Purchasing new construction

While exploring newer neighborhoods looking for new construction, having the right agent at your side is vital. will help you navigate the myriad of new homes today to find one that's been built for you.

In real estate, negotiation is always an option. However, with new construction, it depends on the developer and how long the home has been available. Developers in new additions like to keep prices near their asking point because homeowners 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 what the market is doing at that point in time, a builder will often allow a few concessions.

For example, if the home is pretty much move-in ready, you have little to no negotiating powers. But if the home has been sitting fully furnished, like a show or model home, and there haven't been many offers - then the builder might be willing to work with you. The longer the home has been on the market, the more the builder has invested.

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 additional amenities, like an allowance for window treatments, 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.

While you should always negotiate a home warranty so problems can be fixed, get a home inspection before your purchase regardless. Inevitable problems can be repaired (by the builder) before you move in and larger problems identified before it's too late. Since an inspection is relatively inexpensive, some new home buyers get an inspection after being in the home for 10 or 11 months - that way, the builder can make the repairs before a 1 year warranty expires.