New construction has a lot of promise. When you buy a newly built home, you’re getting the latest in amenities, as well as the most up-to-date building standards. You’ll also be the first owner of the property, which is a great thing. New construction, like that at The Pointe at Hunter’s Creek, is an exciting proposition and one that can be a bit confusing.
Whatever your wants and needs are can be made a reality but this can only be done if you and the builder are on the same page. Unlike a resale, new construction isn’t as much of a straightforward process. The negotiation and purchase are more complex and that’s just one reason to have an experienced go-to person on your side.
New Construction versus Resale Homes
Buyers that are in the market will have ample opportunity to be introduced to a lot of experiences. Too many times, buyers overlook new construction because they believe it’s just too expensive. When compared to a resale, that’s not the case. Old homes are just that and you’ll be faced with repair after repair. Buying a newly built home means not having the financial burden of fixing things that break.
“When you buy a new house, do you need the services of an experienced real estate agent? The answer is yes, and here’s why. When you buy an existing house, what you see is what you get for the asking price. When you buy an as-yet-unbuilt house, what you see in the builder’s furnished model is not what you get for the advertised base price.” —Washington Post
New construction comes not only well equipped with new appliances and other amenities but also something that’s a big advantage: a warranty. Sure, you can purchase a warranty for a resale but chances are excellent that its coverage won’t come close to a new home warranty.
Reasons Why You Need a Realtor when You Buy New Construction
Since newly built homes easy outperform resales and there’s no current owner to deal with, you might think that purchasing one is as simple as touring a model, then choosing your upgrades. It’s not that simple and you need an experienced real estate agent to protect your interests. Here are the reasons why you should use a Realtor when purchasing new construction:
- The builder’s agent represents the developer. The sales representative that’s showing the model homes is paid based on his or her sales performance. He or she is there to upsell you wherever possible. Your agent will help identify what’s worth it and what isn’t.
- Fiduciary responsibility. Your buyer’s agent will explain anything you don’t understand, from the contract to riders, and will act in your best financial interest. You’ll also be able to get advice about things like closing costs and more.
- Negotiating the deal. Those enticing upgrades can be quite expensive. In addition, your buyer’s agent probably has a short list of the best lenders and will be able to identify potential areas to save or get discounts.
- Managing the process. After signing a contract, you’ll need to work to close the deal. That entails inspections, the closing, and more, all of which your buyer’s agent can help you with to save time and money.
When you buy a home, you are exposing yourself to many potential problems, even if it’s a newly built house. So, get someone on your side that knows the process well.