2 minute read
The Homebuyer’s Guide to New Construction: 3 TIPS for BUYING NEW CONSTRUCTION
by Expert Contributor Sarah Forti, Owner of Forti Homes with Keller Williams Realty
Newtown Square is a fantastic place to plant roots because of its convenient location, amenities and beauty. It’s no surprise that there’s a high demand for new homes here! With so many new construction options and price points, there is something for everyone. Before you walk into the sales center, be prepared with these 3 important tips.
1. Location, Location, Location
The first thing to consider is the lot location in the community. To immediately learn what lots are available, look at the site map. This info can often be found on the builder’s website.
Certain lots can accommodate specific home designs or sizes. If a walk-out basement is important to you, you’ll have to find out exactly which lots are sloped in a way that accommodate that setup. If privacy is important to you, look for a lot that backs to woods. And if being a part of the action and close to the community is a priority, consider a lot a few doors down from the pool, playground or clubhouse.
2. Budget for Base Price + 15%
To be realistic about your budget, anticipate costs of at least 10% over the “base price,” and know it’s more common for owners to spend upwards of 20% on upgrades and specific selections. For example, if the base price of a home is $500,000, budget to spend about $75,000 on upgrades for the lot and options you desire.
The model home often includes up to 40% in options and upgrades such as extra lighting, upgraded flooring, increased square footage, luxury countertop materials in the kitchen and baths and more. Know your maximum budget and start at a base price below that to accommodate for your specific selections.
3. BYOR – Bring Your Own Realtor!
Bringing your own Realtor to the sales office ensures you have someone working for you and your best interests only. If you do not bring your Realtor to the first visit, and/or share your Realtor’s info with the sales rep, the builder may refuse to work with your agent. That leaves you at the mercy of being “represented” by the agent whose paycheck is issued by the builder.
Buyers’ Agents who have sold multiple homes in new construction communities know which incentives buyers should take advantage of, such as extra upgrades and deals on lot premiums, and they know which opportunities you can skip such as builderfinancing in some cases. There is often little or no negotiating room in large community new construction, so having a Realtor who can help identify where there are opportunities could save you thousands of dollars.
Sarah Forti, Expert Contributor and Newtown Square’s Resident Real Estate Expert
FORTI HOMES with Keller Williams Realty
Serving Newtown Square, Main Line and Philadelphia
610-986-7170
Sarah@FortiHomes.com
www.FortiHomes.com
744 W. Lancaster Avenue, Suite 125, Wayne
