Save money when purchasing new construction

When driving through newer neighborhoods seeking new construction, having the right Realtor on your team can be the difference between a good home buying experience and a bad one. will be your guide when navigating the myriad of new homes today to make an offer on the one that's perfect for you.

In real estate, negotiation is always an option. However, with new construction, it depends on the developer and how long the home has been available. Developers in new additions like to keep prices near their asking point because buyers already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and what the market is doing at that point in time, a developer will often allow a few concessions.

Say a property has been on the market a long time and the builder has a lot sunk into it, then you have some room. The same goes for show or model homes that have been sitting for a while. However, if a home was just finished, it's unlikely you'll get a deal.

You can always ask for assistance in other ways when purchasing new construction. For example, closing costs are one way for you to save without lowering the price of the house. The same goes for amenities - ask for things an allowance for window treatments, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. That can go the other way around, too. If upgrades are already in the plan, see if you can get the builder to remove them - you might be able to install them later yourself at a savings anyway.

Realize that just because a house is brand new, it can still have its share of flaws. Be sure to get a home inspection before purchase so that issues are handled and also negotiate a home warranty. Then, about 10 or 11 months after purchase it's worth it to pay for an inspection and get anything else repaired before the warranty expires.