As the economy has improved, so too has the construction of new homes. What were once sad, empty parcels of land are now beautiful new developments, so it’s no surprise that sales in these neighborhoods have increased as buyers have returned to the market.
Building your dream home can be exhilarating, especially if given the opportunity to not only pick your lot and layout, but everything from your interior finishes to your upgrades as well. While today’s homebuilders work hard to make the process as easy as possible for potential buyers, it’s still important to remember that purchasing a home involves a large financial transaction that can have an abundance of financial implications if handled incorrectly.
Therefore, while most new housing developments have their own agents on site to assist future homeowners in procuring a home, it’s still extremely important for buyers to maintain their own representation as well.
BUILDER REPS HAVE AN OBLIGATION TO THE BUILDER—NOT YOU.
While builder reps help detail things like the difference between various models and floorplans, as well as upgrades and available financing, it’s imperative to remember that those reps are still contractually obligated to place the interests of the builder first. Therefore, in order to be sure that your total wellbeing is given priority, buyers should seriously consider utilizing the services of an experienced Realtor who can make sure their wants and needs are placed at the forefront of the deal.
While you may think that you can easily go forth without an agent, especially in the hopes that the builder will negotiate the 3% agent fee back into your pocket, the reality is that they’ll probably keep it unless you have the representation of a Realtor who can research how much negotiating can be done. Without this outside assurance, chances are good that you may find yourself over paying for your property.
FIDUCIARY RESPONSIBILITY.
Real estate transactions involve a good deal of paperwork and legal considerations which can be difficult to navigate if you are not completely sure how the process should work. If you’re making the decision to spend hundreds of thousands of dollars on a home, you need to make sure that someone is looking out for your best financial interest. A Realtor will not only be contractually obligated to protect you, but can help you navigate the various clauses, riders, and upgrade options embedded in the final new-construction contract.
SMOOTH NEGOTIATION PROCESS.
Part of the buying process involves the negotiation of terms, upgrade options, and closing costs, as well as selecting the best financing for your needs. A Realtor will be able to present other attractive options for financing or will be able to work directly with the builder’s lender to secure a better rate for your mortgage.
A GUIDING HAND FROM SEARCH TO CLOSE.
From here, it’s important to remember that buying a new home is more than the fun process of selecting your finishes and signing on the dotted line. It also involves everything from working with title companies to attending numerous inspections, so it’s worth having a Realtor on your side who can manage the overall process and ensure you’re not missing anything before the home is completely yours.
Therefore, if you’re in the market for a new home and would like some help navigating the waters, I’d love to make my services available. Please call me for more information or to set up a meeting.
Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789
