SOURCE: NAR WEBSITE February 8, 2024
Do you plan to purchase a newly constructed home? It’s an exciting and appealing option. But buying a new home typically entails considerably more steps and decisions than most existing-home transactions.
It’s hard enough to keep up with all the details, much less know how to make the best decisions. Your new home buying experience will be more successful and enjoyable if someone is looking out for your interests.
Builders and their representatives may be searching for buyers to purchase their product, but only a buyer’s representative will be 100 percent loyal to you, providing advice and guidance on:
Builders’ reputations
A qualified buyer’s rep will be familiar with builders’ reputations and references and should be able to help you make a good choice.
Inventory
Builders aren’t obligated to show you every new home they have for sale, much less other builders’ homes. In contrast, a buyer’s rep helps you see the full range of new and existing homes on the market.
Contract review
A buyer’s rep can alert you when a builder’s deal seems one-sided and advise when legal counsel is needed.
Disclosures
Buyer’s reps are familiar with desired property disclosures (environmental hazards, Megan’s law, pests, pollution, etc.) and can help you obtain these from a builder.
Upgrades
Gain input from a buyer’s rep on which upgrades are most likely to improve your home’s resale value, as well as guidance on making sure your home’s price doesn’t exceed its appraised value.
Inspections
New homes are inspected for compliance with municipal building codes at several stages in the construction process. However, your buyer’s rep can help arrange your own independent inspections, providing another level of assurance that any problems will be spotted and resolved.
Financing
Buyer’s reps are familiar with a wide range of financing options. They can advise you on the merits of a builder’s options (if financing is offered) or suggest other lending sources.
A buyer’s rep can alert you to considerations that may not be provided, including title insurance and protection against mechanics’ liens.
Sale of existing home
If your purchase also entails selling a current home, you’ll appreciate having someone representing your interests and coordinating details on both sides of your transaction.
These are just a few ways buyer’s representatives can improve your experience when purchasing a new home. To get the best purchasing assistance, always work with an agent who is experienced in new construction.
Stay up to date on the latest real estate trends.
What is it and is it for you?
Interior design expert Morgan Olsen says these are the fads to watch.
9 Reason's Why Having Buyer Representation Will Make Your New Home Buying Experience Smoother
5 Compelling Reasons To Start Your Home Buying Journey
I am truly passionate about being a Realtor®, which goes beyond assisting people with buying or selling property. I am a listener who cares about the needs and desires of the consumer. I am available to do whatever it takes to help my clients get the information they need so they might make sound decisions that best interest them and their families.