Buying a New Construction Home
Traditional New Construction Homes for Sale
Do not visit New Construction Builders without your REALTOR® present! (you may be waiving your right to representation)
Buying a New Construction Home comes with many benefits and may be a great option for you!
Always coordinate your first visit to the New Construction Home Site/Sales Office with your own REALTOR® so that you can be registered with your own representative. Most Builders will not allow you to include your own REALTOR® if they were not present during your initial visit.
- Pros and Cons to New Construction Purchase
- Pros
- Modern amenities & smart home features
- Lower Utility Bills
- New Construction warranties
- Limited need for repairs/renovations
- Customization/Personalization Options
- Ability to choose your own land-lot
- Integrated Lending and Title Services
- Incentivization packages
- Cons:
- Higher upfront costs
- Lot Premiums on desirable Lots
- Special financing options available
- Longer wait times/subject to supply chain issues
- Usually further away from city centers
- Limited landscaping options
- Active Construction sites
- Future Tax Adjustments
Who’s Representative are they anyways?
- Builder is the Seller.
- Agent on-site is the Builder’s Agent.
- Builder’s Agent keeps Builder’s best interests in mind, just like a listing agent – Sell the house.
- The Builder’s Agent may, or may not be, a licensed REALTOR®.
REALTOR® Buyer Representation Benefits with New Construction
The Builder’s Agent can be a valuable resource to you, but why not have your own representative in your corner to facilitate that extra peace of mind?
Myth Busting: If you waive your right to representation, the Builders do not pass their savings to you. Builders typically already have the cost of Buyer-Representation factored into their cost basis, so there is no cost to the Buyer for their own representation! The Builder pays the Buyer’s Agent commission fees.
Your REALTOR® and Buyer Agent works for YOU! Knows what questions to ask the Builder* Negotiating extras Financing Options Overseeing Home Inspections Attending Builder walkthroughs and site appointments.
*Pro Tip: Your REALTOR® can ask the site-sales representative what phase of properties are being released next and when, to give you insight into when your preferred lot will become available. Sometimes, you can even purchase a home on a lot that hasn’t been released yet – just by asking!
