When buying a new home, the builder's model home is usually staged with furnishings that fit the space well, colors that are contemporary and add to the ambiance of the home, pictures and wall art that stand out, window treatments that showcase the beauty of windows, custom made linens that pull it all together, upgraded carpet that adds lushness, upgraded tile and granite counters, and often... bump-outs that make the home larger. It is a staged home.
Once you have decided this is the right home in the right community, and you've found your home; where do you start with deciding on what options and upgrades you want?
Start with knowing what is included in the base price of the home. Perhaps the moldings in the entrance hall are included- but not in the bedrooms. The builder has a list. Walk through the home and have that list of what is included in the base price and apply it to the model home and what you are seeing. You must know the upgrades and options the model home has. You must know what will cost you more if you want it in your home.
Make a second list of the upgrades and options that cost extra - this should be a list of what you would like to add to the base price and have in your home. This is your "Wish List." Perhaps a lighting package with recessed lighting in the kitchen is a must have. Perhaps wiring to bedrooms for fans is a must have. Put it on your list.
Walk the home a few times. Walk the builder's other models and note the different upgrades in that home. Perhaps the smaller shower is available to see in the other model and once you do see it, it looks great and there is no need to upgrade and have two shower heads at the additional price of $5000.00. Or perhaps it is a must have for you and you can't live without it.
Now it is time to take that Wish List and number it in the order of importance.
For each upgrade that the builder has, get a price. Place it next to the upgrade.
Start with the base price. Know what incentives you have to work with. Many builders will offer $10,000 in options or incentives, $5000 in options or incentives, $15,000 in options or incentives, etc.
Know how the incentives are structured. Often certain monies for incentives are given for settlement charges only.
Start with the base home and begin adding your wish list upgrades in priority: using the builder incentive monies as a limit.
Evaluate what you have and what you still want.
Take a good hard look at your Wish list. Should changes be made at this point due to price of certain upgrades, or the upgrade being structural and a necessity at this time?
Rearrange and work with the list. Decide what stays on your Wish List, and what comes off.
Once satisfied with the home and upgrades you have your home!
If there are more upgrades you want, take a look at the cost. Should you add this in and increase the sales price? Do you want to do this upgrade later?
Always keep in mind what you have listed is a Wish List. Don't walk away from a home you love just because you can't afford the model home's upgraded carpet. You will be replacing the carpet eventually anyway.
Evaluate what you will be replacing in the home first. perhaps the standard faucets will suffice for a few years and will be easily replaced. If you want something structural perhaps now is the time to do it.
That double head shower just might be worth the price in lieu of upgraded carpet and moldings in the bedrooms.
And remember....real estate is negotiable. Ask an Agent.
You want agent representation when buying from a builder.
Blooming for you!
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