| Tip #20 in our series of 70 ways to save money | | | | inventory home, there is no difference between it |
| when buying a house is to buy a new home from | | | | and any other home the builder builds. In fact, if it |
| a builders inventory. | | | | was an inventory home, you know that |
| An inventory home is a brand new home built by | | | | everything in the house works, and it will have |
| the builder but without an owner. Either the | | | | the best of the best upgrades. |
| person who wanted the house built backed out of | | | | If there is anything you do not like about the |
| the contract or the builder built it as a way to | | | | home, you can ask the builder to replace it or |
| keep his staff working, or a model, or a way to | | | | change it at no cost. For example, my wife and I |
| add built homes to the neighborhood. | | | | went to look at a condo complex recently. They |
| Whatever the reason of the inventory home, it | | | | only had one left. And it had wood floors. I prefer |
| can be a bargain for you. Builders hate having | | | | carpet, so the builder was more than willing to |
| empty houses sitting around. They try to build as | | | | take out the wood and put in top of the line |
| fast as possible and move to the next area. If a | | | | carpet, at not cost. The condo also had the best |
| home is already built and sitting empty it is called | | | | appliances as well. If we had bought this same |
| an inventory home. | | | | condo earlier and chosen the top of the line |
| Builders often have specials on these homes. | | | | carpet and the same appliances we would have |
| They offer great deals to get the home sold. But | | | | paid thousands in upgrade charges. |
| most do not offer the deals to people without | | | | Buying an inventory home or condo is a great |
| Realtors representing them. So check to see if a | | | | deal. You get to see what the house will look like |
| Builder you like has any inventory homes and get | | | | when you move in, the builder is desperate to sell |
| your realtor to negotiate for you. | | | | it, and you get a brand new house or condo for |
| Builders get loans to build houses. The longer a | | | | less than what your neighbors paid. That is instant |
| home is sitting there empty, the more payments | | | | equity! |
| and interest the builder has to pay on that house. | | | | If you are looking to buy a new house or condo |
| So the builder wants to unload it, quickly. And to | | | | from a builder, an inventory home is a great way |
| do this, the builder will reduce it several thousand | | | | to save you several thousand dollars. And you |
| dollars. It will cost much less than having the | | | | can have an agent represent you and save |
| builder build you the same model from scratch. | | | | thousands on the commission like I discussed in |
| The only drawback is that the appliances will | | | | Tip #1. You get the best of both worlds: you |
| already be installed and you will not get to pick | | | | save several thousands of dollars and get a brand |
| the model or lot. But if you happen to like an | | | | new house. |