Can you negotiate the price of a newly built home? Let’s say….it can be quite difficult because the
builders’ final sales price is based on the construction cost increases and inventory of homes available for sale. But, it can be done!
Subsequently, the best time to begin negotiations on a newly constructed home, and to have some input into the
final cost is during the planning phase with the new home sales manager. Be sure to have your Realtor
representative there at the initial introduction to the new home development. At this time you will select exactly what amenities, appliances and finishes you would like or don’t like in your new home….Your decisions on the type of materials used and other special options will influence the final sales price. After the initial contract is written the new home sales manager will discuss your selection of options, e.g. cabinets, counter tops, carpet, hardwood floors, finished rooms, etc. It would be wise to have a good understanding of the standard features offered by the builder. Determine if the standard features will accommodate your style of living….You can always replace the carpet with hardwood floors at a later time…..Your Realtor may be able to negotiate some concessions on your behalf. Remember, extra options will be added to the base sale price of the mortgage loan.
Another alternative for negotiating the best price of a newly built home is to wait until the project is completed. Developers may be willing to accept a lower offer on any remaining homes in inventory in order to move on to their next project. This is a risky option because you may miss out on getting the home with the amenities you want and little to say on the choice of amenities like carpeting, light fixtures, finishing a basement or adding rooms.
The sales manager at the new homes sales office may offer some insights into reducing the sales price. Although,
it would be wise if your Realtor would inquire about any additional incentives or terms. Be ready to sign on the dotted line if the sales manager offers some freebies! In my 30 years of real estate experience I have encountered new home sales managers who are willing to offer some incentives …..if you agree to write an offer on the spot.
Contact Adolphus Hawkes Realtors, when you are ready to buy or sell a home. We are here to help you make your
dreams of owning a home come true!
