If you’re in the market to purchase a new build here are a few ways to save yourself thousands of dollars. There are a lot of myths around purchasing a new build and making sure you are with a knowledgeable real estate professional will ensure you save as much money as possible!
Never visit a new build community without your realtor
Most buyers aren’t aware that if they walk into a new build community without a realtor THE FIRST TIME – they automatically forfeit the option to be represented. This poses a disadvantage to Buyers because as a professional real estate agent, we know what kinds of deep discount incentives new build communities are offering – and they don’t offer them to everyone that walks in the door – especially unrepresented Buyers!!!
Pricing is negotiable
New build communities do have to keep their overall community value; however, there are many negotiable items depending on the builder. Additional credits, upgrades and lot discounts. Every builder is different, and depending on the phase they are in and the standing inventory they have means there’s room for negotiating.
Know the costs of a new build
New communities are great because they are fresh and new. What a lot of Buyers aren’t aware of are the Mello Roos and additional taxes for added infrastructure and amenities to communities. It’s important to learn all of this information up front before getting in contract.
You can use whatever lender you choose
Buyers think that they have to use the lender the builder recommends. Sometimes they even offer incentives to use their lender. It’s important to get a few different loan estimates to see what kinds of costs and rates are available. It could save you thousands of dollars.
You can hire a home inspector
Even new builds can have problems. If you elect to, you can hire your own home inspector to check the home. New builds come with warranties on their work for a certain timeframe, so you’re protected, but if you feel you want a home inspector to look at the property, you may do so.
Attend your walk throughs + take photos
The awesome thing about purchasing a new build is that you actually get to see inside the walls. I always suggest taking photos and video while construction is in progress so you know where studs, plumbing and the like are located.
These are just a few tips to purchasing a new build. We’d love to help you on your home buying journey, especially if you’re purchasing a new build. Contact us today to get the process started!