Your NEW Home - Get the Greatest Potential Return in Resale:

By
Real Estate Agent with RE/MAX 1st Class 0542725

 

 

Your NEW Home - Get the Greatest Potential Return in Resale:

 

  1. Lot size and location: The lot you select will determine a significant amount of the home’s future value.  Your choice should not be based on what the builder needs to sell but what gives you the best return on your investment and meets your individual needs.  Make your selection based on your personal choice and then let me assess it according to how it will appraise in resale in relation to other lots available.

  2. Accompaniment to the design center:  What standard builder features or upgrades will directly impact the home’s future value?  Will the upgrades merely return enjoyment or actually create more value in resale?  Your choice should be based on what gives you the greatest enjoyment and/or return on your investment.  Knowing how these selections impact future value should also be a consideration.  I will analyze the selections you make based on future resale and you can decide if they are worth the extra investment, if applicable.

  3. Get clarity on upfront, non-refundable expenses:  When entering into a new home transaction with a non-represented consumer, builders often do not explain what expenses are upfront and/or non-refundable.  Let me assist you in the process before you sign anything and make sure all of the costs, upfront, non-refundable and long-term, are clearly communicated and understood by all parties.

  4. Get a home price evaluation before you sign:  Builders do not generally know how the market treats its product in resale.  Once you purchase a home, it is your investment.  Let me give you a Home Price Evaluation on the property based on how it would compete in the market today.  This will tell you if the lot, floor plan, and your selections will most likely retain value in relation to the current market.

  5. Get the best loan for your needs:  Builders often offer monetary incentives to work with their mortgage company and this may not be in your best interest.  Let’s compare the builder’s incentive with the actual mortgage product as well as other products available on the market that are competitive.  You may pay more in mortgage closing fees than the actual builder incentive is worth.

  6. Watch for those appraised values:  A builder often gets his mortgage company to qualify you based on the assessed value of the unimproved property.  When the property gets reassessed with the improvements of a home, the increase in taxes can place a tremendous financial strain on a budget based on a lower tax assessment.  Let me review property taxes in the neighborhood that have been reassessed with improvements and make sure that you are comfortable with the house payment based on the future tax.  In this way, you know your future obligations before you purchase.

  7. The home is new, why should it be inspected?  The Texas Association of Realtors found in a study that 45% of defects found were present when the home was purchased new.  Your builder should stand behind warranties and guarantees, however, making needed improvements/corrections to the construction after you live in the home or addressing code/repair items after your closing may be costly, inconvenient or at the very least, complicated.  Let’s get a qualified inspector to give you a professional opinion of current condition and potential future problems.  Often, this can result in making a builder bring the home up to a code that although not currently required may become an issue in case of future annexation.  It will either be the builder’s cost or your future cost and you are the one I represent.

  8. Market knowledge:  In addition to the immediate value of the home, there are other important facets to purchasing that should be considered.  When you work with me, disclaimers and disclosures endemic to the area/subdivision, addenda regarding homeowner’s associations, recent information regarding the surrounding community, the local schools, and utility districts, will all be presented and evaluated.  Allow me to guide you through the myriad of local market conditions so you can be an informed homeowner and make the most of your home-ownership experience.

  9. Do you need to sell your current home in order to purchase new?  Clearly, the builder has an interest in the selling of your current home.  You should personally select the Realtor who will be representing you and be wary of builder recommendations, which may come with hidden incentives that do not serve consumer needs.  Few builders know the actual performances of Realtors in resale, and make recommendations that are not based on representing your interests, but their own.  Choose a Realtor whose goal is your highest possible profit and not their builder allegiance.  Allow me to give you an honest Home Price Evaluation.  This gives you a good idea of the equity you will be able to invest.  My service comes with a guarantee and 192 Critical Steps we take to sell a home.  If at anytime you are not happy with my services, you can be released from our agreement.  Never work with a Realtor what will not release you from a listing agreement if you are unhappy with their services.

  10. Home services to save you time and money.  There are many services you need in a new home purchase, for example, moving company estimates, utility connect and disconnect, cable or satellite hook up, and estimates on homeowner’s insurance.  The builder expects you to handle all of these.  Call The Brian Worrell Team for expert advice on everything related to your New Home purchase!

The Brian Worrell Team takes great care of our clients looking to purchase in the Houston Metro Area.  Our job is to be experts for our clients and represent them professionally & skillfully. Call us today- 281-948-7042.

 

Posted by

 

 

 

  
Brian Worrell - GRI, CNE
Bayou Properties Realty  |   The Worrell Team, Realtors
Cell  281-948-7042  |  Fax  832-514-7029  |  www.BrianWorrell.com

 

2015 Top 20 Rising Star of Real Estate Under 40 by HAR
    (Awarded for excellence in Sales, Leadership, and Community Service)
 
Consistent Multi-Million Dollar Top Producer
2011-2016 FIVE STAR Real Estate Professional as listed in Texas Monthly Magazine 
 

 


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© 2004 - 2016 Brian Worrell Team, Realtors in League City and Clear Lake, TX - 281-948-7042. All Rights Reserved. LeagueCityBlog.com.  Bayou Properties Realty.

Comments (2)

Marcia Kramarz
Re/Max Executive Realty - Medway, MA
CDPE,LMC,CBR

Good post - It is a different animal - selling new construction - I'm in the midst of one now - I'm quite surprised at the 45% defect statement - shocking - But I usually recommend an inspection anyway ... thanks...

Sep 24, 2011 01:02 PM
League City, TX - Worrell Team, REALTORS, GRI, CNE
RE/MAX 1st Class - League City, TX

Marcia, Thanks for the comments!  Well, when those homes are sold the second time around, that's when even more items show up on the inspection reports.  I do hear many sellers say "that deficiency has been there from day 1."  But I agree, 45% sounds high!!   Anyway, best of luck to you!  Thanks again for the comments...

 

Brian

Sep 24, 2011 01:24 PM