reading to find out if you can.
What is a display home?
In more precise terms, a display home is like any other home, but as earlier described, it is built to demonstrate the design concepts your builder has come up with and their expertise. It is there for you to tweak as you want, making the house cost extra in the end. If buying a display home has ever crossed your mind, you will be delighted to find out that it is possible to do just that. A staff at Burbank once revealed their bank sells more than 20 display homes a year.
The Pros of Buying a Display Home
The Affordable Option
Here are the reasons why a display home is more affordable than building a new one from scratch:
There is a higher possibility of buying a display home on the cheap compared to non-display homes. Builders are keen to sell off a display home, which means with a little arm-twisting and heckling, they might do it at a discounted price.
Because display homes are built to show off a builder's expertise, they are packed with features to catch potential clients' eyes. Some of these features will be tagged as upgrades when your home is built and will cost extra.
Building a brand new home, you will have to pay for its landscaping within a set time, and it must be done to set standards. That could take an extra $25000 or more out of your pockets. A display home helps you save some money on that.
Profitable
Can you imagine buying a home and making money off it? Purchasing a display home makes it possible to agree to a leaseback option with the builder. For a set period (2usually 2 years at the maximum), a builder will own the right to rent out the property. As part of the agreement, the builder will pay you a return. The percentage earned can soar up to 7% in some cases.
The Cons of Buying a Display Home
Wear and Tear
Due to its primary purpose of just being shown-off to potential buyers, a display home might have a bit of wear and tear. It would not be as bad as a home that hasn't been lived in for years. Display homes get cleaned by professionals once or twice a week. Home Builders who want to impress buyers as best as possible make lots of effort to keep the building in tip-top condition.
Customization.
You have no say in how a display home is built. You weren't present during the building process, so you did not influence any design decisions. All of this makes customization next to impossible without potentially defacing the house.
Buying a display home could turn out to be a lucrative idea for you. If you are not eager to move into a new home for a few years but would love to purchase a property because of the real estate market's unpredictability, a display home might be perfect for you.
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