By now, you’ve probably heard that Arizona, like other recovering states, is in short supply of new homes. While it’s true that inventory remains tight as builders push to keep up with rising consumer demand, plenty of options exist in the marketplace for people looking to purchase a new vs. a resale home.
One of those options is an inventory home. An inventory home, also known as a move-in-ready home, is one that already is complete or near completion. It draws its name from the fact that it occupies a spot in the builder or developer’s existing inventory, and as such, is available for immediate sale.
If you are eager to make a move, and have your sites set on new construction, an inventory home can be an attractive alternative for several reasons. Here are five benefits:
Enjoy it now
As the name implies, move-in-ready homes are ready when you are. There are no construction schedules and no delays — the home is waiting for you, rather than the other way around. Just situate your belongings and start living your new life.
Move-in ready homes often include builder upgrades that make them very appealing for new home buyers. Higher-end fixtures, cabinets and flooring are the most commonly included amenities, but options may vary by builder.
Opportunities to personalize
One of the most attractive aspects of purchasing a new home is the owner’s ability to imprint it with his or her own style. This opportunity also exists to a certain extent with inventory homes. While many of the finishes already are in place, buyers may still be able to customize the home to their liking.
Location, location, location
Inventory homes are located in many of the most desirable neighborhoods in the state. Not only is this a tremendous draw for home buyers, it also helps with resale value when the time comes to sell the home and move on.
Home builders are motivated to sell inventory homes for many reasons and in some cases may offer special incentives to help sweeten the pot. If this sounds like a good deal to you, you’re absolutely right!
• Andy Warren is president of Maracay Homes, the Arizona subsidiary of the Weyerhaeuser Real Estate Company. He serves on the board of directors for the Home Builders Association of Central Arizona and Greater Phoenix Leadership; as well as the board of directors and as an Executive Committee member with the Greater Phoenix Economic Council. He is also an active member of the Urban Land Institute.