Don’t think you need a buyer’s agent when you buy a new construction home? Thinking it will help with negotiations and saving money by going at it alone? Think again.
New construction is a great option when you are considering relocating, moving up or down, or just wanting to make sure you don’t lose a contract in a competitive Greenville, SC real estate market. On the surface it seems easy. You just drive around on a weekend and walk into an office and before you know it (and a few thousand dollars later) you have picked out a home to be built. What could possibly go wrong right?
Misconceptions with New Construction Homes
Many wonder if they should go at it alone. There is a lot of misinformation found on the internet and other sources. One of the biggest misconceptions is that the buyer will save money by not using an agent. WRONG.
Others even believe that since a buyer’s agent wouldn’t be involved and the builder doesn’t have a to pay a commission, then the buyer has a better chance to negotiate to get more from the builder. WRONG again.
These are just a few of the misconceptions that abound with new construction.
We have been in many conversations where someone goes in on a weekend and decides on an impulse to start the process before they have really had a chance to think it out. A few signed documents later, they end up wishing they had given themselves more time to think it through. Many wish they had an advocate who works in the industry full time to work side by side with the on site agent and builder when the stressful process eventually ends. Keep in mind that it didn’t have to be that way.
We have worked with clients who believed that a good buyer’s agent is worth their weight in gold when the snags come in the process. We have a process in place that ensures a high level of satisfaction and assurance that what you order is what you get. Our clients have been so happy, while their neighbors who went at it alone, tell of their battle stories that didn’t end well.
New construction can be very exciting, but it is essential to work with those who understand the nuances in this industry. It is very important during emotional times to work with experienced agents who’s only job is to advocate directly with the agent on site and the building supervisors. Experienced agents will know the language and do their due diligence for a great experience for you.
5 Tips for Purchasing a New Construction Home
Now that you understand some of the misconceptions, here are a few key tips to keep in mind when purchasing a new construction home:
1. Don’t go at it alone. Hire a Realtor.
The biggest misconception is that you will save on commission. In reality, the builder will not reduce the price whether you have a Realtor or not.
2. Shop around different builders.
See what’s standard for each builder and the different layouts and incentives they are doing.
3. Be prepared for a 6-7 month process.
Expect delays based on weather and conditions.
4. Always do a home inspection.
A home inspection is necessary. In one instance, we negotiated a new roof because it was done improperly.
5. Keep a list of upgrades.
Before writing an offer with a Realtor, keep a list of upgrades because after the contract is ratified it will cost money to change the options.
If you are considering the great option of building, do yourself a favor and contact us before you start! We will meet you anytime and anywhere to ensure the process is a good one for you. Remember, the builder pays our company our compensation in the end. You just get a great professional team looking out for ONLY your best interest. What a deal right?
Contact us today! The Clark Lanford Team