Purchasing A New Construction Home
Purchasing a new construction home can be a daunting task. But with the help of a real estate expert in new construction, the process can be a breeze. As someone who bought and currently lives in a new construction home, I know what you will be going through. So I know the ins and outs as not only an agent, but as a homebuyer. And I can assure you that using an agent when purchasing a new construction home is a must. Not only will it save you money, time, stress and frustration, but it will also ensure that your best interests are protected throughout the process.
Why Use An Agent When Purchasing A New Construction Home?
One of the main reasons to use an agent when purchasing a new construction home is that the builder typically pays the agent’s commission. Most new home buyers are not aware of this. Many believe that they will save money by not using an agent, and that can be a costly mistake. Our commission is not taken out of the final price of the home, so there is no passed on savings to you. The only real winner in this situation is the builder. Additionally, some builders are not agent-friendly. If you initially register without an agent, you may not be able to bring one in later. If you’d like to read another article on the benefits of using a real estate agent for new construction, check this article out by better.com. It will also let you know how to do it alone if your still intent on not using an agent.
New Construction Contracts and Legal Representation
New construction contracts can be hundreds of pages long and often contain verbiage that favors the builder. As agents, have experience with many of these builder contracts. We will review them with you and will be able to inform you of all of your rights and responsibilities, and when it is appropriate to being in an attorney. Without an agent or attorney representation, you could inadvertently agree to some terrible terms.
Assistance with Financing and Custom Features
We also assist with negotiating custom features and upgrades. Real estate agents who work with builders have experience with the builder’s process and can negotiate on your behalf to ensure you get the best deal. We work with you to identify your wants and needs and present them to the builder. We also help you understand what upgrades will add value to your home and which ones may not be worth the investment.
Agents who work with builders also can reviewing your financing options, and help you navigate their incentive programs. The process of financing new construction can also be tricky. As most homes take 10 months or longer to complete, many mortgage lenders typically cannot lock in interest rates for longer than 90 days. Real estate agents can provide recommendations to lenders who commonly work with builders and have special programs when purchasing a new construction home.
Local Area Knowledge
Real estate agents should also be familiar with the local scene, building materials, and other homebuilders in the area. Because of this we are an invaluable asset in negotiations and decision-making with new construction builders. We’ll assist you in scrutinizing soil surveys, blueprints, and floor plans, providing expert guidance to help you make informed choices. We’ll also let you know if those fancy granite countertops are priced too high, or if there are other nearby builders with better financial deals. As experienced agents, we know precisely what builders can and can’t request. We also have a solid grasp of construction timelines to guarantee everything flows seamlessly.
In conclusion, when purchasing a new construction home, it is wise to use an expert in new construction real estate such as us. We will save you money, time, stress, and frustration and ensure that your best interests are protected throughout the process. Don’t go it alone, let a professional guide you through the process and make your new home purchase a success. Give us a call or email today.