Custom Search





Home
Site Map: START HERE
Rental Property Intro
Investment Strategy
Property Values 101
Find a Property
Financing Property
Cash Flow Analysis
Landlord 101
FREE Landlord Forms
Landlord Insurance
Tenant/Property Law
Rental Property Tax
Foreclosure Property
Commercial Property
Retirement Savings
Sell Property
Property Definitions
Rental Property Blog
Property News
Real Estate Videos
About

Follow Me!
Bookmark and Share

Model Home or New Home?


Show Your Love




Categories
Buying Rental Property
Landlord Advice
Real Estate Financing Tips
Real Estate Investing Strategies
Real Estate Taxes & Insurance
Selling Rental Property
Trends & Current Events

model home

 

Although this site deals with rental property specifically, I sometimes like to broaden the focus to encompass the real estate market in general.  As such, this post summarizes a Wall Street Journal article that focuses on the tradeoffs between building a new home and buying a model home in a newly-developed community. The link to the original article can be found at the bottom of this post.


When participating in an open house for a newly built home community, you could sometimes become so enamored with the model house itself that you may wonder if you should really wait to build your own place. After all, here you can see the finished product, and with most of the furnishing complete, you could save yourself a ton of effort in making the house habitable.

Picking up a model home presents a ton of advantages, like helping you save on rent money and giving you the opportunity to take advantage of current market conditions instead of betting on future volatility. However, this is true only as long as you go into things with your eyes wide open. There are a number of


aspects you will need to be cautious of, like evaluating house options to see if you would really have opted for them if you had built, negotiating extra hard on pricing with the acknowledgement that the house will come to you a little shopworn, and having your attorney go through the real estate contract with a fine toothed comb. With the right due diligence, you will easily be able to establish which choice is right for you.

For more detailed advice on what to look out for, click here.



Leave a Reply

Your email address will not be published. Required fields are marked *

Name *
Email *
Website
Comment

footer for rental property investing page