Welcome to my “New Home Construction” blog. I want to provide you with a little background about myself. I have worked with new construction developers and builders for the last few years and wanted to share my experiences by taking you step by step through the buying process of a new built home.
Let’s start with the basics. The first step is to identify a location where you would like to call your next home. Once you have located a desirable location, it’s time to start doing a little research.
I would recommend that you search for the builder online, to see if they have posted any information or if there’s a registration page. If you are unable to locate the information online, I would recommend visiting the City Planning office of the neighborhood that you are looking into buying your new home. The City office will have the latest information on any of the new construction project and will have a general idea of when it will start.
Buying a new home from a builder is different than buying a previously owned home. One of the most common statements I would receive from buyers that are looking for a new built home is “it’s all about the final number.” This statement would mostly come from the savvy buyer that has purchased a new home in the past. This statement is beneficial information for the first-time new construction buyers. Here’s why: all builders have sales goals and dates to meet.
Having an idea of the sales goals and dates, will work in your favor. Most builders have an end of the year goals to meet. These goals usually need to be met around September and October. Some builders have quarterly goals to meet.
The builders will want to close escrow, on what is called “Inventory” homes. These homes are almost complete apart from items that still need to be selected by the buyers, such as flooring, countertops and shower surround. If the builders have not met their sales goals, you may have some room to negotiate some incentives, such as credit for upgrades on finishes or maybe a slight price reduction if you can close on or before the agreed upon dates.
Want to know what the next steps are in purchasing a new construction home? Stay tuned for my next blog, where I’ll be sharing more information about navigating the “New Home Construction” buying process.
If you’re interested in learning more about the new home construction process or curious about what’s happening in real estate market today feel free to contact Maritza Cordero on 323-821-4438.
Martiza is a real estate agent at Pasadena Views Real Estate Team Inc and is available to help with the home sale and purchase. If you are a home seller or are just curious about the value of your home in today’s real estate market, please check out our new service which offers an immediate valuation of your real estate property in seconds. Click on the picture below to access: