Are Builder Model Leasebacks a Good Investment?
Buying a Model Leaseback could buy you time to get your retirement in order and get you into your desired home community.
Production builders in new home communities will often build one or more models to showcase their homes, the upgrades available and dazzle those who are shopping for a new home. Before the market crash in 2008, builders had open lines of credit with their bank and built one of each Model in impressive model courts. That practice ended as the housing market experienced a much longer slump than anticipated. As the market recovered, we were lucky to see one model, often the most popular or the most profitable, in each community.
Things have improved steadily over the past 8 or 9 years and some communities have two or even three model homes. It has become standard practice now to build them and sell them as “Model leasebacks”. Is this a good investment?
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