Lynn B. Friedman - Atlanta Homes ODAT Realty: 7 Ways to Save When Buying a New Construction Home

7 Ways to Save When Buying a New Construction Home

Dear Readers -

Mike Likenauger from Jacksonville FL shares his advice for the Jacksonville, Ponte Vedra, St. Augustine and Orange Park Florida area.

He is very proud of his Short Sale successes in his Market area.

ActiveRain Bloggers advise many people - here are some tips for new construction purchases.

Mike encourages Buyers to get an Agent --and offers several other helpful hints here in his post. I am sure you will enjoy reading this and other posts of his such as Short Sales News.

 

 

 All the best - Lynn

PS  If I haven't thanked you personally for reading my Blog, let me do so right now! I really appreciate your stopping by and (perhaps) commenting! L.

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Thinking about buying a new construction home? I've helped over 500 new construction home buyers in Northeast Florida find the right property, saving each and every one a good bit of money along the way. Here are a few tips I wanted to share with you if you or anyone you know may be thinking about buying a new construction property.
  1. Always use an agent - This is of no cost to you, so it should be a "no brainer"! The builders agents, despite being polite and helpful, look out for their employers best interests. Shouldn't' somebody be looking out for yours? A good real estate agent can guide you through the entire process - from finding the right community and home, through the contract to the closing table. This is so important to do that the builders actually put aside money to pay for you to have an agent represent you. If you don't use an agent, they simply keep this money.
  2. Take advantage of the LinkUp Realty 1% exclusive rebate program - We have a great rebate program which will give you a 1% rebate / discount on ANY new construction home with ANY builder, just for using us as your agents. We take our commission that the builder pays us, and share it with you. We have done this in over 500 transactions and have paid well over 1 million in rebates to new home buyers such as yourself. If you don't take advantage of this program, or have purchased without this program, you have without a doubt paid too much for your home. Find out more information about this excellent program.
  3. Hire a home inspector - A home inspector will visit your new construction home multiple times through thenew construction 4.jpg construction process in order to help insure things are being built as they should. In Jacksonville alone each year there are tens of millions in settlements for poorly constructed homes, most of which could have been avoided if a home inspector were used. Sometimes an inspectors findings can even be used to negotiate additional incentives prior to closing. Contact me today to be connected with a certified home inspector.
  4. Do some upgrades outside of closing - It is just a fact that most builders have a very high mark up on "upgrades". We recommend doing non structural upgrades after closing to save 30%-50%. Some of these items such as fences, ceiling fans, irrigation systems, gutters, lighting fixtures and custom painting should ideally be done outside of closing in order to save a good bit.
  5. Buy a spec or inventory home - Most builders seem to have the most flexibility on "spec" or inventory homes that can close quickly. If you build out a home from scratch you can usually get exactly what you want, you will likely pay extra for this... Of course, in a market where prices are appreciating you will also potentially have some equity in your home by the time it is built out too. Right now there are excellent incentives in neighborhoods like Bartram Park, Samara Lakes and Sebastian Cove, as well as many others.
  6. Time it right - Builders do periodic "sales" typically in order to sell inventory or spec homes in a desired time frame. Find out when a builders fiscal year is ending. You can rest assured you can get the best deal possibly if you can close just prior to a fiscal quarter or year ending. Builders also periodically do interest rate buy downs or additional closing incentives, throw in extra upgrades ect... from time to time. Prior to talking about price, as if there are any sales coming up in the near future.
  7. Negotiate upfront AND before closing - Before going to contract, make sure to negotiate as much as possible. One of the easiest items to negotiate is the lot premium. Other items to negotiate are additional closing costs, rate buy down, additional upgrades ect... A good real estate agent will know how to help with this as well.

The process of buying a new construction home is not as simple as you would think and can be quiet a big headache. My job is to get rid of your headaches and help make the transaction go as smoothly as possibly. Please contact me to talk about how I may be able to assist at (904)625-7455 when you get a minute to discuss things

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Comment balloon 5 commentsLynn B. Friedman • April 06 2017 11:13PM

Comments

Hi Lynn

There are some really good tips here worth sharing with buyers who may be thinking about buying a new construction home who likely are not aware of these things about new builds.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) over 1 year ago

Yes good points.   Being un-represented is not a good option...especially when building.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) over 1 year ago

Thank you for reblogging the post. I missed reading the original one 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 1 year ago

Enjoyed the post Lynn, I even suggest a home inspection on a new home purchase. I followed your link and learned  few things about short sales 

Posted by Charles Stallions Real Estate Services, Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl. (Charles Stallions Real Estate Services Inc) over 1 year ago

New construction purchases are difficult and require the expertise of a Buyers' representative to protect the Buyers' interests. When I used to work new construction, I was simply confounded by the numbers of buyers who walked in off the street with no representation at all.

Posted by Cheryl Dukes . . . . . Intown Atlanta (Solid Source Realty, Inc.) over 1 year ago

Participate