Why you should consider buying a new construction home.
Local planning and zoning offices are really busy with all of the new developments being planned throughout Williamson County. The lack of resale homes has many home builders struggling to keep up with current demand.
Many homeowners are cashing out their equity to move up, or in some cases, downsize into a new construction because of the advantages these properties offer.
As an Accredited Buyer Representative, I hold a certificate in New Home Construction. Through my research and experience I’ve outlined what I believe are the advantages in purchasing a new construction home.
The New Home Advantage:
- Everything is New
Everything in the home is new and in good working order.
- Maintenance & Repairs
For the first few years of home ownership, homeowners can avoid some of the maintenance and repair cost that typically come with resale homes.
The builder usually covers most items for a 12 month period. Additionally, we offer our new construction clients an additional basic home warranty for years two through four – currently underwritten by Landmark Home Warranty.
- Energy Efficiency
HVAC, water heaters and other appliances are new and manufactured with the latest innovations in energy efficiency; saving homeowners money on utilities. Not to mention, they usually look cool too.
- Electrical and Low Voltage Wiring
New wiring means less problems and if you build the home from the ground up, you usually get to choose where to place certain outlets or lighting.
- Individual Choices
Finishes are done to your specifications with your tastes. We’ll help match floor plans to your lifestyle and needs, then you add the finishing touches. However, some production builders have limited the number of upgrades allowed.
- No Haggling Over Condition or Repairs
Buyers walk through prior to closing with a punch list and tag the home where the builder needs to make repairs and touch-ups.
Most floor plans offered by builders have varying degrees of customization. You may put a flex space where the fourth bedroom would normally go or add an upstairs game room to a single story home. These are not normally included in the base price but can make a floor plan better suited for your lifestyle.
- Relationships with Lenders
Builders almost always have a lender they prefer to use and will often entice you to use them. This is done so they know there will be no delays in closing caused by a lender. Delays in closing can cost the builder real money for each day it’s delayed. I’ve seen the incentives range from a simple title policy to $7,000 in builder paid closing costs.
Choosing a new home and building it from the ground up is an exciting endeavor; it’s building your dream, instead of fitting your dream into an existing home.
Remember, when you do go out to look at model homes, make sure you have your REALTOR® with you on your first visit. REALTORS® must be present with their clients on the first visit. After that, you may visit the sales office as many times as you wish without your REALTOR®.
Viewing all the wonderfully new and gorgeous model homes can be quite intoxicating, and it’s the best part of home buying; but it can sometimes result in disappointments down the road. The disappointments usually happen when folks don’t know what questions to ask. They believe it’s ok to “go it alone” and it’s no wonder, with all the Reality TV shows on the air these days. TV has a way of convincing even the most inexperienced person of believing they can and should do it alone. But just like most things in life, there’s Reality, and there’s Reality TV. I focus my attention on my clients to help guide them through the entire process, so there’s fewer surprises – if any.
How are REALTORS® paid?
The comment I hear or read most often is: “Why should I hire a REALTOR®? I will get a better deal if I don’t have an agent.” This is a myth on two fronts. First, REALTORS® are paid from the marketing budget of the builder, not from the proceeds of the home purchase; and second, since REALTORS® currently make up about 80% – 85% of a home builder’s business, builders will not jeopardize that relationship by selling a home an additional 3% lower price to someone who doesn’t have a REALTOR®. The bottom line: They like working with us and we like working with them; and a builder won’t give a discount to someone just because they don’t have to pay a REALTOR®.