By Jeff Seman, Associate Broker, DL Jones & Associates
The new home industry has had its ups and downs but new communities are popping up again. New builds can offer the latest in style and energy efficiency! Here are 5 tips to help you get the most bang for your buck:
1. The base price is not the final price – The average buyer will purchase upgrades of 15 to 20 percent over the “sticker” price. The $250,000 base price is really closer to $287,500.
2. Popular options have higher profit margins – Some of the most popular options make the most money for the builder. Knowing which items you can purchase later will save your bottom line. Flooring and granite are just a couple of examples.
3. The Builder Sales Agent only represents the builder – Builder Sales Representatives do not represent the buyer. You may think they are representing you through the process but at the end of the day the Sales Agent must protect the builder’s interest.
4. There is no additional cost to have your own agent representation – Builders have a built-in commission for buyer agents. If not used, that money goes to the builder.
5. Arizona Realtors® use a standardized contract for the purchase and sale of homes – The one exception is a contract for the purchase of a new home from a builder. Builders do not use the standardized forms familiar to the average agent. Having professional guidance with these forms is vital to protecting your interests.
Your new home buying experience will be an exciting and rewarding process when using an agent who has knowledge and experience to navigate the new build process. Happy house hunting!
