Home buyers in Lake Holiday have a choice between resale homes, or new construction currently being offered by Dan Ryan and OakCrest Builders. While most buyers know they should use a real estate agent when buying a home that is already built, they often think they don’t need one when visiting a model home and considering new construction since they can just speak with the sales representative. There are many reasons you should have your own agent, let’s discuss them.
Your Interests
The sales representative of any builder is there to represent the builders interest. That means they want to get the highest price, the most options sold, and through the contract as fast as possible. As the buyer, you of course want the lowest price, options that make sense at the best price, and you want to make sure the contract protects you. If you rely on the sales representative, your interests will not be represented, you must have your own agent.
The Commission Is Built In
Builders expect that you will have a real estate agent of your own, and so they build the commission they will pay your agent into the pricing of their models. First, that means you do not have to pay your agent anything, and second it does not mean that they will lower the price if you do not have someone representing you. Lowering the price would be bad for their future sales, so you are not saving anything by not having an agent.
Contracts
Builders create their own contracts, and as you can imagine, they are written in their favor because they want to protect their own interests. Having an agent that can explain the details, answer questions and guide you to an attorney if they believe you need more legal guidance can save you from getting stuck in a contract that isn’t best for your interests.
Which Upgrades Make Sense
Your agent can help you determine which upgrades make the most financial sense. Some construction details might be cheaper being completed after you move in. Knowing which is which can save you money in the long run.
Specials and Current Listings
When builders have listings that have been on the market a long time they will often offer discounts, bonuses or free upgrades. Having an agent that is familiar with the sales representative and on top of these deals will work in your favor.
Loans
Builders often want you to use a specific loan company that they are affiliated with, and usually offer something towards your closing costs in exchange for using them. Your agent can help you find other loan packages that could save you much more money long term.
Inspections
Many buyers think that buying a new home will help to avoid construction issues and repair issues that may be present in an older home, but this is far from the case. Builders can still cut corners trying to save money. Your agent will schedule a pre-drywall inspection in order to make sure nothing is hidden before the walls go up. They will also make sure you understand any warranty the builder has and how you should address problems after building is completed.
If you are coming out to look at new construction options in Lake Holiday or the Winchester area, we’d be happy to work with you to make sure you get the best deal possible.