Purchasing a home is likely one of the largest investments you will ever make, so it makes sense not to go at it alone.
Most prospective home buyers wouldn’t think twice about contacting a REALTOR® on the purchase of an existing home. But not everyone thinks it’s necessary to have someone representing them when they are buying a home that is being built in a new community.
After all, isn’t the agent in the sales center there to help you and representing your interests?
Actually, they aren’t. They are representing the builder.
So if there is a snag in the process leading up to you walking across the threshold of your new home, who will be on your side to help navigate the challenges and keep your dream from becoming a nightmare?
It makes sense to get a REALTOR® involved early in the process – even before you have selected what you think may be your ideal community.
We all like having convenient shopping, but you may not be thrilled about a large big-box shopping center planned for your backyard. Your REALTOR® will be able to tell you what may be “coming out of the ground” by way of new development next to or surrounding the community.
Although the sign at the front of the community may say “Prices Starting at…”, model homes are loaded with options and upgrades that can dramatically impact the price of your home. When you walk into a model home, it is expected that you will be impressed with the grandeur of it all. A REALTOR® will be able to show you what’s actually included in the base price and which items are costly upgrades. If you’re not careful, you could end up falling in love with what you see and financing that fancy washer and dryer for 30 years without even realizing it.
Also, certain upgrades can be left for later and your REALTOR® can advise you on what options make the most sense while the home is being built, and what can be easily, and more affordably, added in the future. You can add wood floors or upgraded countertops any time, but it’s a little more difficult to add a half bathroom after the home is complete.
When it comes to the incentives, special offers, or financing options available, your REALTOR® is going to be by your side representing you in the process. The builder may offer what you think is the lowest rate on financing, but a REALTOR® is going to be able to analyze that deal for you and may have an alternative that delivers a lower overall cost. Also, many times you will hear about the builder paying for your closing costs; however, what you may not know is they are likely shifting typical seller costs to the buyer’s side of the transaction and then offering this “great incentive”. Please don’t misunderstand -- I am not implying that these are bad or malicious people, but you need to know who represents who and what a “good deal” really is in order to make the best decision.
As you can see, there are numerous financial and contractual things to consider when buying new home construction, and the list goes on. Your REALTOR® will help you understand the pros and cons of all aspects of this important decision. Remember, when buying a new home in Central Florida, you are negotiating with some of the largest companies in the US who do negotiations like this on a daily basis. The best part of having a REALTOR® represent you when buying a new construction home is that it doesn’t cost you anything. So why not take advantage of all of the benefits without having to absorb any of the costs?
