How Do You Buy A New Home From A Builder?
How to Buy a New Home From a Builder Wednesday April 8, 2009 If you’re thinking about buying from a builder, do your homework first. Because if you are in the market to buy a new home, you probably have dozens of questions. The ones I most often hear are: Do you need to hire your own agent or should you use the builders sales agent? Will the builders preferred lender give you the best loan or can you negotiate your own financing? Buying a brand new home is a lot more complex than buying an existing home. Especially if the home will be built to your specifications . . . read more about Buying From a Builder. More Articles by Elizabeth Weintraub: • Mortgage Tips for a Soft Real Estate Mar
Revised and expanded simple and straightforward advice on buying a new home from a home builder. Step 1 First you have to decide what you want in a new home. Do you want a spec house, a semi-custom home or a completely custom home? Much of the differences in the cost of a new home is in the upgrades. If you want the best of everything in a house, you certainly will pay for it. If you are willing to take a standard plan with builder’s grade materials, you will get a house that meets code but don’t expect much more. Step 2 Find out about the builder. Search the builder’s name and his company name on the Internet. Call the Better Business Bureau. Call the local home builder’s association but remember they are builder advocates. Get referrals from previous buyers of the builder’s homes. Step 3 Consider hiring a buyer’s agent to negotiate for you. You can attempt to have the seller pay your agent’s commission or you can add it to the purchase price of the home. Look carefully for a buyer’s
