Should I buy the show home or built a same one?

[vtec96]

I have been living in a Condo/Apartment for 7 years and it's time to move on.

Since it's my first house, I have no idea about lots of stuff!

Benefits of buying a show home?
1. Just need to wait for 3~5 months to move in.
2. Comes with all upgraded stuff
3. better location

However, there are still some layouts that I don't like..
So I was thinking about to built a same one with the layouts I like.

The show home is asking around $770K If I built a same one (without so many upgrades), it's around $680K


Do you really get lots of benefits for buying a show home?

[Kobe]

They always make sure the Showhome looks a lot nicer then all of there other houses (Pretty much every company) so that is def a + to buying a showhome...

[sputnik]

A problem with highly optioned show homes is that you rarely get the money back from all of the upgrades.

Generally people will not build a house that is optioned as much as a show home and should you ever sell your place the price your realtor calculates will be based on an average price per sq ft in the area.

So if your ensuite may have $20,000 worth of marble tile and high end fixtures but you probably won't get any of that back when you sell.

[89coupe]

Originally posted by sputnik
A problem with highly optioned show homes is that you rarely get the money back from all of the upgrades.

Generally people will not build a house that is optioned as much as a show home and should you ever sell your place the price your realtor calculates will be based on an average price per sq ft in the area.

So if your ensuite may have $20,000 worth of marble tile and high end fixtures but you probably won't get any of that back when you sell.

Nonsense, I added more upgrades to my home then the showhome had...lol...and pretty much every friend I know has done the same with their home.

[ArjayAquino]

Originally posted by 89coupe


Nonsense, I added more upgrades to my home then the showhome had...lol...and pretty much every friend I know has done the same with their home.

agreed, otherwise what's the point of renovations (other than makin it nicer) ??

[ercchry]

Originally posted by sputnik
A problem with highly optioned show homes is that you rarely get the money back from all of the upgrades.

Generally people will not build a house that is optioned as much as a show home and should you ever sell your place the price your realtor calculates will be based on an average price per sq ft in the area.

So if your ensuite may have $20,000 worth of marble tile and high end fixtures but you probably won't get any of that back when you sell.

i think you need a new realtor

[Lex350]

I would never, ever buy a showhome. Build quality is usually lacking.

[88CRX]

There does become a point when you price or upgrade your house out of the market of the neighborhood.

[vtec96]

Originally posted by rotten42
I would never, ever buy a showhome. Build quality is usually lacking.

It's a model home so the quality should be better?

[89coupe]

Originally posted by 88CRX
There does become a point when you price or upgrade your house out of the market of the neighborhood.

Usually people upgrading at that level are already building in a neighbour hood that can support it.

[max_boost]

Not a worry. New home prices will go up 10% this year.

[sputnik]

Originally posted by 88CRX
There does become a point when you price or upgrade your house out of the market of the neighborhood.

Which is the majority of show homes.

I remember a couple of years ago the showhomes in Copperleaf (nicer section of Copperfield).

The area was in the $480-600k range (Jayman, Baywest, Cedarglen, Cardel etc). However the showhomes were all in the $700-850k range. Sure they were nice. However they were all $500k houses optioned like crazy with finished basements, walkout lots and over the top finishings.

At $700-850k I would rather buy a base model house in an estate area built by Morrison or Albi and not be the most expensive house on the block.

[thinmyster]

Originally posted by 89coupe


Usually people upgrading at that level are already building in a neighbour hood that can support it.

Agree. he is looking at almost million dollar homes/neighbourhoods not 300 thousand dollar starter homes

[sputnik]

Originally posted by ercchry
i think you need a new realtor

Not really. Ask any realtor and they will tell you the same thing.

You can put a $1000 Toto toilet in your bathroom or $20 sq/ft exotic hardwood floors, but you aren't going to get that back when you sell the house because 99.9% of buyers don't care that much about buying overpriced bling at builder markup.

Even finished basements rarely net what was invested. A typical 800-1000 sq ft finished basement will add $30,000 to the selling price, but a builder will charge you $50-60k for them to do it initially.

[89coupe]

Originally posted by sputnik

Even finished basements rarely net what was invested. A typical 800-1000 sq ft finished basement will add $30,000 to the selling price, but a builder will charge you $50-60k for them to do it initially.

Now I know you are just full of shit...lol

[ercchry]

Originally posted by 89coupe


Now I know you are just full of shit...lol

no its simple, he does not value upgrades so he assumes that 99.9% of buys do not either

is the most expensive house on the block for everyone? no... but there are people out there that do want the most expensive house on the block, and will pay the money for it

[turbotrip]

Originally posted by 89coupe


Now I know you are just full of shit...lol

lol

[lint]

have to agree with sputnik on this one, since he's talking about resale value. If you put $30K in mods to a car, do you realistically expect to sell it for $30K more than stock? Same goes for a house.

[arian_ma]

Does your car price appreciate too?

[89coupe]

Originally posted by lint
have to agree with sputnik on this one, since he's talking about resale value. If you put $30K in mods to a car, do you realistically expect to sell it for $30K more than stock? Same goes for a house.

Homes appreciate, put the crack pipe down.