Expert advice on new construction purchases
While exploring newer neighborhoods seeking new construction, having an experienced agent on your team is crucial. will help you navigate the sea of new homes today to locate one that's right for you.
In real estate, you can always negotiate. However, with new construction, it depends on the developer and the length of time that the home has been on the market. Developers in new additions avoid bending on price because buyers already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and what the market is doing at that point in time, a builder will often allow a few concessions.
Say a property has been on the market a while and the builder is deeply invested, 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 with other aspects of the transaction. Ask for them to pay a share of the closing costs, or more 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.
Just because a home is brand new, it can still have its share of flaws. Be sure to get a home inspection before purchase so that issues are handled and also negotiate a home warranty. Then, about 10 or 11 months after purchase it's worth it to pay for an inspection and get anything else repaired before the warranty expires.