location, location, location
location, location, location
Where you buy not only affects the home's current and future value, but it also affects your lifestyle. Your agent will be able to conduct a more targeted home search if you outline your preferences in neighborhoods and nearby amenities.
#1 Think about the length of time you plan to live in the home
Your agent should be knowledgeable about growth trends
and projections that could affect your investment
Here's a checklist of items you should consider and
communicate to your chosen real estate agent.
nearby
restaurants
and retail
access to major highways
access to public transit
desirable
neighborhoods
proximity to the airport
urban
suburban
or rural
commute
time
school
districts
health care facilities
parks and recreation
opting for new home construction
Whether to buy an existing home or have one built is yet another decision to make during the home-buying process.
If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date and other terms
with the home builder.
hover over each topic below to learn more about how real estate agents can help with new construction
Selecting a Builder
— Name, Title
selecting a builder
Shopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles.
Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certified by the National Association of Home Builders.
— Name, Title
how a real estate agent can help
A builder representative's ultimate goal is to sell you a home. His or her role is to provide a wide range of information to help you in your decision-making, from building restrictions, roads and easements to inspections, warranties, rebates and upgrades.
A real estate agent knowledgeable in new-home construction will be able to help you wade through all the data and point out the downsides and upsides of each line item. 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.
it's all about timing
Market conditions greatly dictate a builder's incentive to make a deal you cannot refuse. 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. Also, watch for builder close-out sales. Builders promote these special events when a new subdivision is near completion but empty inventory still remains.
Selecting a Builder
— Name, Title
selecting a builder
Shopping for a large production or custom home builder can be a daunting task.
Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles.
Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certified by the National Association of Home Builders.
a note on paying upfront
While there are always exceptions, most builders require a deposit when a purchase agreement is signed.
They also require that the buyer pay for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose that money.
Make sure you understand every detail in the builder's contract before signing it.
