We all love driving around and touring new model homes. Seeing all the latest bells and whistles. The free cookies. The professional decorating. It is a good way to kill a Sunday afternoon.
If you remember nothing else, remember this:
The on-site sales reps and listing agents work for the Builders; not for you! Don't tell them anything about your interest level that might hurt your negotiating position in the future. Be wary of giving them your contact information, unless you like getting sales calls during dinner.
Buying a new construction home actually has greater potential risks than buying an existing home. There are a multitude of decisions to be made and potential pit falls to be avoided. I can help you with any type of new construction and with every step of the decision-making and construction process...at no cost to you.
As your Exclusive Buyer Agent, expect me to get you the best possible deal and avoid problems...because I do it regularly and my references prove it.
I work with all area custom and production builders and developers. I can show you any lot for sale, or any home, at any stage of construction. Builders' sales contracts are very one-sided to their benefit. I can assist you with putting together a contract to build that gets you the best deal and the most protection. Builders and their sales reps actually prefer it if you are represented by your own Buyer's Agent. It removes some of the liability from their shoulders. You will pay less for your new construction home if you have a Buyer's Agent representing you -- not more.
Be Aware...
Many of the new construction "listings" you see on any web site are what we call "To-Be-Built" suggestions or "Proposed" homes by builders. That means the homes you see in these renderings do not exist and will not be built without a contract and deposit. They may also use photos from model homes. Many builders use MLS listings as a sales tool to get potential buyers to call them and "open houses' listed are just meant to get you to visit the sales office. Often the prices listed are base "teaser" prices. The final price for a home contracted for can sometimes end up as much as 15-20% higher for some builders, with a typical number of options and upgrades, plus lot premiums. If it sounds too good to be true... Contact me - I'll tell you if it is.
There are basically 4 ways to Buy a “New” Home:
Totally Custom: Allow 6 months to over a year for the entire planning and construction process. Generally the most expensive option. Starting with an architect or modified plans.
Semi-Custom: Allow 6 months to nearly a year. Using a custom builder and a ready plan.
Production: Allow 4 to 7 months. Picking from one of a few models from a national or regional builder.
Spec: “Specs” are houses built as an example; not customized for anyone specifically. They can be move-in ready, or weeks to months away from completion, when you contract for them.
Although there is high demand in this hot market, there is a shortage of good, build-able lots in the more desirable areas and popular school districts for either individual buyers or developers to buy. I can tell you about all new and proposed developments.
My Best Advice - Always:
"Buy neighborhood first and house second." Don't fall for a pretty model home in a undesirable location that won't appreciate.
I can answer all of your questions such as:
How big does the lot need to be for a pool?
Which builders' homes usually appreciate? Which almost never do?
Which subdivisions allow me to choose my own builder?
Can I buy the lot now and build in a few years?
Is it risky to build in a neighborhood that is just getting started?
How much money will I need to have to start building?
Which builders have the most complaints? The least?
Can I start building before my current home is sold?
What does “architectural approval” mean?
Can I make changes to the builder’s plans?
If it says "homes from the $200’s", what's the truth?
What does it mean when a listing says “To Be Built”?
Which options and upgrades should we buy from the builder?
Which upgrades should we do later?
Should we use the lender the production builder is promoting?
What are HOA fees used for?
Is it better to choose a neighborhood with more, or less, rules?
What features are important to include for future resale?
How much will property taxes be?
Is the builder's price negotiable?
Should I have a home inspection done on a new home?
When to buy to get the best deals?
Will I be able to sell for a profit if I get transferred in 2 years?
…and so many more.
I can take you to see all new construction homes and neighborhoods of interest.
