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New Homes: Buying the Model Michigan

Consider carefully before you decide to buy the model for your new home.

Local Companies

Able Mortgage Group
313-340-1090
18984 Livernois Ave
Detroit, MI
Amstar Mortgage Corp
313-420-0223
950 Marston St
Detroit, MI
Bretlin Home Mortgage
313-864-0963
7631 W Mcnichols RD
Detroit, MI
First Mortgage Fund
313-872-6242
2843 E Grand Blvd
Detroit, MI
Sagetips LLC
231 759 1229
2380 Estes Street
Muskegon, MI
Todd Strobel CMPS
616-464-4400
2828 Kraft Ave SE
Grand Rapids, MI
American Mortgage Centers
517-586-4030
5840 Sterling Drive
Howell, MI
American Mortgage Centers
517-586-4030
5840 Sterling Drive
Howell, MI
Infinity Mortgage
313-245-9931
11175 Balfour RD
Detroit, MI
American Nationwide Mortgage Company
231-421-3200
104 South Union Street
Traverse City, MI

provided by: 

In your search to buy a new construction home, you have surely walked through many model homes.  It is hard not to fall in love with them – they are usually fully upgraded and are perfectly decorated.  If the builder has almost completed the neighborhood, then it may be time for them to sell the model home.  However, you need to carefully consider whether or not it is a smart move for you to purchase a model home.


Pros
There are several advantages to purchasing the model home in your new construction community.

 

  • There is no six-month (or longer) wait for construction.  The house is completed and ready to be occupied.
  • Although it may be more expensive than a new home that you could buy in the neighborhood, it is can be a better value.  It has most likely been fully upgraded, but you probably won’t have to pay full price for those upgrades.
  • It may have special features or upgrades that the builder does not offer in the other new homes.

 

Cons
Even though there can be advantages, there can also be drawbacks to buying the model as your new home.

 

  • It isn’t really a new home.  It has had hundreds, if not thousands, of feet walking through it for a couple of years.
  • Model homes are typically sold “as is.” This applies to the carpet and pad.  All of those feet cause a lot of wear and tear on flooring.
  • It is probably at the entrance to the neighborhood.  This can mean a great deal of car traffic in front of your new home.

 

Questions
If you are considering purchasing the model as opposed to building a new home, there are several questions that you need to ask the builder.

 

  • What is the occupancy date?  Are you going to have to wait a long time before they are ready for you to move in?
  • What repairs is the builder willing to make?
  • How will the builder convert the walkways between model homes?
  • Can you purchase the furniture, linens, or custom rugs?
  • When does the warranty start?
  • Also, ask for a list of the upgrades as well as their cost.  Are you getting a good deal for those upgrades?
  • Will the home appraise without any problem?

 

Think carefully about whether or not purchasing the model home for your new home is a good move for you.  It may be a great way to get the upgrades that you want for a fraction of the cost.  However, it also can make more sense for you to go ahead and build a new construction home.  Weigh the pros and cons before making your decision.

 

Published on February 15, 2007

Read full article at realestate.com

Featured Local Company

Able Mortgage Group

313-340-1090
18984 Livernois Ave
Detroit, MI
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