Contrary to popular opinion, buying a new home without a REALTOR® to represent you will not save you money. More likely, it will cost you money. Quality builders expect to work with a REALTOR® and rarely, if ever, reduce the sale price if you deal directly with them. Builders are very cooperative with real estate agents and actually seek out the assistance of the REALTOR® community to help market their subdivisions.
Here are a few important points to keep in mind when looking for new construction:
1. Most buyers do not realize that the new home sales person represents the builder, never the buyer. You need someone to protect your interests in such a complex transaction. You are better served by retaining a buyers agent to exclusively represent you.
Note: When you first begin looking at homes and areas, you may want to "cruise" the new homes that are being built. Be very careful! In order to have "buyer representation," you should never register or sign in at a model unless you specifically list your real estate agent's name and company. Tell them you will return with your buyers agent if you decide to pursue a purchase.
2. Most builders offer "allowances" for various options like kitchens, appliances, flooring, etc. that can drastically impact the final price of a home. We can help you determine whether the allowances are reasonable and what upgrade options will add value to your home.
3. We can also perform a market analysis of each neighborhood to help you determine the most appropriate sales price for any particular model and the neighborhood with the best long-term resale value.
4. There are many complexities in new construction, such as inspections, disclosures, deadline dates, lien waivers, loan procedures, cost overruns and construction financing. We can help you anticipate each step and provide advice on how to resolve any complications.
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