With recent urban development projects being implemented all around Sydney, more citizens are attracted to the Australian city in search of housing options. One suburb in Sydney, Kellyville, is expected to add 8400 new homes in the next 20 years! Its strategic location amidst a mix of urban and rural settings offers residents a variety of lifestyles.
If luxurious living is what you seek, Kellyville display homes are designed to provide you with what you deserve! Kellyville boasts many upmarket locales, and you can choose to be a part of this fantastic selection of neighbourhoods.
These display homes are designed with an eye towards modern living with the newest trends and designs.
But what is the experience of living in a display home? How is it different from other properties, and what benefits are attached to buying it? Let’s explore these questions.
The Good: A Window into Luxurious Living
Owning a display home means mingling with the best of the best. Display homes are located in the most affluent localities, with stunning vistas guaranteed.
Kellyville comprises various posh regions and several housing estates where you’d love to own real estate.
Rest assured, owning a display home ensures you have the best house on the street! What’s more, the streetscape around your home is exquisite. The properties around you are going to be top-notch! It plays a big part when determining the value of the property from a resale point of view.
The Bad: It is Hard to Get Financing for Display Homes
The primary limitation concerning purchasing display homes is the finance. There are many instances where potential buyers like property and put a deposit on it, only to see the deal fall through because of a lack of financing options. Most lenders treat this exchange as a retail purchase, not a residential one.
The reason for this, in simple words, is that a display home doesn’t have somebody living inside it. The house is shown on “display” throughout the week for potential buyers.
Because of the lenders’ inclination to treat this as a retail purchase, a person looking for loan financing options is limited by the number of banks they can approach. Many banks are reluctant to approve a residential home loan for this purchase.
The Not-So-Ugly: The Benefits of Owning a Display Home
There are several advantages associated with display homes. You can consider these aspects when contemplating purchasing one yourself.
- Leaseback period
The rental return associated with display homes is very strong. You can expect more than double returns compared to the standard residential market rate.
- The property is never occupied.
What this translates to is that you receive the property in pristine condition. The property’s wear and tear are negligible compared to if there were occupants previously living inside the home. Everything in a display home is up to scratch!
- It’s got all the bells and whistles!
Regarding display homes, the quality of construction is second to none. Potential buyers eye these properties, intending to own their dream home. So everything – from the materials used to the landscaping done – is nothing short of top quality.
Signing Off
Kellyville display homes are designed to be the best. What you get is nothing short of abundant living. However, there are some setbacks that you may face while purchasing the display home of your choice, especially concerning financing.
One needs to be clear in their decision and have a thorough understanding before putting pen to paper.
