Here’s what you should know about new construction—especially if you want to get a great deal.
Today I’ll be going over five things you should know about new construction:
1. New construction is not always in the MLS. You often need someone who knows local builders and the area itself. This way, you can get access to all the options available.
2. New homes are often already purchased. There are some builders that have inventory houses you can move into, but it usually takes about four to six months.
3. Builders are willing to negotiate. New developments want to start construction on new homes quickly, so there’s definitely some room to negotiate. Don’t be afraid to be aggressive—ask for upgrades, discounts, closing costs, and more. Builders want to get their neighborhoods started, so you have some leverage.
4. Builders don’t have personal ties to the properties. They have a margin they have to make, but you don’t have to worry about a seller’s emotions getting in the way of the process. Builders just want to make a sale.
5. You have to use a team of aggressive agents. We see a lot of people leave money on the table because they simply don’t know how to negotiate a new construction purchase. Even if they feel like they are negotiating, the final terms and conditions don’t match what they can actually get.
Again, it’s important to use the guidance of an experienced real estate agent when dealing with new construction homes. We’d be more than happy to help you if you’re looking to get the best deal on a new home. If you have any questions or would like more information, feel free to reach out to us. We look forward to hearing from you soon.