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The results of a recent survey found that Americans prefer new homes to existing ones nearly two to one. However, less than half of those surveyed said they would be willing to pay a premium for a newly built abode. Because pristine properties are about 20 percent more expensive than comparable pre-owned abodes, the price difference would be a deal-breaker in most cases. The good news is that there are ways to save on these abodes. With that in mind, here are four tips for doing business with new home builders. Tip 1: Get To Know The Seller There's a big difference between buying a house from its builder and buying a home from its current occupant. For one thing, the builder is highly unlikely to have any kind of emotional attachment to the property. In most cases, he simply wants to sell the unit as quickly as possible. As a buyer, it is often a good idea to do a bit of research into past sales. If the units have been selling at a brisk pace, the seller might be less inclined to cut you a deal. But if sales have been slow, he may be willing to negotiate. Tip 2: Don't Negotiate Solely On Price As a general rule, new home builders don't like to lower their prices. Even if they think the offer is fair, they might worry that discounts will set a bad precedent. This is especially true when the contractor has many new units on the market at the same time. Offering you 10 percent off now could result in a decline in future sale prices. It is for this reason that it is often a good idea to ask for incentives that do not affect the price of the property. For example, you might ask the contractor to cover the closing cost or to perform upgrades for free. Tip 3: Get It In Writing Even if you are a naturally trusting person, you should always insist that verbal agreements be written into the contract before you sign it. When included in the document, these negotiated terms will become legally enforceable. Always remember that verbal conversations and handshake deals are not binding. To have any legal weight, the terms must be added to the contract and then be signed or initialed by all parties. Tip 4: Ask For Discounts When Appropriate If you are considering a residence that is still under construction, odds are you will be shown a model home in the housing development. Although these models often include most of the standard features, they may also have a few premium or upgraded ones. In other words, what you see isn't always what you will get. If a builder expects the same price for less expensive features, there should be room to negotiate. That said, the burden is on you, the interested buyer, to find out exactly how much the discounts should be. Once again, you can always ask the contractor to pay for closing cost or upgrades if he flatly refuses to budge on price. These simple tips should help you during your negotiations with new home builders. To learn more about their options for new home builders, Birmingham, AL residents should visit http://www.kadcohomes.com/#!about/c82b.
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