New home construction has been a popular topic of conversation amongst buyers in our market as of late. Today I’m going to take you through everything you need to know about brand-new homes, including all the advantages (and disadvantages) of purchasing one if you’re in the market for a new home.
One of the things that happens a lot with new home construction is that a buyer will drive by a construction site, stop in the office, and see the models in person. However, there’s a problem that you’ll run into with this. In order to have representation as a buyer in this transaction, your agent will need to have procuring cause. This means that your agent must bring you to the property the first time to get you registered.
Why is it so important to have representation as a homebuyer in this situation? There are a lot of reasons, but one of the main ones includes having expert assistance in the negotiation process. We can use our expertise to gain a lot of knowledge about the builder, the incentives that they’ve been offering, and what their recent sales have gone for. This way, we can get you a much better deal than you’d be able to get on your own. That might come in the form of free upgrades, discounted closing costs, or a longer home warranty.
You will also need someone to help you through all the paperwork and all the little details. We can make recommendations along the way to help you get into the home. We will also make sure to fully inspect the house beforehand because even a brand-new house can have some problems with it.
Some of these builders will try to offer you cash or upgrades by working with their lender, but oftentimes this comes out of your pocket in the form of higher lender fees and whatnot.
If you are interested in buying a brand-new home, we’d love to have your back. If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.