Buyers often assume they won’t need to have a Realtor on their side when buying new construction. After all, the agent working with the builders has all the information they could need, right?
Actually, while this agent is usually very knowledgeable, it’s important to realize that they are not working specifically on your behalf. Having your own representation will help make sure you understand all the fine details of the process as they relate to you and your needs.
Two of my clients are having their new home built in Monroe. Using the budget guidelines given during our initial meeting with the site agent, my clients went to the design studio and shopped for upgrades.
Imagine their shock when the totals came back at $40,000 more than what they had budgeted and planned.
I followed up quickly. As we found out during this next meeting, the site agent had explained the customization and upgrades in a way that sounded like we had $40,000 to spend in upgrades that were included in our agreed-on price. Not the case.
At this point, it was up to my clients to decide what truly did matter to them. Because while they were happy with the standard finish options, certain customization options can have a significant impact on the livability of a new construction home.
For example, current new construction doesn’t include overhead lighting in dining rooms, living rooms, or bedrooms. These are the sort of details that buyers might not think to consider until they’ve been prompted. After all, most people wouldn’t assume that overhead lighting would be an extra expense.
To balance out those extra expenses, I pointed out several upgrades which were in the original plan but weren’t necessary for my clients. A man door in the garage, for instance, turned out to be a $2,500 expense which my clients didn’t even want.
The gas BBQ stub (which would have added $600 to the cost of the home) and a railing instead of a stair wall (for $3,000) were two other features my clients easily eliminated.
By cutting out even just these three features, my clients saved thousands below what the initial bundled cost had been.
Thanks to this meeting, my clients walked away all smiles. When all was said and done, I helped them save just under $7,000.
As you can see, customizing a new construction home can quickly rack up a high price tag. So if you’re interested in purchasing a new construction home, bring your Realtor. You don’t know what you don’t know. Put our experience to use to make sure you’re getting what you want and not paying for what you don’t.
If you don’t already have a trusted Realtor, I would love to speak to you about how I help my clients save thousands buying their brand new home. I work through transactions like this every day. I would be happy to guide you through yours.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.