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How to buy a New Home?

Edson Miranda
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  //  January 16, 2024

Some New Home builders are offering discounts on upgrades, reduced sales prices, and incentivized rates. Could 2024 be the year to buy a new house?

New Home shopping can be very exciting and can quickly become overwhelming

Are you thinking of buying a new home this year? Paige and I have bought and sold 5 New Homes together over the last decade and we’ve learned the dos and don’ts of New Home buying. Keep in mind, the New Home salesperson represents the home builder, lacking a fiduciary relationship to the buyer. A New Home buyer can learn the process as they go or experience the benefits of Buyer’s Representation while properly navigating the new build process, at no cost to them. Once we help our buyers secure a New Home and keys are hand, we receive our compensation from the home builder.

A Buyer’s Representation Agreement is an employment contract

What is buyer’s representation? Long explanation short, we’ve got your back! Once signed, the buyer becomes our client and we, as licensed real estate agents, are the buyer’s fiduciary. We communicate and negotiate with sellers and seller’s agents on our client’s behalf. We work closely with our clients and the New Home builder’s team to facilitate a pleasurable and transparent buying experience. Depending on your new home buying strategy we can help make wise decisions in the selection and upgrades phase of the new build. Also, we pray over all our clients and invite the Holy Spirit into their home search. Gold always shows us the way, providing Heavenly wisdom, and protection along the way.

The benefits are obvious, you get to have it your way

Do you know the difference between a spec or inventory home vs one you build from the start? Building a home from the start allows you some customization such as choosing the lot location, floor plan, and upgrades. There’s a potential for a “Forever Home” status. The drawbacks are often less obvious and you may not know the impact until you move in or get closer to Closing Day. We can advise on where to invest your upgrade budget, discuss worthy floor plan options to consider, and how to navigate quality control over the builder’s work. 

All that’s required for this strategy is flexibility and an open mind

Shifting gears, another strategy is to seek and find a New Spec home or New Inventory home. These homes are already in the build process and will be available for move in soon or they’re already built and ready for a quick move in now. Inventory homes can be a lucrative investment as oftentimes builders are ready to get these homes off the books by offering discounted upgrades, reduced sales prices, and incentivized rates. Spec homes are best suited for a stair step minded buyer, this home will be a stepping stone to the next home. We’d like to hear your thoughts, get the conversation started with us! New home builders often require the buyer to register their real estate agent on their first visit to the model home. Whether it’s your first new home build or you’re an experienced buyer, you don’t need to tackle this journey solo!

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