Who doesn't like new?
Whether it be a car, pair of shoes, coat of paint....ok, there have been a few new hair-dos I could have lived without, but for the most part new is always exciting and fun.
Here in Maple Valley, new construction was a strong driving force behind the run up of prices in '05 and '06 as demand far (FAR) out paced supply. Things have leveled off to a more even point and builders not only have more affordable product now, but some are offering some hefty incentives upon sale.
If you're looking for a brand new home here in Maple Valley, you may have to consider the presale option. This is where the builder does not begin construction (sometimes the permit hasn't even been pulled yet) until there is an agreed upon contract. Most of the available presales right now indicating 4-6 months for completion.
Here are some other common questions I'm often asked about buying a newly built home:
Q: Should we get an inspection?
A: Absolutely! Just because the home has been permitted and signed off by City or County inspectors throughout the process, they don't check everything. I've seen and heard about everything from bathtub drains not being connected to no insulation under the paper in the crawlspace (this was probably a sub who didn't want to bother going out and getting more bat insulation so he covered it up to appear as if the job were completed)
Q: How much will be be able to negotiate with the builder?
A: This really depends on a few variables. How much inventory is the builder sitting on? Have there been any recent sales which might reflect a negotiating trend? If the house is finished, how long has it been sitting vacant?
Remember, a builder must be able to protect his future appraised values and may not be able to negotiate a great deal on price, but there are always other things to get thrown in; fences, landscaping, upgraded appliances....An experienced new construction agent will be able to help walk you through this and help you plan your strategy.
Q: Should we have our own agent or go to the site and work with an agent there who might be more familiar with the builder and inventory?
A: I'd say this too depends on you and your style. If you're fairly savvy with the home buying process, it's probably ok to go right to the site agent. Many builders have agents available to act as Buyer's Agents for you, to write your contract for you. But sometimes these agents might be feeling some pressure to make sales numbers for the month and may be a little more high pressure than an agent who knows what you want and wants to make sure you get the right "fit" even if it's not in that neighborhood.
If you're still undecided about which development, which builder, or how to structure your offer, I'd suggest having an "outside agent" as your advocate. Someone who can help you with product comparison and pricing.
Even if you have to wait a bit longer for your new home, the thrill you'll get when you finally get those keys will be more than worth wait.
Comments (4)Subscribe to CommentsComment