There are so many options when it comes to new builds that it can make your head spin. You might not know it, but you can bring your real estate agent with you to new builds. Many people have the misconception that bringing in an agent will increase the price of the home, but actually, you will be more likely to have someone get you a better deal.
The agent that shows you the new build home is not on your side. In fact, they represent the builder and the builder’s interest. Therefore, they are trying to get the highest price for the builder, not the lowest price for you!
If you already have an agent, make sure that they accompany you to the first time you go to the new build. If you just happen to stop by a new home and you register but don’t call your agent, they won’t be paid for representing you. Many builders require a registration when you enter and keep that registration information for 90 days or months.
With the market heating up, expect the new build homes to go quickly and for asking price. However, there are some ways to get some deals.
- If you use the builder’s lender, you may be able to get upgrades and incentives. Just take a good look at the lending terms, as you might not be getting the lowest interest rate or best terms. Those “incentives” may not be as lucrative as they seem, but do your research when looking at terms
- Buying a model home or quick move in home. Often these homes are ready to go and have higher upgrades. They are not brand spanking new, but have been toured in for quite some time. Often they are on corner lots or have upgraded amenities. Make sure you get a good builder’s warranty on them as well.
- Make sure you check out different neighborhoods and builders options. Location has a lot to do with price.