Many of you know that outside of my interest in writing and public speaking that I work full-time in the real estate business. I love helping people find a place to call home and making that process easy for them. One trend I have seen in my business is more people choosing the new build route over purchasing pre-owned homes. We personally made the choice to purchase a new build in 2017 and wanted to share a few reasons why I feel buyers should consider a new build.
Most new build companies offer incentives to those buying homes in their communities. Some of those incentives are freebies such as blinds, refrigerator, washer, dryer, upgraded flooring etc. but other freebies carry a monetary value that helps lessen the amount of closing costs. Many times these closing cost reimbursements can be tied to using the preferred lender associated with the new build company in exchange for a closing cost credit. In most instances these credits are thousands of dollars which allows buyers to bring less money to the closing table. Many new build companies also have hometown hero incentives for those who are in education, law enforcement, Fire or EMT services.
2.) NO BIDDING WARS
In today’s market in Dallas/Fort Worth buyers of pre-owned homes are facing multiple offer bidding wars when attempting to purchase homes in the 300k and under range. Purchasing a pre-owned home 225k and under can be very tough as buyers are going up against cash investors in many situations and cannot compete. I listed at home for one day in this price range and received 16 offers in 10 hours. With new builds you do not have to worry about fighting someone else to get the home you love. In some cases for those that are already built you can negotiate a lower price if they have sat on the market for a little while.
Most new build companies offer a warranty on all aspects of the home over the beginning years of the home. Some even employ a 1,2,10 year warranty plan that covers more everyday cosmetic items for one year, HVAC and other appliances for two years and a ten year warranty on the structure and foundation. Every builder is different so make sure to ask about their warranty program. That being said almost every new build has a better warranty than the year long residential service contract that the sellers purchase for the buyers on a pre-owned home.
You also do not have to worry about negotiating repairs with the seller on a new build because the home goes through numerous inspections as well as allowing the buyer a final walk through to point out any flaws they notice before closing.
I want to close by encouraging you that if you are interested in new builds take a licensed Realtor ® with you to meet with the builder’s rep. It can only help you to hire a realtor to help represent you in the transaction. While the builders reps are typically very helpful, they still represent the builder and not the buyer. With the service of a realtor being free for buyers, it seems to be a no-brainer to have them present at all meetings and closing.
If you have questions do not hesitate to reach out.
Darrell Halk, Realtor ®
Brokered by ERA Cornerstone Realty