Purchasing new construction

When scoping out newer developments looking for new construction, having an experienced Realtor with you is important. will help you navigate the myriad of new homes today to locate one that's been built for your family.

Buyers of brand new homes in a neighborhood aren't happy when the homes that sell after theirs fetch a lesser price. Knowing this, the builder or developer often won't bend on price. (You'll appreciate this behavior after you've bought a home in a development of new construction!) Regardless, depending on the market and the status of the project, there's sometimes room for negotiation.

For example, if a property has been on the market a long time and the builder is deeply invested, 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 recently completed, don't count on being able to 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 extra 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.

Realize that just because a house is brand new, it doesn't mean that it is immune from needing repairs. 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.