So, you have decided that a newly built home is the way to go…that is exciting! A home no one else has ever lived in and you can’t wait to sign the contract……… Well, I’m here to tell you New construction is not flawless! ……. when you walk into the builder’s beautiful model and design center, trust me……. you will forget you are not represented, you will be spellbound about having a new home. Have you thought of what it might cost you if you don’t have someone looking out for your best interests? I am going to give you 5 reasons you need to be represented when buying new construction, you will be surprised at what you will learn and it starts right now.
1. Your Realtor knows about the area and can help you in comparing this new construction to others or to resales.
They will tell you the pros and cons and give you facts to base your decision and help you not just to look at the glitz and glam. This is so important as there may be other choices for you to make a great decision on your next home. Just so you know……….. the commission dollars are built into their price, so why not be represented.
2. Your Realtor knows how to negotiate for you.
A builder will never lower the price of the home, they keep the community stable with home prices………….. but, what can be negotiated are extras, such as upgraded counter tops or appliances, paint colors and credits towards the many different upgrades, especially…………. if the housing development is in the beginning stages. Should a problem arise, you have someone in your corner to assist you.
3. Your Realtor can recommend Financing.
A builder will have a preferred lender, but your Realtor can help make sure that you’re getting the mortgage that works best for your situation. Ultimately you may use their lender because many times they offer incentives to stay within their network of vendors. That’s not bad, but you want to know your options.
Let me tell you about one of my buyers who actually is a friend of mine. They called me to ask do they really need me to help them in purchasing a new home. I told them, when your sale is done I want you to answer that for yourself. As we progressed through the sale, I was able to negotiate extras, and the most important factor was the call I received from the builder days before closing. The house didn’t appraise and they told me my buyer would need to bring $20,000 extra to closing. I had to call my buyers and Once I peeled them off the ceiling, I proceeded to tell them I had negotiated more credits and extras which more than compensated for the difference in the appraised value of $20,000. Oh yes, their neighbor closed on their home the same day and when they got to know each other the neighbor did not have representation and they had the same issue with the appraisal and received no other form of extras or compensation. To this day my buyer tells everyone to take their Realtor to new construction.
4. Your Realtor will Oversee the home inspection.
Yes, even new homes need inspections, Just because it’s new doesn’t mean it’s perfect. Your builder’s agent will say, oh once you move in you will have so many days to get things repaired and give us your punch list. Don’t fall into that trap. Your Realtor will help you schedule an inspector who essentially provides a punch list you can give to the builder after that inspection. They will find items you wouldn’t even be aware of
5. Your Realtor will be there at closing.
Your Realtor will accompany you to the closing table to make sure there are no surprises and coordinate closing details leaving you to make your moving arrangements to that new home.
Everyone wants peace of mind when purchasing a home whether it’s new construction or a resale, it’s stressful and so much to think about. Having a Realtor in your corner will help keep you grounded and make sure everything goes according to plan. In the end, you will find a Realtor will bring you more benefits than you ever imagined. Now let’s go to this next video on another new construction development that you may like, until then happy house hunting.
