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Pitfalls to Avoid When Buying New Construction
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Buying a new construction home is very different from buying a resale home, and you need to keep these things in mind during the process.
If you’re thinking about buying a new construction home, there are a few things you need to keep in mind as well as a few pitfalls you must avoid.
Of course, one of the best parts of buying a new build is that it’s brand new. However, we find that there are often some hidden costs that can drive up the price. For example, many of these homes won’t have landscaping or a deck included in the build, which can cost thousands extra. New homes won’t have window treatments or blinds, which can also cost thousands.
When buying new construction, you always want to make sure you have representation.
Many new construction buyers make the mistake of thinking they don’t need an agent of their own because there’s an agent at the model house. However, these people don’t realize that in Minnesota, 90% of the builders out there have agents that represent them alone. They’ll make you sign something that says the builder’s agent represents them. They’ll have the builder’s interests in mind, not yours.
You always want to make sure you have representation.
When you’re represented by an agent, they will save you a lot of money by telling you the options that will benefit your sale down the road. For example, we recently worked with a client who chose the option of a fancy speaker system in his new home that wouldn’t really add value when he sells the home. By helping him eventually decide against the speakers, we saved him about $35,000 that he wouldn’t have recouped when he sold the house.
If you have any questions about buying new construction or you’re thinking about selling your Twin Cities home, give me a call or send me an email. I look forward to hearing from you!
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