RealtyPin.com's Best Tips for Buying a Brand New Home
NEW YORK, Jan. 31, 2013 /PRNewswire-iReach/ -- The Best Tips for Buying a Brand New Home - After the Great Recession gutted the construction industry, you probably never thought you'd need tips for buying a new home for a long, long time! But, according to the home buying experts at Realtypin.com, home constructions are starting to make their way back. So, if you want a brand new home, follow these 4 tips:
1. Get your own lender
The builder will have its own lender, but there's no guarantee that this lender will offer you the very best deal. Even if the builder tries to tempt you with promises of "one-stop shopping", remember that you have to do what's best for you – and that means doing some comparison shopping. Otherwise, you may end up paying more than you have to! However, you may be able to use the builder's lender to your advantage. When you meet with other lenders, tell them what the builder's lender is offering you – and see if they can beat it. By having a firm starting point to go from, you automatically have an upper-hand that buyers of existing homes don't!
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2. Hire your own home inspector
Too many times, buyers assume that "everything is fine" because they're buying a brand new home. After all, if everything is new, what could possibly be wrong with the place?! But unless you're willing to risk finding dangerous and expensive surprises later, you need to hire an inspector to check out the home now – before you sign on the dotted line.
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3. Find out how much your options will cost beforehand
In many cases, buyers get drawn in by great prices – only to discover that those great prices cover nothing but the walls and the roof. Anything else they want is considered an "option" that they have to pay extra for. And, sometimes, those options are really expensive! So, if you don't want to get nickeled and dimed to death, make sure you understand exactly how all of the option pricing works right from the beginning.
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4. Don't be afraid to negotiate
Lots of buyers think they can't negotiate with builders because they're not "traditional" homeowners, but that's simply not the case! Even though the builder is creating this home from the ground up – and may have a dozen other homes on the block – you're still free to negotiate with him. After all, no matter who you're buying the house from, the market still dictates the price! And, in many places, it's still very much a buyer's market.
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