new home communities have all the shine and glimmer that buyers are looking for. after all, they are new. but it's still a home purchase and there are still steps that you need to ensure you adhere to in order to not only protect your interests but your investment as well.
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1. bring a realtor. i know, this may sound like i'm tooting my own horn (so to speak) but think of it this way: if you were in arbitration, would you feel comfortable having one lawyer representing both sides? chances are the answer is no. so why would you walk into a new home purchase without someone looking out for your specific interests? the new home salesperson is there representing the BUILDER, not you. this is where a realtor comes in handy. we have the knowledge and expertise to ensure that you aren't walking into something you'll regret down the road. the last thing a realtor wants is someone who is unhappy with their home purchase. a happy buyer is referrals down the road. end of story. so having someone on your side is in your best interest.
2. make it known you have a realtor. the minute you walk into a model home, have your realtor's card handy and register them as your point on contact. otherwise, whether you have an agreement or not with the realtor, you may not be able to use them in that exact transaction. it's honestly better for you to always attend models with your realtor- some builders won't even let you use one if they aren't physically present at your first walk-through.
3. don't be wowed by the model. i get it- i love walking into models too. the decor is unbelievable. however, these homes have been upgraded out the ying-yang. seriously, if there's an upgrade available, it's probably in the model. so when you're walking through and thinking, 'i would love to live here...' chances are you can...at a price. so understanding what is standard and what is upgraded is key to setting your expectations.
4. upgrade cautiously. whenever working with new home buyers i typically have the following sole piece of advice when it comes to upgrades: do what you can't do after the home purchase. items that fall under this criteria: architectural upgrades (bonus rooms, bump-outs, etc), higher ceilings, electrical outlets, better lot locations, etc. you get my point- whatever you don't think you can change after you move in, do it before. one item that i do recommend before that is somewhat cosmetic is cabinetry. this is mainly because upgraded cabinetry is cheaper via the builder than a custom job. countertops, flooring, light fixtures- these can all be done cheaper after you purchase the home.
5. ensure you understand your model and how it will sit on your lot. recently i was looking at a model home with a client. he said 'wow, look at all these windows. i'd love to look out on this landscape and have my cup of coffee.' however, once i pointed out all the other lots in the community and how the wall of windows would sit, it was clear: there would be no serene landscape view. you'd be looking into another neighbor's exact same windows probably drinking your morning coffee together. ha. know what you're getting into and envision all scenarios!
6. negotiate, negotiate, negotiate. depending on the community and the appeal, everything is still negotiable. upgrades, seller subsidy, lots, etc. again- this is where the knowledge of your realtor comes into play. relying on someone who has had training in real estate negotiations (or who has relationships with the builders) is beneficial to you- in all aspects.
7. get a home inspection. this may come as a surprise, but sometimes even builders make a mistake. i know- shocking! so you want to get a pre-drywall and post-drywall inspection to make sure everything is up to code and being built properly. horror story: i know of one community (not naming names) that had such an issue with 3rd floor bathtubs falling through to the 2nd and 1st floors, that all of the townhomes had to be re-structured to accommodate the fixture properly. had one person done a home inspection, this might have been prevented.
you can get a great home, in a great community, at a great price- as long as you have your wits about you and employ the right people to be on your side. this way you end up in a model situation of how a new home purchase can be successful.
xoxo Lauren
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