Tips for Buying a New Construction Home

Screenshot 2016-06-27 at 9.35.36 PMBuying a new construction home means more than just making a down payment. When looking at new home communities, you have two options:

  • Buying an already built home. This is ideal if you like the existing features and want to move in soon.
  • Building a home. This allows you to customize features. However, it could take six months to complete from the ground up.

When you buy a new construction home, make sure you have an agent. Upon arriving onsite, let their agent know you have an agent. The onsite agent represents the builder, not the buyer. Your agent will negotiate on your behalf.

Can you get a lower price when buying a new construction home? Maybe. Consider these factors:

  • How quickly are homes are selling in the neighborhood? If properties are selling faster than they’re built, you probably won’t have much negotiating room.
  • If there’s lots of inventory, the builder might negotiate. Keep in mind, builders don’t like to lower their price because they don’t want to devalue the neighborhood. After a house is sold and the sale recorded, the next buyer can see the price and will want a discount too.

Many builders will help pay closing costs if you use one of their preferred lenders. Make sure you’re getting the best financing possible by getting a truth in lending statement from two or three lenders.

With all this in mind, how can you get a great deal on a new construction home? Although you might have to pay the asking price, your agent can help you negotiate incentives or upgrades. For example, you may be able to get hardwood floors throughout the main floor or a stacked fireplace.

Need help buying a new construction home in Cherokee, East Cobb, or Fulton County? Call The Premier Group today.