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New Construction Homes, What’s the Advantage?
In the real estate world, there are a lot of different options for buyers to choose from. Resales, new construction builds, custom builds, flips, foreclosures and the list goes on. New construction homes are probably the least worrisome, and offer a lot of advantages to the buyer, but they are not without challenges altogether.
Some of the top benefits of new construction include:
Move in ready convenience
Modern floor plans and design
Better energy efficiency
Updated fixtures and equipment
New community with amenities
Ability to customize (depending on builder)
Lowered maintenance costs in the first 5-10 years
Some concerns or challenges of new construction include:
Not all builders are created equal
Sometimes, upgrades/options are limited
Upgrades/options might cost more
Less room for negotiations
Often new homes are built on smaller lots
You may live in a construction zone for a while
Hiring an agent familiar with new construction can be a great advantage to a buyer, for many reasons like the following:
Agents can make recommendations on upgrades and their return
They are skilled negotiators
They understand contingencies and inspections
The builder is usually represented by an agent, you should be too
The seller (builder) usually pays for your agent
They can recommend financing and lending options
Don’t go at it alone. You deserve representation to make sure that your best interests are satisfied and a skilled new construction agent can make a world of difference in your experience.
Prior to his real estate career, Geoff spent nearly 25 years in the retail Grocery industry, most recently as a Store Manager with Publix Supermarkets, Inc. His ability to manage diverse people, syste....
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