How to find the best deals for new construction homes
If you are setting your sights on new construction homes in Warner Robins, GA, you should expect to shell out for a property priced not much lower than what the current market dictates. New builds may fetch a steeper price, but it should not make you stop looking for the best deal for your precious homebuying dollars.
Here are six ways to make sure that you get the best value for your money when you buy a new construction home:
- Compare similar properties
With help from a knowledgeable, experienced, and well-connected local Realtor, do your research before committing to any deals.
When you know how much the property should be priced, you will have a firm starting point when you negotiate toward the final deal. Even if you are willing to pay the market price for a new build, you should know whether the builder’s asking price is reasonable based on comparable properties.
- Choose neighborhoods carefully
Being strategic with your choice of neighborhood can also lead you to your most favorable deal. Home prices are subject to supply and demand, so prioritize neighborhoods with a larger inventory of homes. Your agent should be able to help you identify these communities.
- Inquire about builder’s incentives
You can cut down on your total expenses on the various things you need to buy for a new house by focusing your negotiations on upgrades, instead of the property’s sale price.
Builders typically offer a wide range of incentives or credits to entice buyers to agree to pay market price for a new construction property. If you reach a stalemate in your price negotiations, threatening to walk away from your impending deal can convince the builder to throw in attractive bonus items, home features, and other concessions just so they do not lose the sale.
Tap your agent’s expertise in negotiation to maximize your deal. Try to get the builder to offer incentives such as:
- Paying for the closing costs of the sale
- Buying down the interest rate of your mortgage
- Custom or higher-end finishes with free installation
- Free upgrades from the standard appliance package to high-end pieces
Every builder will have a distinct selection of incentives and credits prepared as their bargaining chips, so be sure to hold steady during negotiations until you have exhausted all possible options that can improve your final sale package.
- Check on the prices of upgrades from other contractors
As you iron out the details of your deal, the builder will likely offer additional upgrade options at extra cost. It won’t harm you to consider these upgrades if you want to make your new home more move-in ready and custom-built to your preferences. But take some time before agreeing to these offers.
Do some research on how much local third-party contractors will charge to build or add the same upgrades and extras.
If these contractors can provide them at a more affordable rate, you can either choose their services instead or use their pricing as a bargaining chip to negotiate toward lower prices with the builder.
- Consider buying the model home
If you are determined to purchase a new construction property for the lowest possible price, inquire about the model home or show house. While you will not get a home that is 100% brand new and unused, the model home is still a newly constructed property that has never been owned.
The key advantage with buying the model homes is being able to negotiate based on its actual current value because it is already built. On the contrary, if you choose a house that is still under construction or yet to be built, the builder can justify pricing it higher based on projected prices of building materials in the future.
The model home is also a property that you will already have seen and scrutinized, whereas choosing an unbuilt home leaves you with more uncertainty – not to mention a waiting period that can be subject to delays.
- Keep tabs on the base price if you are buying early
If you do choose to buy several months before the house will be completed, pay attention to the base price at which the property was offered.
In case the market causes a significant drop in the base price and similar properties were offered to later buyers for much less than what you paid, you will have leverage to request an adjustment – even if you are under contract.
Work with dependable Realtors with substantial experience in buying new homes in Warner Robins, GA. Get in touch with Warner Robins Home Search, Middle Georgia’s most trusted real estate experts, today!