Purchasing new construction

When scoping out newer developments hunting new construction, having an experienced Realtor on your team is vital. will be your guide when navigating the sea of new homes today to make an offer on the one that's a match for you.

Buyers of new construction in a development aren't happy when the homes that sell after theirs fetch a lesser price. Knowing this, the builder or developer often won't bend on price. (You'll appreciate this behavior after you've bought a home in a development of new construction!) Regardless, depending on the market and the status of the project, there's sometimes room for negotiation.

Consider a property has been on the market a while and the builder has a lot sunk into it, then you have some room. The same goes for show or model homes that have been sitting for a while. However, if a home was just completed, don't count on being able to get a deal.

In situations where a builder won't budge, ask for assistance in other areas. Ask for them to pay a share of the closing costs, or extra amenities, like appliance upgrades, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. Or take the contrary route. If a home is nearing completion, you can often save money by passing on suggested upgrades from the builder and installing things yourself.

While you should always negotiate a home warranty so problems can be fixed, get a home inspection before your purchase regardless. Inevitable problems can be repaired (by the builder) before you move in and larger issues identified before it's too late. Since an inspection is relatively inexpensive, some new home buyers get an inspection after being in the home for 10 or 11 months - that way, the builder can make the repairs before a 1 year warranty expires.