If you’re looking to take advantage of historic mortgage rates being as low as they are right now, you might be interested in looking into new construction. Oftentimes, newly constructed homes or homes that are about to be built can give you an unparalleled amount of control over the finishes and overall look of your new home. Just because you’re looking at an extravagant house doesn’t necessarily mean that that’s the exact way you’d like your final home to look, which is why open houses at display homes are only partially helpful for sussing out whether or not you’re really interested in making the purchase or not.
That being said, many people don’t realize that it’s possible to actually buy a display house or model home. While, generally speaking, these properties are only used for open houses to show potential buyers what’s possible in a home free from clutter, some prospective buyers may actually be looking to save money by buying a display house in the first place. The real estate market is highly competitive right now, so looking at purchasing a display model if it has good closet space, a garage, and the stairway in the right place could be a creative way to get a good deal on your new home. Read on to learn more about the pros and cons of buying a display house.
What are the benefits of buying a display house for prospective buyers?
One of the biggest benefits of buying a display home is that you know exactly what you’re getting. If you were to purchase a home on a lot that’s yet to be constructed, any number of differences could exist between the home you thought you were getting and the home you ultimately get. When you go to an open house at a display home, you know you’re seeing a great property. In fact, builders usually spare no expense when constructing these homes because they want them to look great and show great, too. It’s also worth noting that rather than buying a home someone’s been living in, purchasing a display house for sale often means that you’re getting a brand new house in terms of condition, even if it’s been sitting there for a few years while other homes in the subdivision got purchased.
What are the drawbacks for potential buyers interested in purchasing a display home?
Of course, there are some factors that potential buyers should weigh as they consider whether or not it makes sense for them to buy a display house for sale. For example, if you want to buy a home now, you won’t often be able to move into a display home right away. This is because most contractors and builders want to be able to show a display home for a few years before they decide to sell it. That being said, if you’re willing to wait for a home with gorgeous walk-in closets and other features that you love as a buyer, it can be worth it to wait to buy. It’s also worth noting that when you decide to purchase within a subdivision, you generally get to choose the plot of land that you live on. With a display house, you don’t get to exercise that power of choice, even if you know that you’re getting the features that you love in the layout you love, too.
Ultimately, it’s worth considering all kinds of opportunities if you’re looking to become a home buyer in today’s fast-paced market. While purchasing a display house is right for some people, there are other scenarios where it doesn’t make as much sense. Make sure to chat with your real estate agent to get their opinion before you pull the trigger either way.