When it comes to buying a new construction home, it is a little different that purchasing a home that was previously owned by someone else. It is important to be familiar with how this process works. Below you will find a few things to consider when buying a newly constructed home.
Negotiation options
Builders typically do not like to drop prices. This is so future buyers in the development don’t expect similar discounts. As an alternative, think about asking the builder to pay the closing costs or perform upgrades at no additional cost. They may be willing to include a fence, upgraded carpeting, or landscaping. This is a less obvious way for builders to make the deal more appealing.
Get it all in writing
Do not sign anything until every detail has been agreed upon and included in the contract. If you are going to purchase a home that hasn’t been completed, it is very important to detail how it will be finished. This includes what will happen if the home is not completed by a certain deadline. Everything must be put in writing and signed by all parties.
Changes will happen
“The fit and finish of the model home doesn’t necessarily represent what comes standard.” Rion (2014). The model home usually reflects a mix of standard materials and fixtures, along with many different upgrades. While taking a tour of the model home, be sure to find out which is which. You’ll want to know exactly what you’re getting, what’s available, and most importantly, what the cost will be. The price quote may not be the same as when you started.
Research the builder
It is important to do as much research on the builder as you can. Search the internet for any reviews and testimonials that you can find. Remember that many builders will have both positive and genitive reviews. When you find a builder you are happy with be sure to ask any questions you may have and make sure any concernes are addressed in the purchase agreement.
There are many differences between buying a new construction home and one that had a previous owner. Make sure that you are familiar with the process and know what to expect. A great place to start is to contact one of the outstanding Sales Associates at Coldwell Banker United, Realtors by going to www.cbunited.com.
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