As a Realtor, I get solicitation and information from Indiana home builders on a regular basis. I have also worked for a builder during my time in the real estate industry and learned many of the secrets they don't want you to know.
Buyers can currently receive huge advantages from home builders on their "market ready" or "spec" homes. These are the homes they already have built and are ready for immediate move in. These builders run a business; and the longer a completed home sits empty the more money they lose, so to try and avoid that loss they will attempt several different strategies to sell the homes which can create huge benefits for the buyer.
Here are some of the benefits I have noticed recently:
- Ryland- Has select homes up to $80,000 off the original price, most have seen price reductions around $20,000-$30,000, but some of the high end homes have had drastic reductions.
- MI Homes- They have a 4.7/8% fixed rate mortgage available to homeowners that meet credit guidelines
- Beazer Homes- Market ready homes have been reduced by $20,000 to $100,000 off
If you are currently looking to
buy a home,
contact me today to get more details regarding these incentives. Most incentives have specific requirements that must be met to achieve these savings and there are also many other factions you must consider before buying. One of the biggest factors is in regards to resale of the home you buy. You must closely evaluate the community in which the home is located. If the community is brand new it may take years before it is complete and you no longer have to worry about competing with the builder when it is time for you to sell. This can really hurt some homeowners, because most home buyers would prefer a new home over a used home. You must also be fully aware of the property tax implications of buying a newly constructed homes. Many recent foreclosures are due to uninformed buyers who purchased new homes due to property taxes.
Negotiations with a new home builder can be very tricky, they negotiate home sales on a regular basis and most home buyers will benefit greatly from the expertise of a qualified professional. There is a misconception by most buyers that they can get a better deal if a Realtor is not involved. While this may be true in some situations, it is not the case in most. Builders work hard to establish good relationships with the Realtor community and have already factored in the cost of paying those professionals into the cost of the home, if you don't use one- it just means they are able to profit more on the transaction while you lose valuable negotiation power and knowledge of the process.
If you are considering buying a home in the central Indiana market
contact me today to find out how
you can also earn up to 1.5% back on the price of the home via Honeycomb's new construction rebate program. If you buy a $150,000 home you would receive $2250 back at closing to use for your new home or other needs. Remember, the more expensive the home: the greater the rebate! There hasn't been a better time than now to buy a new home in central Indiana.
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