If you are getting ready to start house hunting, the allure of new construction is undeniably attractive. You get to be the very first ones to live in the home, it’s full of brand-new appliances, and all the finishes and treatments are hand-picked to your liking. Also, no need to worry about structural or cosmetic upgrades for years.
When buying new construction, the builder will have an agent that is able to help you through the process. But don’t make the mistake of not having your own agent from the very beginning, since the builder’s agent will obviously be keeping their client (the buyer) in mind.
IMPORTANT: If you are working with an agent, make sure you tell them before going to a new construction site or registering on their website. If you don’t mention your relationship with your agent, they can essentially represent both you and the builder which is never optimal for a transaction. It’s great for the new construction agent because they get paid twice! Any questions about this, please contact me and I can explain.
It may be tempting to just sign the deal that the builder’s agent presents, seems easy enough, right? But trust me, you’ll want someone there who is able to represent your side of the deal.
Here are my three BIG reasons why you need your own agent.
- You’ll have your own negotiator and advisor.
With the way the market is right now, new construction sales have slowed down considerably. This could work strongly in your favor, because the builders may be more motivated to make a deal. Your agent will be able to strategize and negotiate on your behalf to get you the best deal possible
- Making sure selections are appropriate for resale.
When it comes to new construction, a ton of details are left up to you. Things you may never have thought much about before, like locks or cabinet finishes. While it is of course going to be your desire to pick out things that are most aesthetically pleasing to you, having an agent oversee your choices could save you a lot of hassle down the line. An agent can help you pick timeless options that are most optimal when it comes time for resale. Your agent can also guide you with major decisions like layout, which is going to be a huge factor someday when it’s time for reselling.
- Market and process knowledge.
The process for new construction is not the same as a typical home purchase. There are different things to consider, the timeline is different, the paperwork can be different – knowing what to look for and how to structure the deal in an optimal way will greatly benefit you. Also, knowing and understanding the market is key – where the market is now, where it has been, and the trajectory of where it is going, this is all vital information that you are going to want to know before committing to anything.
Having your own agent in a new construction deal can save you considerable time in numerous ways. It’s always smart to have an agent with your best interests in mind in any real estate transaction.