Purchasing new construction
When exploring newer neighborhoods looking for new construction, having the right Realtor® on your team can be the difference between a good home buying experience and a bad one. Precious Realty & Mortgage is here to help you navigate the myriad of new homes today to locate one that's perfect for you.
In real estate, negotiation is always an option. However, with new construction, it depends on the developer and the length of time that the home has been available. Developers in new additions don't like taking lower than their asking price because homeowners already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and what the market is doing at that point in time, a developer will often allow a few concessions.
For example, if a home has been on the market a while and the builder is deeply invested, then you have some room. The same goes for show or model homes that have been sitting for a while. However, if a home was just completed, don't count on being able to get a deal.
You can always ask for assistance in other ways when purchasing new construction. For example, closing costs are one way for you to save without lowering the price of the house. The same goes for amenities - ask for things such as an allowance for window treatments, a garage door opener, a sprinkler system or landscaping, or an extended home warranty.That can go the other way around, too. If upgrades are already in the plan, see if you can get the builder to omit them - you might be able to install them later yourself at a savings anyway.
While you should always negotiate a home warranty so problems can be fixed, get a home inspection before your purchase regardless. Inevitable problems can be repaired (by the builder) before you move in and larger issues identified before it's too late. Since an inspection is relatively inexpensive, some new home buyers get an inspection after being in the home for 10 or 11 months - that way, the builder can make the repairs before a 1 year warranty expires.
At Precious Realty & Mortgage, We'll make it our #1 priority to find you a new home that meets your needs and fits within your budget. Give us a call at (713) 988-1425 to begin the search for your new home today.