Buying A Show House - Should we be worried?

Panic Stations

Hey All,

Looking for some advice here.

My partner and I are currently house hunting and came across a lovely new development yesterday. I rang the agent and she informed me that their were no more units left and that they are currently selling the show house fully furnished for a bit more than the general asking price (Not really an issue for us as it's still within our budget).

My concern is however that the house in question has been on the market since early December and still hasn't been sold which raises a few concerns as to why this is the case.

Would anyone have any insight into why this might be the case or if it's something I should be worried about? Would it be building quality, the price, social housing next door or the fact that we might have just got very lucky. I would have thought in the current climate this would have been swept up.

Thank you in advance!

pleh

December 2021? Thats only a month.

Panic Stations

https://www.boards.ie/discussion/comment/118432313#Comment_118432313

Considering new developments typically sell out within a few days says something. Maybe I'm over thinking it too.

FromADistance

https://www.boards.ie/discussion/2058226426/buying-a-show-house-should-we-be-worried

My main concern would be the price... estate agents love to think that these places are worth extra when all they've done is spend 10k on soft furnishings. I am aware of a show house that went for 60k over the cost of a new house all because it went on the open market and was furnished. Wasn't even south facing either. That being said 450k is now the asking price for a similar house on the same road. Buyer beware and all that.

Princess Calla

Not everyone wants to buy the showhouse!

A friend of mine did, single guy absolutely delighted with himself that he didn't have the hassle of kitting it all out.

Packed his bags from rented house, unpacked them and job done!

Myself personally I'm an oddball so I'd be constantly thinking who sat in these chairs, did someone have a quickie in the bed etc etc. I just wouldn't be comfortable.

Then you'll also have people who either already have a van load of furniture or just want to decorate it their own way so buying the showhouse wouldn't be their first option.

Thoie

As Princess Calla said, it depends on where you are in life. For some people, a fully kitted out place is fantastic, particularly if they have no major interest in interior design. If you have all your own furniture in particular style that doesn't match what's in the showhouse, then you're paying more for stuff that you may not want, and will have the hassle of removing, or trying to sell/dump your existing stuff.

If you like the style it's done in, and think it's worth the additional cost, go for it.

awec

If you like the decor there's no real downside. Depending on the premium you are paying it would be worth getting clarification on what type of flooring was laid

MSVforever

The showhouses in our estate went for €45k more than the normal price. I tallied up the furniture, flooring etc and it would have come to €20k so they easily paid €25k for the convenience of having a furnished house. Btw folks who bought the show houses had no warranty on the furniture, flooring, etc (this was specifically mentioned in the brochure). Depending on the quality of furniture etc I would be vary to pay a hefty price tag for the convenience.

This might apply only to our estate but there is no harm to be cautious.

Mrs OBumble

Who is living next door now???

Panic Stations

We do like the idea of moving into a house fully furnished. Just means we can move in straight away and not waiting for couches, beds and floors to go in which could take an extra month or two of paying both rent and a mortgage at the same time.

Who's living next door is always a concern. I can't imagine that an estate agency would place a council house beside a show house that potential buyers would be viewing.

Del2005

https://www.boards.ie/discussion/comment/118434647#Comment_118434647

There's more than councils buying properties in new developments. 20% has to be sold by law to the local council, there's nothing stopping housing associations buying any or all of the remaining 80%.

Princess Calla

Would you not just "rough" it for a few weeks? Once you have a working kitchen and bathroom you'd survive on a blow up bed or even get an Ikea sofa bed.

Very few people move into a house with everything in situ.

Panic Stations

https://www.boards.ie/discussion/comment/118434727#Comment_118434727

We'd have no problem doing that but all the other units in this development have sold out. The show house is the last unit available.

Panic Stations

https://www.boards.ie/discussion/comment/118434710#Comment_118434710

Oh really? I thought it was 10% of them.

Princess Calla

https://www.boards.ie/discussion/comment/118434767#Comment_118434767

Looks like you're buying the showhouse so :)

Just watch for the availability date especially if there's another phase to be released.

omanomad

https://www.boards.ie/discussion/comment/118434616#Comment_118434616

20k seems very low to kit out a house. Even so, a 25k premium for the convenience of having a furnished house seems good value to save you the heartache of traipsing about ikea and other furniture places for weeks on end, trying to figure out what will fit and match with the other decor, waiting months for some items to be delivered etc, I’d happily pay that amount. Plus the cost is included as part of your mortgage so you won’t even notice the cost as it’s spread over such a long time period at a low interest rate.

Panic Stations

https://www.boards.ie/discussion/comment/118434791#Comment_118434791

What? I said I would have no problem buying the show house. haha

Mrs OBumble

https://www.boards.ie/discussion/comment/118434770#Comment_118434770

10% is the minimum.

There's no maximum.

Princess Calla

https://www.boards.ie/discussion/comment/118435366#Comment_118435366

Yeah I know ☺️

As it's the last house available that's why I said go for it.

As I said though, make sure of when the house is available especially if there's more phases to the build. I doubt they will do a show house for each phase so the house may not be available to move onto for another few months.

shesty

I'd say Christmas just happened tbh, viewing and buying may just not have been on the minds of many people.

Doesn't sound like there is a "catch" as such, some people may just want to put their own stamp on things.If you're happy with it and it is in your budget I don't see why you wouldn't go for it.

Del2005

https://www.boards.ie/discussion/comment/118434770#Comment_118434770

10% social 10% affordable, but as I said housing associations are also buying units.

https://www.citizensinformation.ie/en/housing/owning_a_home/help_with_buying_a_home/affordable_housing.html

billyhead

https://www.boards.ie/discussion/comment/118435490#Comment_118435490

This happened in my estate. The Council went on a spending spree buying up privately sold houses.

FromADistance

https://www.boards.ie/discussion/comment/118435490#Comment_118435490

That's not what you originally said in fairness.

https://www.boards.ie/discussion/comment/118434710#Comment_118434710

And the link quoted states that the percentages apply in certain circumstances.

It's important to get the facts correct before you start pulling someone else up on their post.

Panic Stations

Can you ask an estate agent what houses are council owned in the estate? Like could you ask if there's one next door and would they tell you?

Wolftown

https://www.boards.ie/discussion/comment/118436277#Comment_118436277

We asked when looking a few years ago and the agent had no issue telling us. No harm in asking!