Special offer

NEW HOME PURCHASE - to Build or NOT?

By
Real Estate Agent with CIR REALTY

Looking to build a NEW HOME.  

Having over 10 years in NEW HOME sales there is a wide range of opportunity to build a NEW HOME in Airdrie.

Firstly - most new home sales people work only for the builder.  NOT you, and are not licensed Realtors.   The New Home Warranty benefits the builder more than the buyer, you do have rights - but make sure you understand your rights and limitations.  **Like most salespersons they have quotas to make per month, every wonder why there is so much change over in Show Home sales people?

Lots will vary in price based on size, front or back exposure and elevation.  (Walk-out, level Lot, Back to Front lot) Expect prices to vary several thousand dollars for prime locations.

In Airdrie there are lots that range from $139,000.00 and up.  Depending on your community of choice -

The HOUSE plan you choose will also determine what lot you can build on.  If your home is WIDER you will need a bigger lot or have to make adjustments to fit the home in the building envelope.

A SPEC home might be the way to go?  This is a home under construction and is up for sale by the builder.  Depending on what stage of construction it is at, you maybe able to make minor adjustments and pick your colors, flooring and lighting.  This is a good way to go if you cannot wait to build a home, and also perhaps get a "SALE" price as builders want to get these homes sold fast, so they can move on to others.

BIGGEST ISSUE - I hear time and time again.  IS the price of the SHOW HOME to WHAT you actually BUY.  Most Builders quote the BASE price and work your number up from that baseline.  IF YOU'RE not careful you can spend a heck of a lot more money.   EXTRAS - are also a huge complaint.  What's include with your NEW HOME and all the cost of the upgrades!!

BIGGEST COSTS - that can deplete your budget:  FLOORING, LIGHTING and APPLIANCES.

YOU get the basics and limited budget to shop with at the BUILDERS suppliers.  

I recently met a NEW HOME BUYER.  They SPENT - $10,000.00 on appliances, $3000.00 on closet organizers. (this was way over the price they had been quoted, and the builders allowance didn't begin to cover any of it!

DOES IT MAKE SENSE to have someone in your corner working for you?   YES!!!   It costs NOTHING to you to have a NEW HOME REALTOR work for you.  THE Builders pays us our fees. 

BUYERS, BUILDERS and REALTORS -  Its all about getting you into YOUR BRAND NEW HOME.

 ********TERRI STEPHENS*************CIR REALTY************403-827-4663

     

Posted by

REALTOR®

Make it Airdrie  ~ Terri Stephens ~ CIR REALTY

403.827.4663

 

 

Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Terri.  Here in Florida, many Builders want to use THEIR Contracts, which are obviously slanted in the Builder's favor.   Builders also want to Hold the Deposit (understandable for a Custom Home, or when they are adding custom upgrades).   But I have seen Builder Contracts where the Deposit on a Spec House is essentially non-refundable.

Agree with you that Buyers should have a Real Estate Agent represent them when buying a new home.  Or, the Buyer should  have an Attorney review the Contract and other Documents before signing.

*  By the way, 2 of my brothers are Licensed Residential Contractors in Florida; my comments are not intended as a slam against Builders.

Jan 23, 2011 06:26 AM
Terri Stephens
CIR REALTY - Calgary, AB
REALTOR, Calgary & Airdrie 403-827-4663

Thanks Fred,

I enjoy working with your local builders.  Great bunch of people.  It always seems for me , I do a majority of my new home sales in the first quarter of the year.  

I often talk about the cautionairy tales of building a new home for all the NEWBIES.  

All the best to you for 2011 & beyond

 

Jan 23, 2011 06:37 AM