Everything You Need to Know About Buying a Showhome

If you're in the market for a new home, consider purchasing a showhome. But what is a showhome, and what should you know before buying one? In this blog post, we'll provide an overview of showhomes, including what they are and how they work. We'll also provide some tips on what to look for when buying a showhome, and we'll discuss the pros and cons of this type of purchase. 

 

What is a showhome?

A showhome, also known as a model home or display home, is a fully furnished house built by a builder or developer to showcase their work and entice potential buyers. Showhomes often feature the latest designs and trends in home construction and decor, giving visitors a glimpse into what their future home could look like. Many showhomes are open for public tours at scheduled times, while others can be privately viewed by appointment only. In addition to the main living areas, showhomes may also include optional features such as finished basements or bonus rooms. While some showhomes are sold after the tour period ends, others may remain as permanent displays for future potential buyers to view. So the next time you visit a new housing development, be sure to check out the showhome for some inspiration and ideas for your own dream home.

 

Why should you buy a showhome?

When it comes to buying a home, many people are torn between purchasing a pre-built or newly constructed showhome or building their own custom house. The benefits of buying a showhome often go overlooked, but there are numerous advantages to consider. First and foremost, buying a showhome means that the building process has already been taken care of- no need to wait for construction timelines or deal with potential delays. Showhomes also come fully furnished, allowing you to move in immediately without the added stress and expense of furnishing the entire house yourself. Perhaps most importantly, purchasing a showhome generally costs less than building your own custom home. Plus, with multiple options available in many neighborhoods, you have the opportunity to choose from various layouts and styles without having to compromise on your dream features. Overall, purchasing a showhome is a great option for those looking for a turnkey solution to their housing needs.

 

What should you look for when buying a showhome?

When shopping for a showhome, it's important to remember that the space has been carefully designed and staged to impress potential buyers. That being said, there are still key factors to consider before making an offer.  First and foremost, make sure that the layout and design of the home meet your needs and lifestyle requirements. Take note of any structural concerns, including the condition of flooring, walls, and ceilings, as well as any noticeable issues with plumbing or electrical systems.  It's also important to research the neighborhood and surrounding community. Consider proximity to essential amenities like schools, grocery stores, and public transportation, as well as any potential noise or disturbance from nearby construction or businesses. Ultimately, buying a showhome is a major investment, so be sure to thoroughly inspect all aspects before making a decision.

 

How much does a showhome cost?

The cost of a showhome can vary greatly depending on factors such as size, location, and the level of luxury. Generally speaking, smaller showhomes in suburban areas may cost anywhere from $500,000 to $1 million, while larger homes in upscale neighborhoods may cost upwards of $3 million or more. These prices are often heavily subsidized by developers in order to attract potential buyers, but they also reflect the high-end upgrades and furnishings that make the home more attractive to potential buyers. It's important to keep in mind that while the price may seem steep, purchasing a showhome often means getting access to top-of-the-line materials and amenities without having to go through the time and expense of customizing a newly built home oneself.  However, it's important for potential buyers to consider whether the added price is worth it for them and their individual needs. As always, doing a thorough research and carefully weighing all options is key in making a decision about buying a showhome.

 

How do you finance a showhome?

When financing a showhome, there are several options available to potential buyers. The first option is to use cash or savings to cover the cost of the showhome. This can also include using equity from a current home or property as partial or full payment for the showhome. Another option is to take out a mortgage loan from a bank or lending institution. This allows for regular monthly payments, often with the added benefit of interest rates and payment plans that fit individual financial needs. Finally, some showhome developers offer in-house financing options, offering upfront discounts or lower monthly payments for those who choose this option. Ultimately, it is up to the potential buyer to decide which financing route best suits their needs and financial situation when purchasing a showhome.

 

Conclusion 

If you are considering purchasing a showhome, be sure to keep the following in mind. First, always consult with your real estate agent to get their professional opinion on the best property for your needs. Second, make sure you have an idea of what you can afford and stick to that budget. Finally, remember that purchasing a showhome is a big decision – take your time and think it through before making any commitments.