Buying New Construction? Why You Need an Agent to Help
It’s customary to call a real estate professional to help you when you’re on the prowl for a resale home, but what about if you’re interested in new construction? Isn’t it enough just to deal with the builder to choose a lot, select your home’s layout, and seal the deal? After all, you don’t have to deal with a seller or need a home inspection.
Contrary to what you might believe, buying new construction isn’t as simple as picking out a specific model and signing a few papers. It’s still a real estate transaction and needs to be carefully navigated before you make any commitments.
Here are just a handful of reasons why a professional real estate agent should be by your side representing you when purchasing a new home build.
Make Sure You Work With a Trusted Builder
Many new home construction builders are reputable, but some aren’t. How will you be able to spot the bad apples in the bushel? Having a real estate agent on your team can help you focus on builders that have a good track record of following through with their promises and delivering high-quality craftsmanship. Understanding how a specific builder works can help to avoid any unpleasant surprises and pitfalls down the line.
Offer a Sense of Security
Just like with a resale transaction, having a buyer agent represent you will ensure that your best interests will be looked after. Builders are in it for the money, just like any other type of business. That’s not to say that you won’t be treated with professionalism, but the builder’s best interests inevitably lie with them.
If you work with the builder’s real estate agents, they’ll be representing the builder, not you. The builder’s representatives will be working to keep the best interests of the builder in mind rather than yours.
Having the sense of security to know that you have a professional who’s experienced in the realm of real estate – including new construction – can help ease the stresses that are often associated with entering these types of transactions and ensure that you are properly looked after.
Ask the Right Questions
When you’re buying from a builder, you must ask the right questions to get the answers you need to make an informed buying decision. An experienced real estate agent will know the right questions to ask.
What extra charges will you be responsible for paying? Can you transfer the agreement before it closes? What type of warranty is offered? What upgrades can be selected? These questions only scratch the surface of what should be asked before you sign on with a builder, and your agent will now exactly what to ask.
Guide You to Choosing Upgrades That Will Bring the Most ROI
Just because you’re in the process of buying a new home doesn’t mean you shouldn’t consider the potential of selling your home some time in the future. While you may have decided that this will be your “forever” home, anything can happen. Choosing the right upgrades for the specific neighborhood you’re buying into can help add more value to the property should you ever sell.
In addition, experienced real estate agents will be able to provide you with advice on upgrades that would be more cost-effective to do on your own or with a separate contractor after the fact to help keep more money in your pocket.
Ensure the Contract is Solid
If you’ve ever been involved in a real estate transaction before, then you’re likely well aware of the fact that these contracts can be lengthy and often confusing. There’s a ton of real estate industry lingo in these documents that the average person may not understand. Just like a real estate agent can help you navigate these contracts in a typical resale deal, so can they assist you when reviewing the contracts that you will be bound to with the builder.
Help With Negotiations
Negotiating isn’t just reserved for sellers of resale homes. You can also work with a builder to make the deal a little bit sweeter for you. Real estate professionals understand exactly where they should be focusing their negotiating tactics. Even if the builder is set on the purchase price, they may be willing to include extra upgrades or even closing fees in the deal.
The Bottom Line
It’s easy to get caught up in the allure of new home construction, especially when you visit a sales center or model home and see how beautiful a new home can potentially look like. But it’s important to keep your head up and treat this transaction like any other contact. Having proper representation in the form of a buyer agent can help ensure you’re covering all the bases and protecting your pocketbook.
