We at ICI Homes are back with another installment in our occasional series that helps customers understand terminology involved in new residential construction and real estate.
Answer: a left-handed pitcher.
The term “leaseback” can’t be dissected in four words, but if you’re a prospective ICI Homes customer who thinks one of our smartly designed and decorated model homes might be right for you, you’ll want to know what it means.
We explain this home-buying lingo below.
Key Takeaways
-
A leaseback lets you purchase a model home and lease it back to ICI Homes while it’s still in use as a sales center — we cover the mortgage, utilities, and insurance during the lease term.
-
Model homes are highly upgraded and professionally designed, making them turnkey options for buyers who want style and function from day one.
-
Leasebacks are ideal for buyers with flexible move-in timelines who want a unique, showcase-level home in a sought-after community.
-
Whether you buy the model or build your own, ICI Homes offers smart, stylish living options across Florida’s top master-planned communities.
About model homes
They show prospective buyers what floor plans look like in real life.
If a master-planned community that piques your interest is being developed by ICI Homes, we’ll typically feature a “model row” that showcases multiple styles and sizes of floor plans chosen for that specific community. One model includes the sales center.
In master-planned communities where we’re preferred builders, we’ll usually offer one or two models for neighborhoods where we’re active. Either way, you can preview our work in real life (or online at our website).
Not only are model homes fun to explore online and in person, they’re a valuable source of ideas. ICI Homes models are built with numerous upgraded features so prospective customers can see how those would look.
Outside, each model appears in a different elevation (a home’s exterior appearance), with varied outdoor living spaces. Every ICI Homes floor plan comes with a covered lanai and models display summer kitchens, lounging spaces, pools and more.
Inside, contrasting interior designs also preview different possibilities. Indoors and outdoors, these different designs help customers decide which ones (or a mix) might work for them.
And, they often do! Which brings us to…
Model homes are for sale too
While built as display showcases, models are sold like every floor plan in an ICI Homes master-planned community, or in one where we’re a preferred builder.
Some sell very quickly after a community opens, while others sell nearer closeout.
But if you spot a model home that’s perfect for your new custom Florida home, in a community and town that you love, don’t delay. These are unicorns and you have two choices:
Build one exactly like it, or buy the model.
Buy one via leaseback
Here’s how: buy the model, then lease it back to ICI Homes for continued use over a specific duration. ICI Homes pays the mortgage (if applicable), utilities and insurance, and you assume those costs once it becomes your residence.
The arrangement also includes terms of cleanup and renovation for turning the sales center into a real garage, for example.
A leaseback requires patience. You won’t move immediately. But it’s a great option for customers who want a beautifully designed home from the start.
Ready for your new custom Florida home? Talk to ICI Homes here.