thoughts on model home purchase.

[JustinH]

Wife and I are looking for a house in the San Antonio area.

It turns out we looked at a lot of older houses (1970's-1990's), that would need a lot of work.

They were priced very similar to new builds in outlying areas.

Anyways, we are looking at Lennar. They seem to have decent build quality, and nice high efficiency features.

Typical cookie cutter style house, we are fine with that.

Anyways, they are closing out a neighborhood that was built in 2017.

They have the model house left, they showed it to us yesterday.

It is in the process of being converted back to a regular house. It was the welcome center, and sales office, so they turn the garage into an office with french doors, etc.

Lennar says they are going to repair the house to new standards. Price is $185k.

They said that they would not put it up for sale until its completely converted and repaired.

Then based on what they spent on conversion, they would determine the discount they offer.

I think they should repair it and give about a 20k discount.

People have been walking in and out of this thing for a year, AC blowing non stop, everybody touching everything for a year, etc.

Also considering a smaller house on the same street that was just built for about $169k.

 

[hatt]

Models tend to have a lot of upgrades. Nice if you can get a good price.

 

[Timo325]

Yup agree with hatt, they are made to look good. Something to consider, but then again it'll be in the price.

 

[Old Mustang Guy]

I like Lennar. I would like a model. Probably a nice yard already with good landscaping.

 

[aquariuscsm]

Me,I prefer the 1950s-1970s houses. Beautiful architecture,built rock solid,huge rooms,real hardwood,huge yards in established neighborhoods,and no hoas. The mid century modern/Art Deco styles are my favorite.

 

[Mr Nice]

Originally Posted by aquariuscsm
Me,I prefer the 1950s-1970s houses. Beautiful architecture,built rock solid,huge rooms,real hardwood,huge yards in established neighborhoods,and no hoas. The mid century modern/Art Deco styles are my favorite.

Me too...

But an old house requires LOTS of upgrades and work.

 

[maxdustington]

Originally Posted by JustinH
I think they should repair it and give about a 20k discount.

People have been walking in and out of this thing for a year, AC blowing non stop, everybody touching everything for a year, etc.
Lol, a house is not a car!

Originally Posted by Mr Nice
Originally Posted by aquariuscsm
Me,I prefer the 1950s-1970s houses. Beautiful architecture,built rock solid,huge rooms,real hardwood,huge yards in established neighborhoods,and no hoas. The mid century modern/Art Deco styles are my favorite.

Me too...

But an old house requires LOTS of upgrades and work.

It depends if you want to develop the property or just live in it for a short period and then sell it.

You can't beat the character of an old house.

 

[hatt]

Most people want to live in a house instead of working on it constantly. People these days can't be bothered to mow a small yard.

 

[928]

Why would they give a 20% discount? It's not like it was lived & everything used. Negotiate a warranty on the hvac unit. They are going to repaint it & I guess recarpet it. What else is there?

 

[JeffKeryk]

They will get what the market will bear. Just like you would if you were selling.
Generally, you are not buying the house, you are buying the zip code.

 

[hatt]

Originally Posted by 928
Why would they give a 20% discount? It's not like it was lived & everything used. Negotiate a warranty on the hvac unit. They are going to repaint it & I guess recarpet it. What else is there?

An empty model in a built out community isn't something a builder cares to hold on to for long. They are willing to deal a lot of times. It's not going to be 20%.

 

[walterjay]

As previously stated, a model can have a lot of nice upgrades. If you can get it for a nice discount, go for it.

 

[Rick505]

Also depends on how fast homes sell in the area. First thing I think of when a Model Home is mentioned, and mentioned above, is included upgrades.

 

[PimTac]

They will likely bring the garage back to its original intended design and make repairs to any nicks or wall bumps. Carpeting usually gets shampooed or steam cleaned. Replacement is done if the damage is severe.

The key will be the acceptance walkthrough. Look for things like cabinets with scratches or doors that are marred.

The main thing to consider is the location. Usually the model home is located at the entrance of the development. Location is important. Consider traffic and privacy.

 

[ammolab]

Originally Posted by 928
Why would they give a 20% discount? It's not like it was lived & everything used. Negotiate a warranty on the hvac unit. They are going to repaint it & I guess recarpet it. What else is there?


Why a discount?....because housing in San Antonio is a different market from CALIFORNIA, WAY different!

 

[ecotourist]

Model homes often have expensive upgrades and especially nice colours. After it is brought up to sales standards, unless there is visible wear, they'll probably ask full price.

 

[JeffKeryk]

Good luck. Make an offer; ya never know!
If you do decide to get it, enjoy your new home.
Years ago, when a pipe burst in my 1st house, my father told me, "You are living the American dream!"

 

[SeaJay]

I'd be rather leery about buying a home with a 20% discount. Why couldn't they sell it for more? Is the neighborhood becoming a tough sell? Did they skimp on labor just installing the stuff long enough to get through the model stage?

Too many questions without good answers if in fact they give a 20% discount from the other homes. My guess is the discount will be just large enough to get the home sold quickly so they can get out and move on to the next project, and no where near 20%.

 

[JustinH]

It is a 20k discount not 20 percent.

 

[hatt]

Originally Posted by JustinH
It is a 20k discount not 20 percent.


Where did you come up with the $20k number? I doubt the builder is on that page.