New Construction

New Construction - Rouzan
Evelyn Greenwoo…:
Have you fallen in love with one of those perfect model homes in a new construction neighborhood? I love them, too. Hi, I’m Evelyn Greenwood with Fathom Realty. Buying a resale house versus new construction are very different processes. Having sold new construction homes, I know how important it is to think about a few essential things when purchasing new construction.

Probably the most important thing to know when purchasing new construction is the importance of working with a realtor. Yes, real estate agents represent buyers all the time on new construction purchases. It can be confusing for you when you go into a model home and sales representatives provide all of the information and answer your questions. But they work for the builder, and you should want someone representing you. Like many realtors, I am familiar and specialize in new construction and our input is valuable. Having someone on your side representing your best interest, not the builders, is important and doesn’t cost you any money. Usually your agent’s fees are paid for by the builder, and so you do not save any money if you don’t have an agent. In fact, you’ll most likely end up paying more without representation because of what you don’t know.

Now, let’s talk about understanding the different costs of new construction. You may see that roadside sign that says houses start in the 400s. When you go into the model home, everything available is priced closer to 500,000. That’s because the advertised price is for the cheapest model with no upgrades or lot premium.

Now for construction options. Does your builder offer a bonus room option or the option to change a living room into a den or that extended master bathroom? If so, these options typically almost always costs more and will increase the price of the home.

Cosmetic options. These are the fun ones. Going to the design center to pick out your floors and cabinets can be the highlight of the building process, but you can also get a big dose of sticker shock. So compare what their costs will be in comparison to having a third party do the upgrades. Don’t forget you’re paying the interest for the lifetime of the loan on all those fancy upgrades.

Check out the next video with a few more things you need to know when purchasing new construction. I hope all this information helps you out there for those of you who are thinking about new construction. Again, this is Evelyn Greenwood with Fathom Realty. Remember, everyone deserves a happy home.
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