09 Aug 3 Things Home Buyers Should Know About Buying A New Construction Home
There are three important things home buyers should know and understand before considering the purchase of a new construction home in Hinesville, Georgia. These facts will help you make your final home selection with confidence after considering all the necessary information available.
New Construction Homes in Hinesville
The first fact to keep in mind is that some builders of new homes don’t belong to the local Multiple Listing Service (MLS) and, therefore, their new homes don’t appear in any MLS online listings. If a new construction home is what you really prefer to buy, be sure you and your real estate agent identify all the available possibilities in your community.
Some builders prefer to advertise through billboards, the newspaper, open houses and through other online sources. They staff their subdivisions with company employees who show and sell the houses. Builders reduce their costs by using these methods and retain greater control over the sales process in their development this way.
Hinesville New Construction Homes for Sale
The second fact is that you may be able to negotiate on price if you are one of the first people to purchase a home in a particular subdivision. Often times when a subdivision is built, the builder needs to be able to get several houses under contract in a timely manner, in order to tout the fact that several new homes were already under contract. Builders also want to be able to show their financial lenders positive news about their company’s monetary investment in the construction project.
So how does this affect you, the home buyer?
In the opening days of a new development, you may have some room to negotiate a discounted price on your contract for a new home if you will commit to the purchase in writing before the house is built. The potential risk is that as a committed early buyer, you will lose your down payment should you change your mind later. If the subdivision stalls in sales, you may be one of only a few homeowners in an incomplete and bankrupt development. If the development does well, however, your home will appreciate in value in a very short amount of time, as later phases of a subdivision usually sell for up to ten percent more than the original homes. In order to sort all of this out, you’ll need an experienced real estate agent in Hinesville by your side to help you along the way.
The third fact is that if you wait until the final phase of a development to purchase a new construction home, discounts of a different form may be available to you. Builders are ready and eager to conclude sales of the remaining homes in a development, and are more willing to negotiate with a serious buyer. A reduced price would become a matter of public record upon closing and potentially affect the value of other nearby homes. Instead, a builder may offer you an upgraded package that actually adds up to a better financial deal. For example, providing real hardwood floors instead of carpet could be worth more than a discount.
Purchasing a home is the largest financial investment you can make. Take your time and be sure of your final choice before signing a contract. If you’re ready to find the perfect new construction home, give our office a call today. Our team has years of experience, and each and every one of our agents has a passion for helping make the home buying process an easy one.