Buying new construction home
We all know the feeling of buying something brand new. So obviously, buying new construction can be exciting. New floors, trimmings, and appliances, your choice of roofing and new paint colors… the list goes on. So we are not going to discuss these pros. Instead, we can focus on some of the challenges that go with new construction.
Higher cost
Brand new homes can cost more – sometimes up to 15-20% more than a similar existing home as the cost of new material that goes in construction and accessorizing the home is higher in today’s market. And all those fabulous amenities you saw during your model tour, will add up when you decide to put it in your new home. These upgraded features are marked up heavily and can end up costing you far more than regular market prices to add up to the builder’s profit.
New neighborhood
It means new landscaping which means for the next few years, you will not be having that tree-lined, quaint neighborhood that you see around in older established communities. Also, established neighborhoods offer buyers more of a chance to gauge the character of a particular area before buying in. In new communities, you will never know who or what kind of people are going to be moved in next to your house.
Ongoing construction
If you are the early movers in new a neighborhood, be prepared to deal with noise, traffic and other nuisances that will go into constructing other new homes around you.
Smaller lots
These days, in the Phoenix area, new homes are built on smaller lots comparable to older homes. If you’re looking for that big backyard and lots of space between your house and the next-door neighbor’s, it will be hard to find.
Construction Time
It takes an average of 6-7 months or more to get new home construction completed. You will not be able to move in right away.
Possible delays
There’s always a chance your home build will be delayed for any reason, which could mean a push back on your move-in day.
Post-move-in costs
New homes don’t come with the landscape, finished backyards, blinds, etc. Be ready to shell out more $$ to get it all done. Consider prices for all these when you decide on your budget for the house purchase. You don’t have to use a real estate agent to buy new construction, but you can. And you’ll likely encounter a sales agent when you visit a model home or meet with a home builder, someone who's been hired by the builder to sell properties in that community. You don't want to be outmatched if you're not personally experienced in real estate and you're proceeding without an agent of your own.
Now, if you do decide to buy a new construction home, for all those benefits a new home offers, you can contact us to work for you.
Remember, the builder is paying their people's salary and their agent's commissions to sell you the home to get them the best price. They are not looking out for your best interests. They want to make as much money as they can on each deal selling you various upgrades and features you might not even need. We, as your buyer's agent, will guide you on that process.
Our services come free to you!
It's the builder who will pay a buyer's agent's commission.
Let us work together. We are committed to protecting your best interests.
