In short, ABSOLUTELY YES! Read on and I’ll give you 5 reasons you should use a real estate professional when buying new construction.
Reason #1
When you visit a new construction sales center, there will be friendly people ready and willing to help you purchase your new home. These lovely folks are good people who are usually quite knowledgeable about the different home models, neighborhood amenities, available lots, available upgrades, pricing, and more. But, stop and think who they work for and who are they representing.
The sales center staff are employees of the builder. Their job is NOT to represent you. In a real estate transaction you should have a professional Realtor representing you, whether you are buying new construction or a resale home. Best of all, the service of a real estate professional working on YOUR behalf is COMPLETELY FREE TO YOU!! Commissions are paid by the seller. Some buyers are under the misconception that if you go in without representation the builder will automatically give you a discount because they don’t have to pay a commission but this is rarely true. In fact, most likely they’ve just made an extra 3% +/- on the purchase of your home! This is the first of 5 reasons you should use a Realtor when buying new construction.
Reason #2
The appeal of new construction is undeniable – unblemished by the hands of previous residents. You have a chance to design your home from scratch, picking all of the finishes, upgrades, and appliances. Unfortunately, touring beautiful, professionally decorated and staged model homes is like seeing a shiny object in a dark room; it’s very distracting. Its allure can often lead you off-track from what you had actually set out to find and may also leave you over-budget and/or without your wish list fulfilled. The last thing you want on move-in day is buyer’s remorse!
An experienced real estate professional will sit down with you before ever putting you in their car to help you determine exactly what you are looking for in a home and, especially, your budget. If you become distracted by the shiny object, they’ll help to center you by reminding you of what you previously determined you wanted and the budget you set for your purchase. Equally as vital is your Realtor understands the difference between what you see in a model home and what actually comes with the base price; there is typically a HUGE difference between the two. Your real estate professional knows this and will do their best to help you understand this as you begin looking. This is the second of 5 reasons you should use a Realtor when buying new construction.
Reason #3
We are in a tricky market right now. Sellers hold all the cards at the moment and this includes builder-sellers. I recently visited new construction with one of my customers. When we left, my customer asked me how I knew to ask all of the questions I did. That comes with experience! Are you familiar with a builder’s escalation clause? Do you know what one is, what your rights are, and the possible outcomes of an escalation clause? Builders have changed and added things to their contracts recently included, escalation clauses and resale restrictions. It is important to have someone by your side who knows this and knows what to ask so you are fully informed. This is the third of 5 reasons you should use a Realtor when buying new construction.
Reason #4
Real estate professionals keep themselves informed and educated about the new communities being built and ones that are coming soon in the area. They also educate themselves on other development that could impact many aspects of your purchase such as commercial projects and/or roads planned near or around the communities you’re considering. You’ll want someone in the know of anything that can impact the value of your purchase and/or your day-to-day life in your new home. This is the fourth of 5 reasons you should use a Realtor when buying new construction.
Reason #5
There’s no real estate transaction that goes off without a hiccup or two along the way, including new construction. Your real estate professional will be available to guide you throughout the home building process and see you through to the day of closing (and beyond). They’ll be a constant resource if you have questions and to advise you along the way. For customers who don’t live in the area year-round, which is common for SWFL buyers, your Realtor will also be boots on the ground that can keep tabs on construction and serve as your representative if needed. This is the fifth reason you should use a Realtor when buying new construction.
I hope these 5 reasons to use a real estate professional when buying new construction have motivated you to find a local REALTOR® to represent you. Even if you’ve already gone to see new construction alone and registered on your visit, it’s still highly likely that they will welcome your REALTOR®. Your real estate professional will even make this phone call on your behalf!
Would you like a professional by your side to navigate buying new construction? Give me a call! 239-216-0641