Buying new construction seems simple, right? Just pick out the floor plan you want, choose the perfect lot, and watch it go up. No sellers to deal with, no unexpected repairs that come up during inspection, no drawn-out negotiations. Right?
Not so fast. In any real estate transaction, it's important to have a professional on your side, even if the process seems straightforward.
"Having your own agent provides a sense of security," says Seattle-area homeowner Kristy Weaver, who has bought two new construction homes from two different builders. "It gives you some peace of mind, knowing that someone is looking out for your best interest."
Peace of mind is just one benefit of having an experienced agent along for the ride. Read on for five more reasons you’ll want a local real estate agent by your side when buying a new construction home.
1. Help you find a reputable builder
"Your agent can rely on their own experience and that of their colleagues to help you find a builder you can trust," says Portland, OR-based real estate agent Kim Ainge Payne of the Realty Trust Group. "What's the quality of the workmanship? What kind of warranty do they offer? What's their track record of resolving issues? Getting a clear understanding in the beginning can alleviate serious headaches down the road.”
2. Go to bat for you
The timeline for purchasing new construction is typically quite a bit longer than buying an existing home. From the first time you visit the sales center, to choosing your layout, construction, inspections, and finally closing, there are ample opportunities for things to go sideways - think construction delays, permit issues, and financing concerns. An experienced buyer's agent can help you navigate all of these sticky situations.
3. Help you review your contract
Even if you've purchased a home before, the contract for new construction is a whole different animal, and an experienced agent can help you make sure you understand everything, from floor plans to earnest money requirements, deadlines for requesting changes, and timelines for completion.
"It's crucial to have a third party who represents your interests in the transaction," says Dmitry Yusim, a Seattle-area agent who has represented new construction buyers. "A good agent can add the proper addendums to protect you if something falls through."
4. Assist with negotiations
Buyers’ agents know the areas where you'll find the most wiggle room when it comes to negotiations.
"Builders are trying to keep their sales price up so that the next buyers through the door see the higher closing price," explains agent Britt Wibmer of Windermere Real Estate in Seattle. "They'd much rather throw in closing costs or additional upgrade credits."
5. Point you toward smart upgrade choices
Builders will offer you endless options for finishes and upgrades, and it's easy to get overwhelmed. A seasoned real estate agent can recommend the upgrades that will get you the most bang for your buck in resale value, suggest finishes that might be cheaper to do on your own, and help you avoid over-improving, which can jeopardize your appraisal before closing.
Even though a friendly sales representative will greet you with a smile the moment you walk through the door of the sales center, don't forget that they work for the builder. Bring your own agent with you starting with your first visit - in fact, many builders require your agent to register with them from the very beginning in order for them to be involved in the process and receive their commission.
With a professional you trust by your side, you'll rest easy knowing someone is there to protect your money, your time, and your new home.
Wondering if new construction is right for you? Search new construction listings, and get more home-buying tips and resources to help you decide.
Related:
- 6 Critical Questions to Ask When Buying New Construction
- The Home Buyers’ Guide to New Construction
- My Experience Building a New Construction Home
Originally published January 18, 2017.
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