Save money when purchasing new construction

Partnering with the right agent is essential when shopping for new construction, and is here to help you navigate through your options in the North Kingstown area.

In real estate, negotiation is always an option. However, with new construction, it depends on the builder and how long the home has been available. Developers in new additions like to keep prices near their asking point because homeowners 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 builder will often allow a few concessions.

For example, if a home 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 completed, don't count on being able to get a deal.

In situations where a builder won't budge, ask for assistance in other areas. Ask for them to pay a share of the closing costs, or more amenities, like appliance upgrades, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. Or take the contrary route. If a home is nearing completion, you can often save money by passing on suggested upgrades from the builder and installing things yourself.

While you should always negotiate a home warranty so problems can be fixed, it's also imperative you get a home inspection before closing. Inevitable problems can be repaired (by the builder) before you move in and larger issues identified before it's too late. Since an inspection is relatively inexpensive, some new home buyers get an inspection after being in the home for 10 or 11 months - that way, the builder can make the repairs before a 1 year warranty expires.