Are you thinking of buying a new construction house but worried about the cost? As a real estate agent I have helped many people buy a new construction house and I've come to realize there are a variety of ways to save money when buying a new construction house. Stay tuned as I break it all down for you!
Hello friends, Alejandra here your local AZ real estate agent.
This blog is all about living in Arizona, moving here and real estate. So please like, comment & share if you haven't already. If my team and I can answer any questions about real estate, or Arizona just reach out by going to Zoomtoarizona.com and you can book a call with us!
Alright lets dive into these tips so you can save some money when you buy your new construction house.
And remember when you buy new construction it is highly recommended that you have your own real estate agent to guide you and help you on your purchase. And if you don't already have an agent I would love the opportunity to help you!
Tip 1: BUY INTO THE COMMUNITY EARLY
Buyers who build in the community early tend to have built-in-equity by the time that they close on their new home due to the natural price increases with new construction. Almost every month the builders have price increases I've seen them as low as $2k to as high as $20k a month. So by the time you close on your new house the same house will be selling at a higher price as it is now worth more.
Translation: your home will likely be worth more than what you originally signed for once its finished.
Tip 2: MINIMIZE THE # OF UPGRADES
For homes that you get to customize with options review the list of extras being offered while touring the model home and see what you are okay with passing on.
Get the big ticket items now. Especially structural changes such as (fireplace, three car garage) as these would cost more if you do do them down road. Do pass on the easy upgrades and add them later (backsplash, lighting). When my family and I bought our new construction house we had all the electrical items wired especially downstairs but planned on buying our own lighting and my husband installed it for less. Of course when you do that you will need to wait to close on the house before you can actually do any of the work on the house. So what you do is select the free basic options.
Tip 3: BE FLEXIBLE ON YOUR HOMES LOCATION
Accept a lot that is not in a prime location within the community. If you don't mind if your home is situated not not near the community pool or not a corner lot hen this could help lower the price and it won't affect your quality of life while there. Most home builders charge a lot premium and they tend to charge a higher amount if the lot is nicer or bigger. For instance, corner lots tend to have higher premiums.
Tip 4: FIND OUT WHAT BUILDER INCENTIVES ARE BEING OFFERED
Incentives are promotions that builders use to attract buyers and they may include money-saving options like closing costs or buying down the interest rate with a 2-1 rate buydown. Some of the builders are even offering below market interest rates. Something to keep in mind is that the best time to find incentives is near the end of the year. That's because there are less buyers during that time. As most buyers are focused on the holidays and don't want to worry about buying a new house. But honestly this is THE best time of year. This is also true for buying a resale house.
Tip 5: HIRE AN AGENT WHO SPECIALIZES IN NEW CONSTRUCTION
Not all real estate agents have experience or knowledge in new construction and it is a different experience than buying a pre-existing home. Look for agents who have received additional training in new construction their expertise alone can save you money. I would love the opportunity to help you with your purchase. I am licensed in AZ but I am connected with top agents all across the US so wherever you want to buy your house my team and I can help you.
To easily book a call with us go to Zoomtoarizona.com I hope you have found value in this video, if you have please like and subscribe to my channel that way you can stay connectd and know when the next video comes out.You'll want to watch the next video where I break down the entire process of buying a new construction house from start to finish.
Thanks for taking the time to read and I’ll see you on the next blog!
Alejandra Paladino (Arizona REALTOR®) eXp Realty
Cell: 480.382.0519?
Email: alejandra@azalejandra.com ?
Website: www.azalejandra.com
https://www.instagram.com/moving2arizona/
https://youtube.com/MovingToArizona
If you’d like to connect with me, check out the links below:
1 - Book an appointment with me: http://zoomtoarizona.com
2 - Download my free buyers guide: https://bit.ly/AZbuyerguide
3 - Download my free new construction guide: https://bit.ly/AZnewbuildguide
4 - Download my free relocation guide: https://bit.ly/AZreloguide
5 - Download my free sellers guide: https://bit.ly/AZsellerguide