No. 1: Buyer Advocacy
Some buyers believe you don’t need a Realtor when buying new construction. Avoiding a Realtor can be a costly mistake. A Realtor can help you save money!
When buyers don’t work with a Realtor, they are letting the builder’s agent represent them. The builder’s representative is there to work in the best interest of the builder. Which means buyers are not their top priority. A Realtor can advocate and stand up for their client throughout the entire transaction. They also know the right questions to ask.
No. 2: Builder Prices
Builders hate to reduce their advertised prices. If they do, it sets precedence for future home sales. Builders are almost always more likely to pay for closing costs or offer upgrade incentives than to drop their prices.
Builders make decisions based on what is best for their bottom line. As new construction costs are rising, builders advertise the “base” price of their homes without upgrades. An Agent can negotiate customizations, upgraded appliance packages and more!
No. 4 What You See Is What You Get (MYTH)
Often the model home is a high-end version of the standard home. It is the builder’s showcase home and a way for the builder to show off many of the nicer upgrades it can offer. The builder hopes a buyer will like these upgrades and ultimately add them to the purchase of their home. Builders have a good profit margin for the expensive upgrades.
When touring the model home, find out exactly what options are standard, what options are available, and, of course, what any additional options will cost.
Each builder will have their own set of standard items that come with a house. A standard item for one builder might be an upgrade for another. An Agent will ensure all the details are in writing.
No. 5 Complicated Contracts
The majority of builders will have lengthy, attorney-written, intimidating-looking purchase agreements that cover all the pertinent details of the new-home purchase. An Agent will read through and make sure you are familiar with the purchase agreement.
When it comes to buying new construction, there are a lot of benefits that come with working with an experienced real estate agent. Don’t go at it alone. A skilled Realtor is a professional working on your behalf with fiduciary duties. They can save you time, money and stress.
Are you looking to purchase or tour a new construction home? Let one of Fresh Start Realtys skilled professionals guide you through the home buying process. Remember, we make it easy. You make it home!