The draw to a new construction or custom built home is understandably strong.
Being the first owner to raise a family, enjoy the holidays, and make memories in a home that was designed from the beginning without limitations is a great feeling!
If you are considering a new construction or custom home, we recommend you still have a Realtor on your team to help you through the process. It’s at this point you’re probably asking, “why would I work with a Realtor if I’m not buying a previously-owned home?” Great question! Some potential answers are:
You Like Saving Money…
Having a Realtor on your team can help you save money in areas you wouldn’t have considered before starting the process (negotiating closing costs, reducing or eliminating “lot premium” fees, etc). Also, most builders are expecting to pay a buyer’s broker fee and they have that cost already built into their pricing model. In the scenarios where a buyer wanders in without a Realtor, the builder likely does not offer a discount, rather they just add more money to their bottom line, and all of this is happening while that wandering buyer is standing there with nobody to advocate for them.
…Stretching Your Money…
Often times your Realtor can work with the builder to include items that usually wouldn’t be considered (appliances allowances, product quality upgrades, additional landscaping components, etc.). It is also common for a Realtor to discuss with builders any “price credits” associated with various levels of design adjustments or upgrades. All of these things can save you REAL MONEY on the day of closing.
…and Protecting Your Money!
During the design process and lot selection, a Realtor can help you make choices based on comparable sales in the area to make sure you are not overpaying, and also to ensure that you will be positioned properly to sell the house in the future. It’s a fact of life that discrepancies with the architect, or general contractor can arise during a custom build. Having a teammate on your side that’s knowledgeable about the construction processes will help resolve issues if there are ever scenarios involving missed deadlines, or heaven forbid shoddy construction. If you don’t have a Realtor representing you, then every other person involved in this process has their personal and business interests in mind before yours. By hiring a Realtor you have trusted representation from the first handshake to the first night’s sleep in your new home.
The process of building a custom home can be long and exhausting, but incredibly rewarding. If you are considering a new construction custom built home, please feel free to contact us with any questions you might have.