While buying a new construction home from a builder is similar to buying any other home on the market, there are subtle differences. In addition to finding a floorplan and neighborhood that suits your needs, you need to allow extra time. Depending on where you live, you will have to wait a while from the time you get an accepted offer to the day of closing for a typical sale. With new construction, however, you could be waiting up to even longer, especially due to supply chain constraints and building material shortages. That said, there are a few additional secrets that will help you when buying a home from a builder.
Use a real estate agent
While it can be easy to assume that you do not need a real estate agent for this transaction, it is better to bring your own than to work with the builder's agent on site. That person works for the builder and, while they are honest and held accountable by real estate ethics like any other agent, they do not have your best interests at heart. When you team up with a dedicated buyer's agent, it guarantees that you have someone on your team throughout the entire build process and, best of all, is free. The agent's commission is traditionally paid by the builder.
Another secret is that you can negotiate new homes for sale just like you do when making an offer on an existing home. Do not be afraid to negotiate on price, lot selection, and even freebies. Many builders are known to offer incentives to boost sales, especially during slow periods. A common incentive is the addition of free air conditioning installation during the summer months or free landscaping in the spring. The key is to ask for it.
Choose extras wisely
When you look at new construction, there are many extras that can drive up the base price of a home. Some extras are more valuable in the long run than others, however. Any upgrade that adds square footage to your home will add to your long-term resale value, like a breakfast nook bump-out in the kitchen or a six-foot garage extension that makes room for larger trucks and SUVs. Additionally, adding an extra bedroom, particularly to the first floor of the home, can bring an extra $10,000 or more when you decide to sell later.
Buying new homes for sale and working with a builder is not an overwhelming process. In fact, if you work with a real estate agent and choose your upgrades wisely, you will enjoy your home for years to come.
Welcome to a blog about the two C's. The two C's, as you might have already guessed are construction and contractors. These words are closely related. "Construction" refers to the art and science of building something. That something could be anything from a shed to a sidewalk. "Contractors" are the people who do the building. There are general contractors who do all sorts of building work, and then there are specialists who do work such as plumbing, electrical work, and drywall. Stop by and read a few articles when you have the time, and we promise you'll learn more about these two C's.