Model homes are a rare find in the real estate business. A model home is the house the builder constructs to use as the show home for a particular floor model in a new-construction community. These homes often have all the bells and whistles included to showcase the upgrades available. As an example within the Bloomfield luxury community of Skyestone, the model homes are a marketing tool for the neighborhood that the builder, Taylor Morrison designs to look its best.
However, model homes are not easy to find for sale. They’re usually only available at the end of the building process for the neighborhood. But, when a model home does become available, they’re usually a great deal. While you can work with a builder in the growing Colorado neighborhoods of The Preserves at McKay Shore and Anthem Ranch, to find available model homes, it’s always best to hire a real estate agent to represent you when buying a home. The builder’s salesperson’s job is to represent the best interests of the builder. They’re not responsible for protecting your interests.
Benefits of Buying a Model Home
Buying a model home offers many benefits, including often a discount price compared to what it would cost to build a new home in the same neighborhood. While model homes usually haven’t been occupied, they aren’t brand new. Many people have toured and trampled through the home. Another reason for a discounted price is the builder needs to sell the home and close out the neighborhood. But remember, the home’s warranty will be based on the construction date and not the date of purchase. If the home was built two years prior to the purchase date, a 10-year warranty would only have eight years remaining.
Model homes are move-in-ready. Because the builder wants the model home to represent the neighborhood and home options well, they finish the details of the home, like the landscaping. Also, model homes include many of the upgrades offered by the builder because they want potential buyers of new builds to pay for the upgrades for their homes. These upgrades may include top-brand appliances, granite countertops, upgraded light fixtures and faucets, taller kitchen cabinets, smart technology features and more. When you purchase a model home, you get all the fancy features without the fancy price.
Another great secret about buying a model home is that the builder will often include the furnishing at a highly discounted price. With a quality real estate agent in your corner, you may even be able to negotiate the furnishing in for free. Because the builder needs the home to look modern and enticing, model homes are furnished with the latest styles and design features. If you don’t want to worry about moving all of your furniture, asking the builder to include the furnishing is a great plus of buying a model home.
When you decide to purchase new construction, there’s often a significant waiting period. From the time you decide to build until you move in can be anywhere from six months to over a year. That’s a long time to wait to move. If you love a neighborhood but don’t want to wait or do the work to pick out the features for your home, a model home is a great option. The move in time is usually the standard time to purchase a home with the added benefit of not having to make all the design choices.
Tips for Purchasing a Model Home
If you decide to buy a model home, be sure to know the best tips to protect you in the process. First, as we said, hire a real estate agent! They will work with you to protect your interests. It’s not the builder’s job to represent you.
Even if the builder says the price is firm, you should negotiate. You’re not buying a brand-new home and you shouldn’t pay the price for one. The builder should offer a discount for the model home. An experienced real estate agent will know to ask for things like a one-year warranty to cover mechanicals and appliances.
Always have any home you plan to purchase inspected by a professional home inspector. Your real estate agent can provide a list of reputable home inspectors. Even with a new or never occupied home, defects and damage can be present. Know what you’re buying before you sign the purchase contract.
Model homes are a great deal if you can find one! But, don’t let your excitement lead you to miss out on the best price. Contact the real estate experts at Redhead Luxury Properties to represent you in your model home purchase. We work to protect our clients’ interests while we help find your dream home.