Buying New Construction with a Realtor
Key reasons to let a real estate agent assist you in this pursuit
Working with a realtor is paramount when buying a new construction home. From proper representation to ensuring you get the most bang for your buck, working with a realtor will help you throughout the home buying process. Your agent should be present from day one, perhaps even introducing you to the community you decide to invest in. Keep reading to learn about the many benefits of working with a real estate agent when buying new construction.
Before you begin your new construction purchase, you want to be 100% certain that the neighborhood and build fit all of your wants and needs. What amenities are you looking for in a neighborhood? Do you need to live close to a country club? Are you seeking a waterfront property? A realtor will ask you various questions to help you figure out which community is right for you.
Additionally, your lifestyle plays an important role when deciding on a community. A realtor specializing in new construction is savvy to which new neighborhoods are opening and pre-sales on lots. Brand new communities that are taking pre-sales will often save you money.
While there will be real estate representation in the builder’s sales office, this professional represents the builder’s best interest, not yours. Hiring a real estate agent to represent you and advocate on your behalf ensures you will get the most value for the least amount of money and make the transaction easy and stress-free.
You toured the model home, and it looks fantastic and includes everything you desire! The issue is that the model isn’t the base price being advertised — it’s higher due to upgrades. Whether the amenities are granite countertops, upgraded appliances, or other enticing features, these upgrades add up in price fast. A realtor representing you will inform you of what’s included in the base price and what costs extra.
The seller or builder pays the real estate agent fees. Builders factor commissions to realtors into their business costs. In fact, they rely on real estate agents to bring in clients. This means there is no downside or cost on your end to have an outside realtor represent you.
You may pride yourself on having strong negotiating skills, but the fact remains that having an objective realtor negotiating on your behalf will yield optimal results. Your agent will not have an emotional connection to the new construction, looking at the transaction from a logical and financial perspective without being swayed by feelings. Additionally, a realtor will know what is and is not negotiable, as it does vary by the builder. Your agent will inform you of the warranty, any free upgrades, and negotiate any additional fees.
Builders typically offer financing options when you’re buying new construction. However, knowing whether or not it is the best financing available can be tricky. This is where your real estate agent comes in. Your agent will use their expertise to connect you will reputable lenders for rate comparisons.
Whether this is your first or fifth home purchase, working with an agent to help you navigate real estate contracts, benefits you should receive, hidden fees, community fees, etc. They will guide you each step of the way, advising you before you dot any Is or cross any Ts.