Buying a new house that suits your style, decor, and lifestyle can be a straightfoward approach if you’re currently in the market for a place to call home. But wait, there is another alternative you haven’t probably given a shot. Have you considered buying a display home instead?
As with any other purchase you have made before, the first step you should take is to run through the pros and cons. Choosing to buy a display home offers a couple of benefits you’ll want to consider before making the final decision.
What is a Display Home?
First thing’s first: a display home is built purposely by a builder to showcase their capability, quality, and expertise to potential customers of what a final product can look like. The result is a stylish house, with modern trends and a family-friendly design.
The Benefits of Purchasing a Display Home
- Leaseback agreement returns
Leaseback is the arrangement whereby the builder leases back the house from the new owner for some time (usually 24 months) to use as a display home. This is a substantial benefit you can reap from owning a display home. The builder is a ready and willing tenant who will want to rent immediately after you purchase it. A leaseback agreement also offers rental fees that are higher than the standard ones.
- Premium furnishings and furniture
Which builder wouldn’t want to showcase their quality craftsmanship? Hotondo Homes’ display homes come with brand new appliances and fixtures and fittings from our preferred suppliers. You can also be sure that old accessories are continually replaced with new ones while the house’s cleanliness is never compromised.
- Ideal for investors
If you’re a business enthusiast, then here’s another venture for you. Imagine owning a property where you have zero maintenance costs since the tenants have already catered for that while paying your rent to create a second scream of income. This is what the leaseback agreement offers you. Another positive is that after this period, you can either choose to move in or sell the home with good returns depending on the state of the real estate market at the time of sale.
- You’ll save on landscaping
A new home’s landscaping can cost thousands of dollars to complete yourself. You can easily save this sum by buying a display home because the builder has already done that for you. How good is that?
The Potential Drawbacks of a Display Home
- It’s not brand new
Many potential customers will visit the house over the lifetime of the leaseback period. Therefore, the home is not that new due to some minimal wear and tear. But remember the house didn’t have occupants at the time — typically, potential customers were there for a little while.
- You don’t get your desired location
Unlike buying a land and house package where you got to choose your desired location, you’re disadvantaged as there are limited locations you can pick from when it comes to purchasing a display home.
- The home’s design and interiors are already complete
When you build a new house, you get exclusive privileges to choosing your preferred home design, fittings, and styles. However, those selections have already been made for you when you purchase a display home. And it’s an added cost if you decide to upgrade to fit your taste.
Display Homes for Sale
Hotondo Homes offers a range of display homes for sale across some of Australia’s most beautiful locations. By choosing Hotondo Homes, you get a home with quality features and products and in an area that’s in a location surrounded by essential amenities. Our customers love our range of designs, with landscaping already completed plus a generous leaseback guarantee we offer.
Are you interested in investing or purchasing a display home? Check out these display homes for sale.