I’m going to tell you a secret: a new home builder’s real estate agent works for the builder, not for you. Many people don’t realize this. While you will get a fair deal from your builder’s agent, a buyer’s agent that represents you is a valuable resource you shouldn’t dismiss. Purchasing new home construction is much different than purchasing a resale home. The process is typically much longer and the contract can be more complex. An expert buyer’s agent can advise you during contract negotiations and help you get the best value. So listen up! These tricks of the trade are just a few things to ask your buyer’s agent about before you visit your builder’s sales center.
Not all builders are equal. Choosing the wrong builder can be a costly mistake! An expert new home construction buyer’s agent will be familiar with the most reputable builders in your area.
CONTRACT TO CLOSE
The sales process for a new construction home is typically many months longer than with resales. Your buyer’s agent can stay on top of your construction timeline and help you make sure the builder is meeting deadlines so that you can move into your new home on time.
THE TIME VALUE OF MONEY
Every day a builder has a home sitting on the market, they are losing money to interest and payments on construction loans. A buyer’s agent can help you identify move-in ready inventory that has been sitting completed for longer than average - indicating the builder might be willing to offer upgrade incentives to get it off the market.
THE RIGHT TIME TO BUY
Many large national builders are publicly traded companies who answer to shareholders. These builders sometimes offer incentives for purchases that help them meet quarterly or annual goals. If you are shopping for the best deal, a buyer’s agent can advise you on when to watch for incentives.
Model homes are showcases for the builder’s best work and often come with many upgrades. They are typically sold after all of the other homes have been sold so it might require a wait to get into the community you want to buy in. Your buyer’s agent will know which communities are closing out soon and know where to look for model homes that you might get a good value on.
If you are considering buying a new construction home, before you head to the builder’s sales center, contact Team Sterling to get expert advice and more tricks of the trade from our new home construction buyer’s agent.