what to know beforehand
By Jennifer Shannon, Broker
Buying from a builder can be an incredibly fun experience. You get to be the first person living in your home. You get the benefits of everything being new, and if you build your home from the start, you get to make the selections so it fits your wants and needs.
I've been on multiple sides of this transaction. I've represented the builder, I've represented buyers who purchase from a builder, and I've represented myself as a buyer for a new construction home. This unique perspective has given me a lot of insight into each side of the deal and allows me to speak to the different angles and motivations of the different parties.
Here are some things to keep in mind as you prepare to start visiting model homes of builders:
1. Builders Will Negotiate on Price
One of the biggest things buyer's don't realize is that builders will negotiate on price. That's right! The price you see is not the price you have to pay. Granted, if you are in a hot market where houses are selling before even getting listed, this won't likely apply, but in most markets, builders are willing to negotiate on their pricing. Have your Realtor® check the recent sales in the neighborhood will help you when it's time to negotiate on price. Don't have any recent sales (or comps) to compare to? Then just ask!
Negotiating Points with Builders
I've been on multiple sides of this transaction. I've represented the builder, I've represented buyers who purchase from a builder, and I've represented myself as a buyer for a new construction home. This unique perspective has given me a lot of insight into each side of the deal and allows me to speak to the different angles and motivations of the different parties.
Here are some things to keep in mind as you prepare to start visiting model homes of builders:
1. Builders Will Negotiate on Price
One of the biggest things buyer's don't realize is that builders will negotiate on price. That's right! The price you see is not the price you have to pay. Granted, if you are in a hot market where houses are selling before even getting listed, this won't likely apply, but in most markets, builders are willing to negotiate on their pricing. Have your Realtor® check the recent sales in the neighborhood will help you when it's time to negotiate on price. Don't have any recent sales (or comps) to compare to? Then just ask!
Negotiating Points with Builders
- Incentives - Most builders offer design center incentives. Generally they mark up the price of the incentives anywhere from
