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Tips for buying new construction

May 22, 2009

So you read my article yesterday about the encouraging signs in new construction, and you’re thinking about building a home.  Now what?  Do you just walk in to the model home and see what happens? NO.

0023_miniature_model_home

Read on for some common misconceptions about new construction:

MYTH: Buying directly from the builder will be hassle-free- so I don’t need a Realtor.

FACT: While I’m sure builders do everything they can to make the process smooth, there are a lot of decisions to make and scenarios to consider when you walk through the model.  Having a Realtor walk with you, someone who knows the lingo and can decipher the jargon, the contract language and even help you weigh the value of those upgrades, can be very beneficial.

MYTH: I’ll save money if I don’t use a Realtor.

FACT:  In most cases the Realtor is paid through the sellers fee.  In the case of new construction. the builder has already anticipated that fee.  So if you walk-in without a Realtor, you are essentially paying for a service you aren’t getting the benefit of.  Why do that to yourself?  Take advantage of the knowledge and experience of a Realtor.

MYTH: The sales agent at the model home works for me

FACT: While the sales agent may be very nice and friendly, they work for the builder.  And their job is to get the most profit on the homes they sell.  You need to have a Realtor working for you and who has your best interests at heart. 

MYTH: The price of the home is the price of the home

FACT: Most model homes are chalk full of beautiful upgrades.  The price you are being quoted may be the base price- before all those upgrades you’ve fallen in love with.  Be sure and find out what is included in the price and what is extra.  A Realtor can help you make smart decisions to add value to your home in the long run.  Also, right now many builder are wiling to add a few upgrades, say finish a basement or add hardwood floors.  It never hurts to ask.  One of the most important jobs a Realtor has is as a negotiator, put that to good use.

Bottom line: Having an experience Realtor, like myself, help you with your new construction purchase can save you both time and money.  They can make the entire process from start to finish much smoother.

**It seems this whole week I’ve been discussing new construction with multiple clients of mine- they’re hooked and so am I.  I’m participating on Hooked on Fridays blog party, so head over there to see what everyone else is hooked on.**

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