We’ve all done it…
…You’re out-and-about and stumble upon a new-build community that was just too beautiful to pass up, so you walk in…
…stop right there!
While it is tempting to quickly pullover to “just take a look” at the new community and the pretty models, it poses a big problem. Many buyers go into the office with the intention of just looking around but don’t realize that they have cemented their decision NOT to use their own REALTOR, should they find a house they want to buy in that new-build community. Let’s be honest – many serious buyers often find new homes desirable, once they’ve had a look.
There’s nothing wrong with buying a brand new home, in a brand new community. It’s just important to point out that any and all buyers will need and want someone on their side, to represent their best-interests, and if they walk into that office without a REALTOR, they are risking whether or not they will be able to have their agent represent them whatsoever.
It won’t take long, into the process, to discover that the builder and the sales representative do not represent the buyer’s best interest. Their job is to get the best price for the builder, in order to set high comparable sales. Buyers are very unaware of what upgrades they could get, what incentives to ask about, and what the terms of the contract could hurt them.
With new build sales, it is extremely difficult if not impossible to get out of buying the home, without losing your hefty deposit (not always, but the terms are much more strict these days). It is essential for a REALTOR, who is looking out for you and your interests to break down how the transaction and contract will go, so you fully understand what to expect before you fully commit.
Realtors can also help with helping buyers decipher which builders are the right for them. Certain builders have reputations of things like building a low-quality home or having poor standard finishes (causing a buyer to have to do an exorbitant amount of upgrades), or not having a good builder warranty in place. Other builders may have incredible standard finishes, which is great for a buyer (they do not have to add in a ton of upgrades, which can add 25-50% to the purchase price).
The key is, if you are a buyer and happen to see a new-build community you would like to check out, make sure to call your REALTOR right away. Make sure to give the new home sales representative your agent’s card and ASK if your agent can represent you (if you do end up loving the community).
In the end, this will only help a buyer take on the daunting and confusing process of buying a home in a new-build community.
Buying a brand new home can be exciting, so let me help you continue the celebrations.