Though you may spend a bit more initially, there are many perks to buying a new home. Brand new everything means nothing will need to be replaced for a long time, you can often customize many of the features, and being the first owner means that you can truly make it your own. Here are four things to consider if you’re interested in purchasing a brand new home.
1. Individual homes aren’t usually listed online
You most likely won’t find your brand new home by shopping around on Zillow or Trulia. Instead, builders often feature generic images of model homes on their websites long before construction is completed. It’s easier to get all the details — what lots are still available, pricing information, and what’s included — if you and your realtor call or visit the sales office.
2. New homes often sell before they’re completed
Developers aim to sell new homes as quickly as possible. The faster they sell, the faster they can move on to the next project. The easiest way to snap up a new home at a good price is to pay close attention to new construction projects in your desired area and contact your agent as soon as information is available.
3. First buyers get the best deals
Because developers need to start moving inventory, the first buyers to make offers typically get the best deals. You may have to deal with some construction noise and activity, and you’ll rarely be able to walk through your actual home at this stage, but if you’re willing to take the leap, you should have more equity in your home in the end.
4. Builders may offer perks and discounts at the end of a sales cycle
Even if you don’t get in on the ground floor of new construction project developers are still eager to sell remaining properties right before the end of a sales cycle. They’ll often offer incentives in the form of appliance or flooring upgrades, or discounted closing costs. As with any home purchase, it never hurts to negotiate.
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