If you’re thinking about building or buying a new build, you will probably plan to visit one of the builder’s display homes. Before you do, there are some essential things to consider.
Purposes of Display Homes
Display homes, also known as show homes, are constructed to entice buyers to invest in a new home. Potential clients can tour the show home to get a sense of the layout before entering a contract to build a house with the company. Sometimes, display homes are also used as a sales office for the builder.
Builders typically construct show homes that feature multiple upgrades. When you tour a show home, you will not be looking at the basic model. For example, show homes may include upgraded cabinets, countertops, flooring, and outdoor areas. They may even feature a pool or patio. It’s important to review which features are included with the standard package you are considering. That way, when you are visiting a DFH display home, you will have a clear understanding of how the home your purchase will differ from the display home.
Bringing Your Realtor
The builder employs the sales team, which represents their interests. Although they can sell you a home and handle all of the paperwork, their priority is getting the best deal for the company. A buyer’s real estate agent represents the buyer, and their priority is to get the best deal for you. It’s a good idea to bring your agent with you when you tour a display home to represent you if you decide to negotiate a purchase. Do not sign anything when touring a show home to ensure that you do not forfeit your right to be represented by your agent.
Research the Area
Understanding the local real estate market can help you negotiate the best price. If homes in the area tend to sit on the market for a long time before selling, that means they’re overpriced, there’s low demand, or there’s an issue with the area. These conditions favor home buyers. However, if houses sell quickly for asking price or over asking price, the conditions favor the sellers, and you may not have much room to negotiate. Familiarize yourself with the prices of comparable homes in the area and take time to learn about the crime rate and community features. Is there public transit? Are there parks nearby? Do the schools have good reputations? These factors can help determine whether purchasing in the area will be a good investment and meet your family’s needs.
Understanding the local real estate market can help you negotiate the best price. If homes in the area tend to sit on the market for a long time before selling, that means they’re overpriced, there’s low demand, or there’s an issue with the area. These conditions favor home buyers. However, if houses sell quickly for asking price or over asking price, the conditions favor the sellers, and you may not have much room to negotiate. Familiarize yourself with the prices of comparable homes in the area and take time to learn about the crime rate and community features. Is there public transit? Are there parks nearby? Do the schools have good reputations? These factors can help determine whether purchasing in the area will be a good investment and meet your family’s needs.
Determine Your Budget and Priorities
Have a clear idea about your budget before you visit a display home. This can help you temper your expectations because you will know what you can afford. If your budget doesn’t allow for all the featured upgrades, you can prioritize which upgrades you want to include. Having a clear understanding of how much money you have to spend and what’s most important to you will keep you from being persuaded to increase your budget beyond what you can afford. Although it can be tempting to spend your maximum budget, you should also consider your needs and do your best to come in below budget.
Research the Builder
Builders with display homes are established companies. In some cases, they may have been operating for decades, and they may have already constructed hundreds of homes. These builders will have a track record of excellence and a history of satisfying their customers.
Have a clear idea about your budget before you visit a display home. This can help you temper your expectations because you will know what you can afford. If your budget doesn’t allow for all the featured upgrades, you can prioritize which upgrades you want to include. Having a clear understanding of how much money you have to spend and what’s most important to you will keep you from being persuaded to increase your budget beyond what you can afford. Although it can be tempting to spend your maximum budget, you should also consider your needs and do your best to come in below budget.
Research the Builder
Builders with display homes are established companies. In some cases, they may have been operating for decades, and they may have already constructed hundreds of homes. These builders will have a track record of excellence and a history of satisfying their customers.
Websites such as the Better Business Bureau and Angie’s List may be able to provide information about a company's reputation. Building a home is a significant investment, and you will want to be sure you are entering a contract with professionals who will ensure your home meets your expectations. Identify other neighborhoods where the builder has constructed homes and join their community groups on social media. You may be able to get direct feedback from homeowners who dealt with the company, which can assure you that your choice to build with this company is a sound decision.
Till next time... consider the above tips before you visit a display home!
Photos 2, 5 and 6: source
No comments:
Post a Comment
Share Your Thoughts...