October 25, 2019
Why this 50 year old AV Jennings display home achieved a huge sale price

You might not have ever considered buying a display home, but our recent sale underscores the very real benefits it offers. While the property was over 50 years old, it still managed to achieve a massive sales result for the area – and produced a very happy vendor in the process!

The case study

 

The featured property is located at 1 Lanoma Crt in Wheelers Hill. It was originally an AV Jennings display home, and was purchased some 50 years ago by the owner directly from the company.

After enjoying many happy years in the home, the original owner’s family recently decided it was time to move on. We had the pleasure of overseeing their sales campaign, and were extremely pleased with the outcome. In fact, we couldn’t find a better result in the immediate area when comparing houses of the same vintage.

As for the numbers, the property was passed in at auction for $956,000. It then SOLD later to a local buyer for $1,050,000, who purchased the home for their children.

The merits of buying a display home

We can’t help but wonder – did the Lanoma Crt property achieve such a high result precisely because it was an ex-display home? When you consider the following benefits of a display home, it could very well be the case.

  1. Premium fittings and fixtures
    When building a display home, it’s in the builder’s interest to show off their best work. As such, they often pick the most impressive home in their range – one with a great floorplan and expansive rooms. They’re also careful to fit it out with premium fittings and fixtures; options you may not be able to stretch your budget to if you choose to build your own.
  2. Prime Location
    Display homes are usually built in close proximity to infrastructure such as shops, schools and freeways. If the home is positioned within a display village, it’s likely to be in a beautifully presented street surrounded by other ex-display homes that were also finished to a premium standard.
  3. Leaseback rental return
    A lesser known fact is that you can earn great money from a display property via a leaseback rental. Builders often sell their display homes on the condition they rent them back from the new owner for a specified time, while they’re still building homes in the area.

If you’re not in a rush to move in, this could be a good investment option. It’s particularly enticing when you consider display homes usually fetch a higher-than-average rental return.

We can help

Whether you’re in the market for a new home (ex-display or not), or are thinking about selling your property, we would love the opportunity to share our expertise in the area.

You might also enjoy hearing what our past clients think of selling with WIN Real Estate. If you like what you hear, feel free to get in touch.