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How to Buy a New Home from a Builder

by anonymous

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The process of buying a brand new home, whether it is already built or one you have decided you want to build, can often times be daunting. The pursuit of that beautiful new home you are dreaming about can be exciting, overwhelming and confusing but most of all it can be expensive. Mistakes can be made if you do not understand the builders position during your the negotiation process.

Here are some things to know, ask and consider while you are choosing a builder and negotiating a contract to build or buying an already built home in a builder’s community. Remember that above all the builder wants to sell you a home but it is after all a profit business and the builder’s goal is to close the deal with a reasonable profit, as much cash up front as possible and financial commitment on the buyer’s part before breaking ground or getting to a closing table.

Why do some builders include upgrades, options or interior and exterior choices in the upfront price of the home, often called the base price, and some do not? The bottom line is that you will be expected to pay for upgrades often called options, interior choices and even elevations, exterior design choices, one way or another. Often it boils down to marketing and negotiating strategies between different builders. If there seems to be a large cost difference between builders, once you have chosen your features, then you need to look at several issues.

Ask yourself, am I comparing apples to apples on the kind of upgrades and quality of the structure the different builders are offering?

Example: the same quality of granite, flooring materials, window types, energy efficient programs , roof poundage, amount and type of decorative trims, and door qualities just to name a few. Each builder has a builders specification list that tells you what is included in your base price and the specifications of the materials such as granite level, heights of base boards, types of doors and electrical, energy and plumbing specifications.
If you do not understand the differences it is the job of your sales person to explain to you the differences in these items. When comparing product to another builder’s product offering the sales person needs to explain why their product cost more money. Remember, in life you usually get what you pay for when it comes to quality. However, do not forget some builders may expect you to pay more for identical quality items.

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