Most people wouldn't commit to buying a pair of shoes without trying them on, or at least seeing them. So, how does anyone make one of the biggest purchases in their lives before it even exists physically? The Cottages at Hollybrook, part of the development at SouthField in South Weymouth, will break ground next month, but according to Paul Abelite, co-principal at Interactive Building Group, which is one of four residential construction companies developing the old naval air base, Hollybrook is 75 percent sold, with purchase and sale agreements signed. Yet homeowners can't move in until early 2013.
"There is a pent-up demand: These are experienced homebuyers, they are educated," says Abelite. "And these are easy homes to sell. These are not tract homes. They have good architectural detail, and people can see it is a good product."
Just as the buyer is committed via the purchase and sale agreement, IBG adheres to its agreed design guidelines so that what the customers saw on paper is what they get. Also, buyers' money sits safely in escrow.
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"It's not working capital," says Abelite. "People wouldn't be as eager to buy if that were the case. They know their money's safe in case of any default."
Besides being able to plan a move at an easy pace, buying in early at this ongoing development means a good deal, price-wise.
"These are aggressively priced. The payoff for being among the first homeowners is that the price makes these a good investment," says Abelite. "Especially if the housing market continues to prosper as it has this year."
The Cottages at Hollybrook, SouthField in South Weymouth
These 1,400-square-foot homes have two beds, two and a half baths and two master suites on each floor. The 31 homes are part of IBG’s cottage series, boasting three styles — Beechwood, Woodbury and Sandalwood, each with traditional New England vibes.
Listing price: $320,000-$370,000
Listing agent: IBG Real Estate