Building a new home can be so exciting, especially in a development you really love. Hi I’m Michele Shinedling Owner/Broker at Heritage Real Estate, and I want to share with you a few great questions to ask at your first appointment with the builder. By the way, you should always bring your Realtor along on your first visit, or the later builder may refuse to work with your Realtor. The builder pays for your Realtor to represent you and there is no reduction in price for not having one represent your interests. So bring your Realtor to cover all your bases, level the playing field a bit, and have someone helping you with the details. Ok, smart questions to ask: Are the taxes increased for the area? Are there HOA dues? What allotment is there for upgrades, if any? Remember, the model home you see is packed with upgrades. If you fall in love with it, be sure you understand what the most common upgrades will cost you and what the most common upgrades are. Your Realtor can help you select upgrades that will improve resale value down the line. Upgrades can cost you $30K, $40K, $50K or more, and some upgrades don’t yield you a better sales price for resale.
Does the builder have a relationship with specific lender who may be able to offer you incentives? Sometimes a buyer can receive perks by going with the builders preferred lender. Often the builder will not mention this up front, so we to ask. Are you planning on a corner lot or being near a park? Ask if that lot incurs a lot premium. Can you have a third party inspection? I always recommend that you do. Will you be building in an initial phase or a late phase for your area? This impacts whether you’ll be living amid construction noises for the next few years and also, typically homes that are in the earlier phases of the development will see higher increases in equity than homes being built further in the building phase. There are so many more important questions to ask so you can go into a new construction purchase with a clear eye and a solid idea of what to do. up in the excitement and it IS exciting! So let’s make sure we stay on top of the process every step of the way. Oakland County has a lot of really cool new build neighborhoods going up right now. We’ll help you find the right one! Give us a call and let’s go check some out. This is Michele Shinedling Broker/Owner at Heritage Real Estate. As always, make it a great home buying and selling day and remember, when you do what you love, people love what you do!