The new homes look so shiny and beautiful, don’t they! Of course the newly built homes that you tour will feature upgraded features such as counters, flooring, and appliances, so the pricing can be surprisingly higher than you expect.
If you are considering purchasing a brand new home from a new home developer, comparing prices with resale homes is like “apples & oranges”. Resale homes can be negotiated DOWN in price. But brand new homes start with a “base price” and go UP due to the upgrades.
On resale homes you can shop for houses priced higher than your budget, knowing that the sellers will usually negotiate lower. But on brand new homes, you will need to shop for a home price that is LOWER than your maximum budget, because upgrades will INCREASE your cost. Keep that in mind when shopping within your price range.
And of course, always visit new home developments WITH your real estate agent.
Read more in our book, "Buy Your First Home", http://tinyurl.com/nrvmgc7.
Image courtesy of debspoons at FreeDigitalPhotos.net
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