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HOME SELECTION
Once the issue of financing is out of the way you are ready to start your home search. However, before you begin looking at homes, you need to analyze your housing needs and determine which factors are most important to you, both in a home and in a neighborhood.
Decide what elements you must have in your new home, those on which you are willing to compromise, and those that you do not want or prefer not to have.
Next, select the community and the neighborhood where you want to live and the type of home that best suits your individual needs, tastes and lifestyle.
Buying considerations:
In the home buying process, you will need to set priorities. If the home’s appreciation is one of your primary considerations, focus on location. The location is the most critical factor affecting a home’s value. While you can improve the condition of your home, you will not be able to change the character of the neighborhood. |
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To maximize your appreciation potential, choose the best
location and community you can afford even if it means sacrificing on certain amenities.
The most desirable communities have some of the following characteristics: well maintained homes, a low crime rate, convenient commute options, cultural amenities and shopping, restaurants, good public schools and services, the availability of walking trails, parks, and other recreational opportunities, and the potential for future economic growth. |
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| Factors such as the real estate market conditions, your buying needs and financial abilities, as well as the location, will inevitably define what and where to buy. Since there is no such a thing as the perfect home, you need to be ready to make compromises. |
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Buying a brand new home can be one of the best investments you’ll ever make. But be careful! It can be perilous if you don’t quite know what you’re doing.
You’ll be wise to be represented by a real estate specialist who is dedicated to
your service exclusively.
Why should I use Buyer’s Brokerage when buying a brand new home?
Why wouldn’t you? It’s FREE! The Builder has representation, so should you, the Buyer. It’s important for you to understand that Agents at a new-homes subdivision
work for the Builder. They are not required to protect your interests.
What will you do for me?
- We will help you find the community and home that best suit your needs and financial requirements.
- Obtain information about the community of your choice, including current real estate values, taxes, utility costs, municipal services and facilities, and other important issues.
- Verify if any zoning changes, road improvements or other developments are being considered in your intended area.
- Obtain information on the home site's availability and help you select the location of your lot within a community.
- Negotiate the list price and concessions on upgrades and closing costs.
- Clarify what is included in the purchase price.
- Assist you through the process of completing your purchase agreement.
- Request the Builder to conduct pre-construction Buyer orientation, and explain the construction timetable.
- Negotiate with the in-house lender or the Builder’s preferred lender to finance your home purchase. Historically, we have been able to negotiate better financing terms and lower loan costs for most of our Clients than they could get from any other source.
- Check on the construction progress.
- Upon completion of the construction, request the Builder to conduct the Buyer orientation walk through to check for items requiring attention or adjustment.
- Request the Builder to conduct the quality assurance check to make sure everything is in proper working order.
- Assist in arranging for the property inspection.
- Attend property inspections.
- Request the Builder to conduct pre-closing orientation and explain operating procedures for all aspects of your new home.
- Request the customer service representative to explain the Builder’s warranty policy and how to request customer service if warranty repairs should be needed.
- Accompany you on the final walk-through to make sure that all of the items identified during your initial walk-through have been addressed.
- Assist you through the closing process.
- Obtain copies of closing documents.
- Facilitate transition into your new community.
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The willingness of the Builder to negotiate the sales terms will depend on the Builder’s financial situation, how well homes are selling and current market conditions.
Choosing the Right Builder
Smart Buyers choose the Builder before they choose their home.
Important considerations when choosing the Builder:
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- The Builder’s reputation and capitalization.
- How long have they been in business?
- History of the Builder’s past developments.
- Would they let you tour newly completed homes and homes under construction?
- The Builder’s reputation with lenders, subcontractors, and material suppliers.
- The quality of workmanship and durability of construction.
- The quality of building materials used in construction.
- Are appliances and fixtures brand name and energy efficient products?
- Do the Builder’s homes meet high-efficiency Energy Star ® guidelines?
- Are the homes constructed in a timely manner?
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- Does the Builder offer an in-house
comprehensive home warranty?
- Do they offer warranty and maintenance information for all systems, appliances and surfaces?
- Do they offer extended and transferable warranties?
- What is the quality of warranty service?
- Does the Builder have a customer service department?
- What is the quality of customer service?
- Are claims resolved in a timely manner?
- Do they have knowledgeable, professional and ethical sales staff?
- Do they let you perform inspections during the construction?
- What personalized selections will you be able to make to suit your specific needs?
- Are you allowed to have an independent home inspection?
- Have there been any lawsuits or complaints filed against the Builder?
- Do they offer any home buying incentives?
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How Much Can I Expect to Pay for Your Services?
Absolutely nothing! The fee for our services is paid from funds Builders have already set aside to market their homes. Therefore, you’ll have the highest level of service and protection possible without any cost to you. In fact, your cost may be considerably lower.
CAUTION: If you visit the Builder’s sales office without us, understand that we cannot intervene later on to help you, even if you don’t sign a registration form. In order for us to assist you, we must accompany and register you as our Client on your first visit to the sales office. Otherwise, the Builder won’t cooperate with us.
Remember, if you visit new home developments on your own, you will forfeit your right to representation by a Broker. YOU WILL BE ON YOUR OWN!
Unfortunately, on-site sales agents won’t notify you of this fact, nor will they advise you on the most current home buying incentives offered by the Builder.
Do I have to pay a higher price for a home if the Builder pays your brokerage fee?
NO! The fee we receive from the Builder has no effect on the sales price of the new home to you. The “Fair Housing Act” prohibits the Builder from increasing the list price of the home to you because you have your own Broker representation.
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