Should you buy a Display Home?

Ever wondered what happens to those beautifully designed and immaculately presented display homes once they’re no longer needed? The answer is that astute people buy them and get to experience that top-of-the-range luxury every day! (Or they rent them out while they watch the value of their investment grow.)

Whether you’re a display home junkie who dreams of living in such a glorious space, or a hard-nosed investor focused solely on financial returns, there’s a lot to like about the left-field option of buying a display home.

Benefits of buying a display home

  • Buying a completed display home is a great way to purchase a brand-new home and avoid the building process.
  • Display homes are a major marketing tool for builders, so they are likely to have more extensive landscaping and street appeal. They are also meticulously maintained with regular professional cleaning and garden maintenance.
  • Most display homes showcase premium options, so you will generally be getting the best available fixtures, fittings and other additions.
  • Display homes have far less wear and tear than other properties of a comparable age, especially for appliances, as they are only used for viewings and are kept in top condition.
  • They are located in growth corridors, whose high demand ensures your property’s value is likely to increase.
  • Often, you can negotiate big discounts on items such as interior designer furnishings which are used to transform a display home into a ‘home’.
  • It is also a popular move with property investors, for a number of reasons. Leaseback agreements generally net a higher-than-average rental return, and they ensure there is no vacancy period from handover. You’ll also have a guaranteed rental income for the period of the leaseback contract, meaning you’ll avoid property management fees.

How is it different to buying a traditional home?

There are many differences between buying a display home versus a traditional home. Most are actually benefits, as we’ve already discussed. The biggest challenge for most people is obtaining finance – due to the unique situation of buying a display home, it can be difficult to get a loan with some lenders. But with the help of a mortgage broker who is experienced in the ins and outs of buying display homes, you shouldn’t have any problem getting finance.

This article explains the process to obtain finance for a display home in more detail.

Want to learn more?

With an experienced professional behind you, you’ll be pleasantly surprised at how easy it is to buy a top-of-the-range display home with all the trimmings (often for much less than a traditional home).

Contact Mark at Mortgage Domayne (mark@mortgagedomayne.com.au) to learn more about the process of purchasing a Fairhaven Homes display home.

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