Building a brand new home is definitely different from buying a resale property. First of all, it is built for you – and no one else. You get to make selections that put your personal stamp on the home before you even move in. There are also a lot of choices to make: carpet, cabinetry, and all those upgrades. Should a Realtor be part of your blueprint for successfully purchasing new construction? The answer is absolutely!
Following are a few myth busters (selected myths/facts provided The Realty Corner) about working directly with the builder, but without the benefit of working with a Realtor.
• MYTH: The Builder will discount the price if I don’t have a REALTOR®.
FACT: In most cases, the agent is paid through the seller’s fees. Generally in new construction, the builder has already anticipated this cost. If you work with a builder without the guidance and representation of a REALTOR®, you’re likely paying for real estate services without reaping the benefits. Why put yourself at such a disadvantage? And although most think that working with a REALTOR® may cost them money, for a homebuyer, these services are free.
• MYTH: Buying directly from the builder will be hassle-free.
FACT: There will be many things to consider when purchasing a new construction. As you walk through a model home everything may seem straight-forward. However, the process of building, financing and inspecting your new home may not be as clear as you anticipated. You’ll benefit from REALTOR® services: to interpret builder jargon, contract language, advise you on inspections and contingency deadlines, and even help show you how your option choices can add value to your new home.
• MYTH: This is the price of the home I see is the price I will pay.
FACT: Not always. Many model homes have upgrades. These upgrades, or options, (such as hardwood floors or granite countertops) are attractive to most buyers. However, many prices advertised don’t include the options you see in a model home. If you’ve fallen in love with the ceramic tile in the foyer, make sure to find out if the tile is included in your total price or how much extra it will be to upgrade. A REALTOR® can help you choose the options that you want and guide you in making selections that also add lasting value to your new home.
• MYTH: REALTOR® services will not help me when purchasing a new home.
FACT: The builder has to develop every parcel of land owned in order to make a return on investment. This may mean trying to sell you a lot that may not be the best option for your needs, or a lot that may be difficult to resell later. A REALTOR® walks the lot with you, goes through the house or plans, and can recommend ideas to you may help you choose the lot and house plan that best suit your needs. A REALTOR® will negotiate terms, pricing, and builder concessions, and monitor inspections and contract contingencies throughout the building and closing processes. Your REALTOR® is your advocate, from foundation to the final walk-through.
• MYTH: The sales agent at the model home works for me, too.
FACT: Although they may be warm and friendly, the sales agents you meet when touring model homes work for the builder, not you. Their interest is in negotiating the most profit on the houses they sell. You need a REALTOR® you know is representing your interests.
• MYTH: The builders contractors and representatives monitor the construction process to ensure my specifications and timelines are met.
FACT: An inspector who will go to the site at predetermined intervals to insure that you are indeed getting what you pay for and to make sure that the builder keeps maintains standards and meets or exceeds building codes.
• MYTH: Any Real Estate Agent can assist me.
FACT: All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. Not all REALTORS® and agents are experienced in new construction. As a REALTOR® with plenty of new home experience, I also offer specialized services and resources for new home buyers, including financing, closing and title services, concierge benefits, extended home warranties and home insurance products.
If you are considering new construction, please call me. A solid plan and experienced representation can make a tremendous difference when building your dream home.
No comments:
Post a Comment