Managing New Construction Costs with a Realtor
Buying new construction can get pretty expensive and in a hurry. Builders advertise their base price of their basic floor plan and each community offers their own “Standard Features”. The models you see often have upgrades galore, showing off their more expensive options. Realtors with new construction experience will know what the upgrades are, and have an idea of the cost.
One of the benefits to buying new construction is the ability to make it your own. With the customization of a home comes an increase in the price. A good reason to use a Realtor when buying new construction is their ability to negotiate on your behalf. In a healthy market, builders are more inclined to negotiate options, where they have high margins, rather than the sales price. An experienced new construction agent knows where the margins are greatest and has strategies to help you get more for less.
Costs your Realtor should prepare you for are lot premiums, community fees, capital contributions, and estimated taxes to get the full picture of what the total costs will be.
Design Center Options
Most designers in the design center are paid commission on the options you choose. With 3-6 hour appointments with the design sales representative, every knob and faucet will help their paycheck. If you’re on a budget, your Realtor can help you select great finishes for future resale and stay on budget.
Once you leave the design center, the base price of the house + lot premium + design options, most appraise once its complete if you’re financing the home. Your Realtor will keep comparable homes in mind so that you don’t over-improve and end up with a house you can’t resell.
Buying an Inventory Home
Buying a new inventory home has its advantages and opportunity to negotiate many upgrades if they’re not already in the home. Builders will rarely make changes in the home, but may add things like fencing, gutters, etc. An experienced agent will know just what to ask for and how to get the deal done!
Give us a call to help you understand and negotiate your new construction home 904.476.3721.