Having worked in the model of a new homes builder in various communities, I have a unique insight into the home building process, and what the rewards and dangers are in building a new home. Depending on the market and your needs, building a new home can be one of the best decisions you’ll ever make, or it can be one of the worst. I can provide you with valuable insight into the new construction industry, help you find the perfect home quickly, and then provide you with expertise in contract writing, negotiation, and closing.
The builder has a professional real estate representative to watch out for his best interests, and you deserve the same expert representation watching out for yours. You won’t find another REALTOR® who is more qualified or who enjoys building process more than myself.
These are just some of the consideration we’ll evaluate together – remember, always think about resale when buying a new home:
• Lot selection. Premium lots typically won’t bring a great return when it comes time to sell so choose with caution.
• Floor plan selection. Consider what direction trends are going with items such as formal vs. informal dining area, main level bedrooms, etc. If something is “on the way out” when you’re building, it will be considered archaic by the time you sell 5 years from now.
• Selecting upgrades that bring a good return, or that would be cost prohibitive to add later. Choose upgrades wisely. You may be surprised to find out how builders calculate upgrade costs – you can often perform the same upgrade after closing for a similar price, if not less.
• What about the developer’s reputation? Did they follow through on their last community with parks and amenities they promised? A good developer can make an appreciable impact on the value of your home over the long term.
• How does the size and price of your potential home fit into the neighborhood? You want to make sure the neighborhood will support or pull up the value of your home. You don’t want the house that helps everyone else on their appraisal.
What about building a custom home?
Having proper representation is very important when you are entering into a contract for a custom or semi-custom home. These transactions are complex and contract details must carefully reviewed for your protection.
Are there any advantages to not using an agent to purchase a new home?
There is no financial advantage for you to buy directly from the builder. Just like resale, the seller pays your agent’s fee. Builders have a “single price” policy, meaning that you will be charged the same price whether your interests are represented by an agent or not. (Additionally, if a builder were to discount prices for unrepresented buyer’s, it artificially devalues the neighborhood and hurts the builder’s overall investment.)