Buy or Build New Construction in Saratoga Springs NY

By
Real Estate Agent with Keller Williams Capital District Real Estate

Buy or Build New Construction in Saratoga Springs NY

Is there more to building new construction that meets the eye?

Building New Construction Home Frame work

Making the right decision when it comes to new construction.  Should I build or buy?

Looking to upgrade into New Construction?  You can buy new construction one of three ways; buying a spec home, having a semi custom home through a development, or build a completely custom built home.  However it is important to not get caught up in the sparkling paint and granite counter tops that makes you forget to negotiate a good deal on new construction.

Evaluate the Pros and Cons of New Construction

  • New Construction tends to be typically further from the city.  Are you prepared to commute.  
  • Are you willing to wait for the perfect yard.  It can take up to 20 years for sapping trees to mature.
  • Do you like the cookie cutter feel of a new construction development?

Evaluate the Neighborhood of New Construction

  • Make sure to check with your real estate agent or the developer on HOA fees and restrictions.  
  • Will the home be cable and internet ready and what company services the area.   
  • Homes in new construction developments tend to be almost on top of each other.  Do you mind the closeness or would you prefer more privacy?
  • The new development may be still under construction when moving in.  Are you willing to put up with the noise for awhile.
New Construction Builders building frameHave a Buyer Agency With A Real Estate Agent
  • Remember the real estate agent that is in the new development works for the seller.  Hire a real estate buyers agent when buying new construction.  A buyers agent will work for the buyer helping receive the best possible price when purchasing a home.
  • The buyers agent must accompany you on all showings in new construction.  Otherwise it is handed off to the sellers agent.
Get the Skinny on the Builder When Buying New Construction
  • Check with the Better Business Bureau to find out if there are any complaints on the builder
  • Ask around for the reputation of the builder
Upgrade New Construction in a Smart Way
  • Builders receive major profits with upgrades because they are able to get the parts and labor cheap.  The markup is huge.  With using a buyers agent.  Investigate the amount of standard features that are included with the home.
  • Builders generally need to sell the home quickly to receive a profit.  If you having trouble negotiating the price ask for some free upgrades or incentives.
Don't Skip A Home Inspection With New Construction
  • Never assume that new construction does not have any defects.  Make sure to include a home inspection in the sales contract.  
  • If possible, have the inspector check out the home during each stage of the new construction process.
Protect Yourself with Home Warranties When Buying New Construction
  • New construction homes come with a implied home warranty. 
  • Ask the builder for a warranty with a time period
  • Protect the warranty with insurance


 

 

 

Comments (3)

Will Handley
Progressive Inspection Service - San Juan Capistrano, CA
Certified Master Inspection Services

Great info Melissa.  Hopefully the residential building industry will begin to improve this year.  Thanks for the post.

Jan 16, 2011 04:12 AM
David Alan Cox
REMAX Dallas Suburbs - Dallas, TX
Get Up, Suit Up, Show Up!

GREAT POST, this is the major problem in our market id that people cant decide if they want previously owned, a spec or build their own.  Once we get past that we are ok but that seems to be the tough decision!

Jan 16, 2011 04:27 AM
Melissa Furman
Keller Williams Capital District Real Estate - Saratoga Springs, NY
Lic Real Estate Salesperson Luxury Homes

Thank you!  I'm glad you enjoyed it.  

Jan 16, 2011 09:36 AM