September 29, 2020 5min read
Have you ever walked into a display home and fallen head over heels? You could chase specification sheets, supplier details and colour schemes to try to recreate the home exactly… or you could just buy it (yes, you can do that!)
A lot of people are unaware that our display homes are put up for sale around 3 months post completion and then rented back by us. So, why would you buy a display home? There’s a tonne of reasons why customers choose to go down this route, so we thought we’d save you the hard work and summarise the most common below!
Convenient leaseback agreement
Many investors often ask us ‘Is a display home a good investment?’ to which the answer is always a resounding yes! When you buy a Porter Davis display we sign a leaseback agreement in which the home is rented back by us under a 2-3 year period, with a much higher return than a normal property rental in the area. It’s important to note that the length of this agreement can vary and is of course dependent on certain factors, such as the lifespan of the display village.
For many investors this is one of the main benefits of buying a display, as there’s no gruelling hunt for reliable tenants or money wasted on expensive property management, inspection or letting fees. For any first timers, buying a display minimises any risk in the first few years of building a portfolio, so they can be a fantastic place to start. Did we also mention you can still claim depreciation?
When weighing up the pros and cons of buying a display, it’s important to factor in the unbeatable amount of quality inclusions that have been built into the home. The very purpose of a display is so builders can showcase to customers the best of what they can offer, and for this reason these homes are renowned for their cutting-edge design elements and superior quality. They also come with beautifully landscaped gardens and outdoor living areas, adding thousands to the home’s already high value.
Porter Davis designers are some of the best in the industry, and it shows in our homes! A key benefit of buying a display is the amount of consideration that has gone into every aspect of the build. Whether it’s herringbone flooring or coffered ceilings, these homes have been designed to be on the front foot of current trends and you can expect truly breathtaking style elements, executed by an award-winning design team.
Once it comes time to close the display, owners also get first choice on whether they’d like to purchase the furnishings or not. This means you can access massive discounts on high-end quality brands like Coco Republic, while savings thousands on an interior designer.
As display homes don’t have people living in them over the initial builder lease period, wear and tear is not an issue. To ensure the home looks magazine-perfect at all times it is tended to by professional cleaners, gardeners and maintenance workers, which means when you’re ready to move in (or rent the house out to tenants) your home will be returned to you in near-perfect condition. Each display is also protected by a high-end security system — so you can sleep easy knowing your greatest asset is protected!
When buying a display, your new home will be surrounded by the highest quality homes in your new estate — definitely a plus for any future valuations!
There are so many reasons to consider buying a display — from fuss-free tenants to securing a high-end build with all the bells and whistles.
Does buying a display sound like the perfect option for you? Right now we currently have a number of exciting, new displays on the market in a number of sought-after estates.
Head to our special offers page to see some of our top display picks!