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KW Office: 814-272-3333, Direct: 814-272-6106

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The New Construction Process (copy)

 

5 TIPS TO NEW CONSTRUCTION

1. Pair up with a New Construction Expert.

If building a home is within your budget have your agent start the home-buying process with homebuilder tours. Using an experienced new construction real estate agent can be a powerful advantage. Agents that know the inner workings of the building process can help you compare option pricing, navigate cost savings, find land options, determine proper timing when selling & building, and advocate for you in negotiations. Agents without experience are learning with you not looking out for you. 

2. Select a Builder.

Determining what type of builder is right for you and your budget can be a daunting task. Every builder has their niche and what they are best at so understanding the differences is key. Start by defining what architectural styles and construction quality appeals to you and then seek out the builders in your area who offer those types of homes. Due diligence is essential when weighing out the differences between a large production builder from a smaller custom builder. Have your real estate agent show you completed homes from each builder so you can touch and see a finished product.

3. The Builder Representative and Your Agent

A builder representative's ultimate goal is to sell you one of their homes. His or her role is to provide the information you need to help you with decisions on a floorplan, pricing, building requirements, warranties, and the selection of your home's finishes and upgrade choices.  A knowledgeable real estate agent will be able to help you wade through all the data, point out the differences you need to consider, keep you up to date on builder performance, and other factors that will affect a smooth process. Your agent also can look out for your interests in reviewing the builder's contract, which often contains more legal jargon than consumer-friendly language.

4. It's all about timing!

Market conditions greatly dictate a builder's incentive to make a deal. When a builder has inventory on his hands, his carrying costs start adding up. When this happens, a builder might be more amenable to strike a favorable deal, whether it's throwing in upgrades or taking a bit off the asking price. A real estate agent can help you know when market conditions are right for these benefits. During times when market competition is high, your agent will be able to advise you on quick decision making and finding homes under construction before they are available for sale.

5. A word about paying up...

While there are always exceptions, most builders require a large deposit when a purchase agreement is signed. They also sometimes require that the buyer pays for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose deposit money. Make sure you understand every detail in the builder's contract before signing it.

 

 

Our team works with local builders and developers and our current projects include: The Horizon at Brush Valley in Penns Valley School District and Nittany Grove in State College School District. For more information about our new construction homes for sale, visit our page on our New Construction Communities.