Can you imagine living in a house constructed only for you? It is very exciting living in a place where you can literally choose all the details from day one. Any homebuyer with any budget can find a new home for sale. How can you know if a new house is for you? This is what we’re going over in this article today. Here are 5 topics you should take into account if you are buying a brand new home.
1. Knowing where to look for these houses
New constructions are not usually listed in real estate services. What happens is that the builders have their own people to sell the house to have more control over the selling process and cut costs. When you’re looking for this type of construction, you should ask your agent to look in certain places, like advertisements online, in newspapers, or billboards.
2. New homes are often sold before built
Generally, builders are going to try to sell as many houses as possible before they start to build. They get financing, map out the site, and start the sales process altogether. They have a model house that the buyers can visit and sell the properties based on the floor plans. You, as the buyer, can usually review some floor plans, fixtures, and finishes. The good part is that, depending on the builder, you can add your personal style in this phase of the construction.
Be aware that the real estate market can change, so if a project in some area was sold for a price and now in the second or third phase is 10% more, that is super normal. It is just the market accepting the quality of the project.
3. First-time homebuyers may get a discount
First-time buyers can get the best discounts, because the builders want to offer the project to other buyers saying they already have people interested under contract. This makes the properties desirable. This is the time to negotiate the price down and benefit from the project as well. However, if the sales don’t manifest or if you decide you don’t want the house before it is built, you may lose the down payment.
4.No space for personal attachments
Builders don’t have personal feelings for the projects. They are just doing business. On the other hand, when you buy a house from a seller, you may notice these sentiments. Some sellers have raised families in the houses and have put some sentimental value on the property.
5. Negotiate upgrades
If the project is at the end of the sales cycle, you may not get a discount in the price, but you can try to negotiate upgrades in the house, like hardwood flooring instead of carpet, trimming, or high-end appliances. This is a very common negotiation between the buyers and builders.
This is the information you need to know if a new construction home is for you. Always try to negotiate, and search for what is in your budget.
