As you consider the advantages and disadvantages of choosing an inventory home, notice how the very same issue, can be both a pro and a con depending on your perspective. Builders don't necessarily play by those rules.Īs you can see perspective is everything. When buying a home from a private seller, there's more negotiating power depending on how long it's been on the market, recent comps in the area, desperation of the seller, etc. Lowering a price significantly impacts the builder's future pricing. All the homes in a community are referenced against each other to come up with comps for future sales. Builders don't like to offer big discounts on their new construction. Or the builder may be willing to add some upgrades to the home in lieu of reducing the cost.ĬON 4 Not much price negotiating power. Your agent may be able to get the builder to pay the closing costs. Though price may not be negotiable, the builder might be willing to sweeten the deal with other upgrades or bonuses to entice you into buying their spec home. PRO 4 The builder may be willing to negotiate bonuses. If you wanted that big corner lot or the house that backs up to the woods, you may have to compromise on your wish list.
You don't get to decide what your view will be. You don't get to choose where you'll build it. Not having to make a temporary move into a short-term rental while you're waiting for your house to be built is a big bonus.ĬON 3 It's already built. Depending on the situation, you could be moving in before a month is up! For families relocating, such as military or corporate moves, this is a huge plus. All you need to do for an inventory home is work out the process of the legal issues and closing timeline. The custom building process can be 4- 6 months. You don't have to wait for it to be built. PRO 3 It's already built! You get to move in relatively quickly. Though there may have been a little foot traffic. If you can keep from getting hung up on this issue, an inventory home is still a home that has never been lived in. Some people like to be the first and only people in their new home. It may be the model home that has been used as the show home for a few months. Money tied up in finished unsold homes, means less money to invest in the next build.ĬON 2 It can be "gently" used. Builders are anxious to get these houses sold. Builders sometimes have inventory that was custom built for a client, but something happened in the process and the buyer backs out. In some cases it won't even be the spec home. It may have been a show home, but you get to be the first inhabitants. PRO 2 It's almost brand new! No one has lived in it. Work with a qualified agent like one of our excellent agents at to negotiate with the builder for upgrades and customizations that may be possible, even in an inventory home. Especially if it's a home that is not quite done, but the deal fell through. In some cases the builder may be willing to throw in some of the changes you are looking for in order to make the sale. Can you live with the things that don't meet your wish list expectations? If you can, an inventory home may still be the right choice for you. You'll have to make some tough decisions. Maybe you were hoping for hardwood throughout and the flooring is carpet in the living room and bedrooms. And though an inventory home may have many of those details, there are bound to be things you'll have to bend on. You might have a list 20 pages long of things you want to make sure you get in the next home you buy. When dreaming of the perfect home, most people have put some thought into the styles, colors, and finishes they like. At no cost to you!ĬON 1 You don't get to make all the choices.
#Home inventory business reviews professional
Though you may not get to choose the specifics, you could see this as having a professional designer choosing for you.
Many Spec homes have upgrades that highlight the builders coveted features. With an Inventory home you'd be spared that labor. What!?! As much fun as it may seem to choose paint color, counter tops, and crown molding, after decision #126,002 your head might be spinning. PRO 1 You don't have to make all the choices! It has been estimated there can be as many as 400,000 decisions to make while building a house.
Below is a discussion of the pros and cons of Inventory Home buying. These homes are great opportunities and in many ways bring together the best of both the previously mentioned options. As a builder finishes building in a community, they need to sell the home that has been showcasing their work. Builders call them Inventory Homes, Spec Homes, or Model Homes. But there's one other option you should consider. As you consider your options, you'll likely focus on two choices custom building or buying an existing privately owned home. Making a purchase that large can feel overwhelming. Buying a new home is one of the most exciting and scary things you'll do in your lifetime.
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