What is included in the sale?
All landscaping, window furnishings, floor coverings, appliances and light fittings are included with the handover of the home. Styling pieces and furniture are generally not included. If there is anything in the home you are unsure about, ask our team during and we will confirm what is and is not included in handover.
Can I change anything before handover?
You cannot change anything about the display home before handover. Display homes are sold as they stand. The design, the finishes, the fixtures and the landscaping are already complete, which is part of what makes the purchase straightforward. There are no selections to make, no variations to price and no decisions left open. If you would prefer to shape a home to your own brief, a new build or a knockdown rebuild is the better path.
What condition is the home in after being open to the public?
Display homes are maintained to a presentation standard for as long as they are open, because they are working showrooms. Before the home is handed over, Glenvill makes good throughout. Where a sales office has been fitted, it is removed and the space is converted back to a garage. All internal and external components are brought to presentation standard and the landscaping is refreshed and well presented.
Do I have to lease the home back, or can I move in straight away?
Homes are often bought with a leaseback in place so Glenvill can continue to operate it as a display. In an estate the lease runs for the life of the display village. For some displays it runs for an agreed term. This means you take ownership at settlement and move in at the end of the lease rather than straight away. Talk to our team for more information.
What happens at the end of the leaseback term?
The home returns to you at the end of the lease. From there it is yours to use as you choose. You can move in, lease it privately or sell. Lease agreements usually run for a set period with options to extend by further periods. The agreement sets out the notice we give before the term ends and that notice period can be settled by negotiation. Our team can walk you through the term and the extension options home before you sign.
Who maintains the home during the lease?
Glenvill maintains the home and the landscaping for the duration of the lease. The home is being used as a display, so keeping it well presented is our responsibility and it means the home is handed back to you in excellent condition. We also cover the outgoings during the lease, with land tax and insurance remaining the owner’s costs. What sits with each party can vary a little by agreement, so our team will confirm the position on this home.
Can I visit the home while it is leased back?
The home is open to the public during display hours, so you are welcome to walk through it as any visitor would. Access outside display hours is not part of the standard arrangement, though an end-of-lease inspection can be arranged before the home is handed back to you.
Can I finance a display home purchase the same way as any other home?
A completed home is generally more straightforward to finance than a home yet to be built, because there is no progress payment schedule and the property can be valued as it stands. Lending terms differ where a leaseback applies, so speak to your lender or broker early about how the lease is treated. We are not licensed to give financial advice and this is not a recommendation, so please take your own.
How does buying a display home compare with building new?
The trade is certainty against choice. Buying a display home means a known price, a finished home, a settlement date rather than a build program and no selection process. Building means the design, the finishes and the site are yours to shape from the start. Buyers who want a specific outcome on a specific block usually build. Buyers who have found a finished home they like usually buy it.
What should I weigh up before buying a display home?
The same things you would weigh up with any property purchase, plus a few specific ones: the length of the lease and when you can take possession, what the return is calculated on, what settles with the home, the condition of the home at handover and how the location suits your plans over the term. Our team can walk you through each of these and we would expect you to take your own legal and financial advice before you sign.
Are more display homes coming up for sale?
Display homes are released at different stages across our Victorian estates, so availability changes through the year. Speak to one of our team members about homes coming up or arrange a viewing of the home currently available.
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