Purchasing new construction

If you're touring newer developments searching new construction, having the right Realtor with you can be the difference between a good home buying experience and a bad one. will help you navigate the sea of new homes today to find one that's been built for you.

In real estate, you can always negotiate. However, with new construction, it depends on the builder and the length of time that the home has been on the market. 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 developer will often allow a few concessions.

For example, if a home has been on the market a long time and the builder is deeply invested, 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 recently finished, it's unlikely you'll get a deal.

In situations where a builder won't budge, ask for assistance with other aspects of the transaction. Ask for help with the closing costs, or more amenities, like an allowance for window treatments, a garage door opener, a fence 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.

Realize that just because a home 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.