You might be thinking about getting a new construction house instead of one that was previously owned by someone. If so, you should know that the entire purchasing process is different. For starters, the house will be completely customized to fit your requirements and preferences, and instead of moving into it right away, you’ll need to wait for at least ten to sixteen months – which is the usual time it takes to construct such a residence.
And, since the entire purchasing process is different, you might be wondering – do I have to hire a realtor that will help me? Simply said, yes you should, and you’ll be able to find the reasons in the article below. Let’s take a closer look at how a realtor can assist you with buying your brand new residence:
1. They’ll Take Care of Your Interests
When you go to the estate agent offered by the construction corporation, they won’t look after your best interest. This is why hiring an independent realtor that’ll look after your interest is wise. Besides this, they’ll also assist you with getting the most value for the most affordable price they can get you and they’ll also make the entire sale process easier, less time-consuming, and stressful for everyone involved.
2. They’ll Understand What’s Incorporated in The Overall Price
So, you decide to tour the model of the house and it completely mesmerizes you, however, the design isn’t the initial price of $600,000 that is marketed, instead, it is $700,000 due to all the upgrades that come with the house. Things such as marble countertops, the newest appliances available, built-in storage units & bookshelves, and so on will only increase the overall price. However, an agent will let you know what the initial cost is and what you’ll be paying extra.
3. They’re Better at Negotiating
Although a lot of people think that they are the best negotiators out there, this might not be entirely true. Why? Well, even if you are, in fact, a good negotiator, you’ll be emotionally connected to what you are buying. On the other hand, a realtor won’t have the same connection, which means that they’ll know exactly what strategies and tactics to use. Also, they’ll know what can be negotiated such as the warranty or closing expenses, which means that they’ll ensure that you get the most for the price you’ll be paying.
4. They’ll Get Everything on Paper
If there are any guarantees made by the construction company, it must be validated in writing. You should never sign any document or agreement without learning everything about it, including what you’re agreeing to and anything else that might be added to the document. If you don’t do this, the constructor doesn’t really have to do what they promised and you won’t have any evidence of what they said. A realtor will guarantee that you get everything on paper and they’ll triple check your contract before you can sign it.
5. They’ll Guide You Through The Inspection
In most cases, a lot of individuals think that the warranty for their new house includes any potential problems that may occur in the future, however, in some situations, it won’t. An estate agent will know a lot of inspectors who will ensure that everything is okay with the building and they’ll also report any potential problems that might need fixing, all of which can easily influence your price and negotiations.
6. They Can Secure Loans
The builder will probably try and offer you financing for the new construction residence, however, is it the most suitable possible option out there? Even if there is the tiniest rise in the rates, it could drastically influence the payments you’ll need to make and the overall cost of the house. But, an experienced realtor will be able to connect you with various, trustworthy lenders, which means that you could compare different rates and then opt for the one that suits your needs best.
7. They’ll Review The Contracts
Do you really know anything about contracts? Do you know how to determine that you’ll get everything that was promised? Do you know where to look for hidden expenses and fees? If the answer to all of these questions is ‘no’, you need to hire a realtor. By doing so, they’ll review your contracts frequently and they’ll help you review it if needed. Keep in mind – you should never sign anything before your realtor can take a closer look at it.
8. They’ll Know Quality Construction When They See it
There will probably be hundreds of construction companies where you live, which is why you might not know which one is the best, nor the quality of the build. But, working with an experienced realtor will know all about the major companies in your area, and more importantly, they’ll know whether or not their work is high-quality. All of this means that you’ll be able to connect with a company that is trustworthy, reputable, and that will know what they are doing.
9. You’ll Save a Lot of Time
There are likely hundreds of residences in your area waiting for potential buyers, which means that you might spend lot of time narrowing down the construction company, location, and house that is suitable for you. On the other hand, hiring an agent that will help you with the entire process will save you time since they’ll know exactly what you are looking for, hence, they’ll provide you with a list of homes that suit your needs and requirements.
10. It is Free of Charge
Yup, you did read that right – all the help you’ll receive from the agent will be free of charge. How is that possible? Well, most builders will pay the commission fee for your agent. At times, it won’t be as much as they would receive when buying previously owned properties, nonetheless, they’ll still look after your best interests. Additionally, they might gain your trust, which means that you might want to work with them in the future as well.
The process of purchasing a new construction home is completely different than if you choose to purchase one that had previous occupants. Because of this and many other reasons that we mentioned in the list above, it might be best for you to hire a realtor that will help you with various things, and know that the realtors at Premier Real Estate can best represent your interests.