New Home Construction
Are you looking to purchase a new construction home? Here are some tips, tricks, and things to keep in mind as you start to plan your move on our First Time Home Buyer Podcast.
Why Work with a Real Estate Agent for Your New Construction Home?
As a new home specialist, I’ve seen firsthand the many benefits of working with a real estate agent when buying a new construction home. Let me share some insights from my experience to help you understand why this partnership can be so valuable.
Established Relationships and Insider Knowledge
Over the years, I’ve built strong relationships with builders in our area. This insider status often allows me to:
- Negotiate better prices and terms for my clients
- Get priority notifications about new developments
- Access information about upcoming phase releases or price changes
These advantages can give you a competitive edge in the market and potentially save you money on your dream home.
Guidance Throughout the Entire Process
Buying a new construction home involves unique challenges. As your agent, I’ll be there to guide you every step of the way:
- Helping you choose the right builder and floor plan
- Navigating the design studio selections
- Understanding required additions (like solar panels in certain states)
- Managing financing, addendums, and the final walk-through
My experience with various builders means I know what to expect and can anticipate potential issues before they arise.
Protecting Your Interests
Did you know you should have an independent third-party inspector at various stages of your home build? As your agent, I’ll ensure you’re protected throughout the entire process. I can help you avoid common pitfalls such as:
- Delays in the build schedule
- Appraisal and inspection issues
- Incorrect work or installation
- Unfinished work at move-in time
- Problems with the builder’s warranty
- Lender-related issues due to longer timelines
Real-Life Success Stories
I recently helped a client who had invested significantly in upgrades but was using an FHA loan with only 3.5% down. The upgrades didn’t increase the home’s value proportionately, which could have led to appraisal issues. Through negotiation with the builder’s corporate office, we ensured the client didn’t have to pay the difference between the negotiated sale price and the lower appraised value.
Without an agent advocating for you, these situations often resolve in the builder’s favor rather than the buyer’s.
Lender Considerations
While you’re not required to use the builder’s lender, it can come with benefits like priority processing and higher closing cost credits. However, I can also help you explore other lenders who might offer:
- More loan options
- Competitive rates
- Better down payment assistance programs
- More personalized service
For clients making larger down payments, the incentives offered by builders may not outweigh the benefits of working with a trusted lender.
Your Partner in the Journey
As your new home specialist, I’m here to take the stress out of buying a new construction home. With my expertise and the backing of my brokerage, you can focus on the excitement of your new home while I handle the details.
If you have any questions about new construction homes or would like to explore your options, I’m here to help. Let’s work together to find your perfect new home!