Buying model homes
- Thread starter Leano
- Start date
usctrojancpa
Well-known member
Don't ask me...buying a model home is probably the worst purchase that you can make. You are paying full retail mark-up on the builder's upgrades and your tax rate is based upon the elevated price. As they say, never buy the best/most expensive house on the block.
Ready2Downsize
Well-known member
USCTrojanCPA said:
This one looked better with the model home furnishings:
https://www.redfin.com/CA/Irvine/143-Pavilion-Park-92618/home/80161229
I think they bought it for about $500/sq foot which I thought was fully priced but maybe they decided it was worth flipping for a few bucks. IMO, not worth more than what they paid minus closing costs.
I think it depends. For example, the Melrose models in PP were on the largest lots and they all had pools, longer driveways, no house in front, etc. So if that's what you wanted, you would have to buy the model (with the plus of skipping the headache of doing all the work after). Now for your run of the mill model home, 2500sf, postage stamp size lot, not sure how it makes sense....
Yeah, most model homes are better located and some have better lots, no neighbors, some may have views, etc.
I know one person who bought one because they didn't want to deal with construction and contractors as they travel/not here 90% of the time, just buying to buy, and buy now, wanted to diversify asset more than looking for returns.
I know one person who bought one because they didn't want to deal with construction and contractors as they travel/not here 90% of the time, just buying to buy, and buy now, wanted to diversify asset more than looking for returns.
Agreed. If you want to replicate what the model has then it might make sense to just buy it. Like Bones said, many of the model homes have the best lots, have a ton of options and fantastic landscapes. Even though they are the most expensive house they're sometimes selling at less than the cost the builders put in them. I remember KHov homes at PP were selling their model homes at about $300k over the normal homes, but the sales lady told me they put in well over $500k into the model. If you want all that it just might be a good deal.
aquabliss
Well-known member
Then there's these guys who are just completely crazy and wasting everyones time.https://www.redfin.com/CA/Irvine/193-Compass-92618/home/88015927
aquabliss
Well-known member
bones said:
I think only one of the Melrose models had a pool (the one where the sales office was):https://www.redfin.com/CA/Irvine/125-Branch-92618/home/64836106https://www.redfin.com/CA/Irvine/127-Branch-92618/home/64349325
I gotta say though 125 Branch is one of my all time favorite back yards. Very cozy while being open with defined spaces. Love that yard. I took my contractor to that yard just to ask him how much he would charge to do a yard just like that. He said around $110k then I just sobbed and walked home.
usctrojancpa
Well-known member
aquabliss said:
And just lingering on the market like a bad habit. Complete wait of everyone's time. I'm surprised the listing agent even took the listing, I would have told the seller they should go with another agent because I wouldn't feel right about listing it at such a stupid price.
OC troll
New member
aquabliss said:
I went to this open house. Can't belive the condition. The paint is chipped, grout is filthy in the bathrooms, damage on baseboards, the carpet is stained. The inside of the house feels like its 5 years old with all the wear and tear. Doesn't feel like the owners really cared about the place. Apparently they're rich Russians that "supposedly had to move back to Russia", but later found out they bought a place behind the gates in OH.
