Buying a Model Home Can Mean Big Savings

You're taking a chance if you buy the very first home in a new subdivision, but buying a model home, especially if it's the last home, can be a great bargain.

A first-time home buyer in Sacramento decided last month that it was time to take advantage of the falling real estate market before prices start to go back up. We looked at bank-owned and short sale homes, which are sold without warranties in "as is" condition, and we looked at a few overpriced regular listings, none of which really grabbed her fancy.

But when we stumbled into a close-out sale in a new housing subdivision, we hit the jackpot. Prices were rock bottom, yet the builder sold for even less. Plus, the builder threw in a brand new gas grill, all the upgrades and designer window coverings. The home was ready for occupancy and came with a 10-year warranty for about the same price as those REOs . . . read more about Buying a Model Home.

More Articles by Elizabeth Weintraub:

• Buying New Construction
  
• Winning Lowball Offers
  
• Contingent Contracts for Selling Buyer's Home

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