What is an Inventory Home?

Jun 21, 2023

Categories: Blog

When it comes to purchasing a new home, there are various options available in the market. One of those options is an inventory home, also known as a move-in ready home, quick move-in, or a showcase home. If you're in the market for a new home and desire a shorter build timeframe with pre-selected options, an inventory home might be the perfect solution for you. In this blog, we will help you better understand what an inventory home is and the advantages of building one to help you identify if it's the right choice for you!

But first, what is an inventory home? 

An inventory home is a type of production-built home that has already been started by a builder. However, since the building process has already started, these homes are built on a pre-determined plan and layout on a specific homesite. 

Advantages of Buying an Inventory Home

1. Shorter build timeframe

One of the most significant advantages of purchasing an inventory home is the reduced construction time. Since the home is already under construction, buyers can enjoy a much shorter build timeframe compared to starting from scratch. This is ideal for individuals who are looking to move into their new home quickly or have time constraints. 

2. Pre-selected options

Inventory homes often come with many of the options and upgrades already selected by the builder. These can include features such as flooring, cabinets, countertops, and appliances. The advantage here is that buyers can visualize the finished product and have a clear understanding of what they are getting, saving them the time and effort required in the selection process. 

3. Locking in a rate quicker

Another benefit of purchasing an inventory home is the ability to lock in a mortgage interest rate sooner. Traditional construction projects are subject to market fluctuations due to the timeframe to build a home from the ground up, which can in turn impact mortgage rates. With an inventory home, buyers can take advantage of current interest rates and secure their financing quicker in the process as the building process has already started, or in many instances, is complete. You can also take advantage of a temporary rate buydown to further reduce your monthly mortgage payment on your inventory home! 

4. Visually assessing the property

Unlike purchasing a home based on a floorplan or 3D renderings, inventory homes will often provide buyers with the opportunity to physically walk through the property. This allows potential buyers to assess the layout, room sizes, natural lighting, and overall feel of the home. It also enables them to determine if the property suits their specific needs and preferences. 

For homebuyers seeking a streamlined process and a quicker move-in timeline, an inventory home can be an excellent choice. With many of the options pre-selected and construction already underway, buyers can enjoy the benefits of a shorter build timeframe and lock in their mortgage rate sooner. Moreover, the ability to visually inspect the property before making a purchase decision adds peace of mind. If you're looking for a convenient and efficient way to become a homeowner, consider exploring the inventory homes we have available in your area by clicking here!