What Should You Know if Considering a New Construction Home?

Many people are opting for newly constructed homes since inventory is low on the market right now. The market is up but there are not a lot of great options currently.

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What Should You Know if Considering a New Construction Home?

Posted by MARK Z. on Thursday, August 14th, 2014 at 2:40pm.

Home ConstructionMany people are opting for newly constructed homes since inventory is low on the market right now. The market is up but there are not a lot of great options currently. Some builders are buying land and starting to build homes, and buyers are finding this option appealing. There are a few things for buyers to understanding if this is the path they are considering.

Better Bargain

Since builders don’t have much connection to the home they are building, neither emotionally nor personally, they aren’t going to be as likely to overcharge for the home. Someone that is selling the home they raised their family in may be more difficult to negotiate with because they will want to know what your plans for the property are going to be.

If two buyers were interested in a property and there was an emotional attachment, the seller may choose someone for reasons unrelated to the price.  Go with a new construction home to work with someone that is simply focused on the finances and not a personal connection to the home.

How to Find These Homes

New construction homes aren’t listed on a local MLS. It’s wise to check online advertisements, the paper, and on billboards for ads regarding new construction homes for sale. You can also work with your agent on these hard to find new construction homes.

The other catch is that the builder may not start production until financing has been arranged. This means that new construction homes are usually sold before they’ve started building. The buyers simply view a model home and choose which floor plan, finishes, and fixtures they would want in the one that is constructed for their family. Then they just put down the deposit and building can begin.

These are a few factors to keep in mind when considering purchasing a new construction home.

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