Reasons why you should use a Realtor when buying a New Build

Recently, I’ve been talking a lot about new builds and why they are an amazing option for Colorado home buyers right now. With the incredibly tough market we’re experiencing, new builds are an opportunity for buyers to get the home of their dreams without the stress of bidding wars, offering over asking and waiving important aspects of the process, such as the home inspection or appraisal.

Now yes, new build communities do have sales agents, but do you think their goal is to protect you as the buyer? Definitely not… their job is to make successful sales and act in the best interest of the builder.

This is why you absolutely want to have someone representing you specifically and looking out for your best interest. And the best part? The commission for your agent is FREE to you since it’s paid by the builder, the same as in the traditional housing market. So… why wouldn’t you utilize a free service designed to protect you?

So, with that said, let’s jump in to a few of the top ways having a realtor on your side helps you secure your new build AND a great deal.

Negotiations & Finance:

Did you know purchasing a barn door through the builder is considered an upgrade and will cost you four times as much as Home Depot charges to install the exact same door? The same goes for the “extended” patio option that you’ll be offered when you’d be better off going with the standard patio size for the community and then having a contractor pour a cement slab later. You will literally save thousands of dollars if your agent is knowledgeable regarding home renovations and can advise on pricing.

Loan value is another area where the builder’s agent will steer you toward what benefits them most. Many builders are currently offering customers up tp $15,000 as credit toward closing. However, that credit can ONLY be used toward closing costs, which are typically only around $7,000. A lower interest rate can often be secured by an outside lender and will save you significantly more money in the long run.

Resale Value:

Some of the most common questions I receive when assisting a client with purchasing a new build is how will certain decisions and upgrades affect resale value down the road. It’s an excellent thing to keep in mind when designing your home and making sure your maximizing where you’re spending money.

Is the extra insulation upgrade to the your garage worth the cost? The short answer is no, but it’s a high priced option that builders suggest during the upgrade selection.

Should you spend the money on upgraded cabinetry in the laundry room? I certainly wouldn’t and it’s not something a future buyer will ever notice or take into account when determining the value they’re willing to pay for their potential new home.

Final Walk Through & Post Inspection:

As you approach the final stages of purchasing a new build, you’ll be given the option to complete a final walk through and have an inspection done. This is a critical time to make sure the builder’s work is up to standard and what you agreed upon during the contract phase. A realtor can help you review all the aspects of your home and make sure the builder makes any necessary repairs or adjustments prior to your move in.