Definition
A Model Home is a fully constructed and furnished home displayed by builders to showcase their design aesthetics, craftsmanship, and the features available in other homes they plan to sell. These homes serve as tangible examples of what potential buyers can expect in terms of layout, quality, and finishes in their future residences.
Detailed Explanation
Model Homes are strategically crafted to appeal to prospective buyers by providing a visual and experiential representation of the builder’s capabilities. They are often located within new housing developments and act as a promotional tool to boost sales of similar “spec” (speculative) homes. By walking through a Model Home, buyers can better visualize living in the development, which aids in the decision-making process.
Key Features of Model Homes
Design and Layout
The design and layout of a Model Home typically highlight the most popular and aesthetically pleasing options. Builders often include upgraded features and premium finishes to demonstrate the full range and potential of the property.
Furnishing and Staging
A Model Home is generally fully furnished and professionally staged to help buyers envision the lifestyle that the home and community can offer. Staging can include furniture, décor, and even landscaping.
Technological Integrations
Modern Model Homes might showcase smart home technologies, energy-efficient systems, and other innovative features that appeal to contemporary homebuyers.
Types of Model Homes
Standalone Model Homes
Standalone Model Homes are separate units built specifically for demonstration purposes and are often available for viewing throughout the entire sales period of the surrounding community.
Repurposed Spec Homes
In some cases, builders repurpose a home that was initially built as a speculative home to serve as a Model Home. These homes may later be sold as seen, often with the furnishings included.
Historical Context
The concept of Model Homes has been around for decades, gaining popularity post-World War II during the suburban housing boom. Builders recognized the value of demonstrating their product in a tangible and appealing manner to attract potential buyers.
Applicability in Real Estate
Marketing Tool
Model Homes are an essential marketing tool in real estate development. They help create an emotional connection for buyers, making it easier for them to decide on a purchase.
Presales and Sales Promotions
Model Homes often serve as the centerpiece for presales and sales promotions, including events and open houses designed to drive traffic and generate interest in the development.
Comparisons
Spec Homes vs. Model Homes
- Spec Homes: These are homes built on speculation, meaning without a specific buyer in mind. They are typically move-in ready once complete.
- Model Homes: These serve as a showcase and are intentionally built for demonstration purposes. They may not be immediately available for sale or occupancy.
Related Terms
- Show Home: Another term for a Model Home, often used interchangeably.
- Speculative Home (Spec Home): Homes built with the hope that a buyer will be interested once the construction is complete.
FAQs
Why do builders create Model Homes?
Can I buy a Model Home?
Are Model Homes more expensive?
References
- National Association of Home Builders (NAHB) [Link]
- Real Estate Development Principles and Process by Mike E. Miles and Gayle Berens
- Home Staging That Works by Starr Osborne
Summary
A Model Home serves as an exemplary representation of a builder’s work, effectively functioning as a sales and marketing tool to demonstrate the potential of homes within a new development. By offering a tangible, furnished, and often upgraded example, builders can inspire and attract buyers, showcasing the full range of design and craftsmanship available in the homes they offer.
