Purchasing new construction

When driving through newer developments seeking new construction, having an experienced agent with you is important. will be your guide when navigating the seeming infinite number of new homes today to find one that's perfect for you.

In real estate, you can always negotiate. However, with new construction, it depends on the builder and how long the home has been available. Developers in new additions don't like taking lower than their asking price because buyers already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and current market conditions, a builder will often allow a few concessions.

For example, if a property has been on the market a long time and the builder has a lot sunk into it, then you have some room. The same goes for show or model homes that have been sitting for a while. However, if a home was just completed, it's unlikely you'll get a deal.

In cases where a builder won't budge, ask for assistance in other areas. Ask for them to pay a share of the closing costs, or more amenities, like appliance upgrades, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. Or take the contrary route. If a home is nearing completion, you can often save money by passing on suggested upgrades from the builder and installing things yourself.

Just because a home is brand new, it can still have its share of flaws. Be sure to get a home inspection before purchase so that issues are handled and also negotiate a home warranty. Then, about 10 or 11 months after purchase it's worth it to pay for an inspection and get anything else repaired before the warranty expires.