Are you ready to buy a home and considering going the route of new builds? It may seem like an easy enough process. You get to call the shots of how you want your dream home to be, but there is a lot of risk when it comes to new construction if you are going in blindly. Unfortunately, it's not as trouble free as one would hope if you don't have the right representative by your side to help with the things that need to be looked out for from a professional's eye. Below, we'll cover some of the many reasons you need (and should want) a professional buyer's agent representing you in the sale. A buyer's representative is on your side and it's their responsibility to ensure you aren't taken advantage of during the transaction and protect your financial interests.
1. HIRE THE RIGHT BUILDER
The most important part of finding an agent is having a professional's perspective to finding a builder with a great reputation. There are many home builders available but no two are the same. By having your own representation, you get to benefit from your agent's network of vendors, lenders, and home builders. They have the industry expertise to connect you with a builder that matches your needs, and more than likely, have already had experience with the builder with a past client. Or, if they haven't worked with a builder you want to use directly, they can gather person-to-person recommendations from other agents to know the expected experience with said builder. They will help you find one, that not only delivers exactly what their clients want, but in a timely fashion.
2. THE RIGHT LOT IN THE RIGHT NEIGHBORHOOD
The lot you choose to go with in a new build can either be a positive to your new home, or detrimental. In the excitement of the process, we tend to overlook important features of a property. It's important to have a professional to ensure you make a purchase that will best serve you. They'll be able to find a neighborhood that best fits your lifestyle and a lot that has a location that works for you. Whether you're single with pets, or a family with children, the lot location can really make a huge impact. Especially when it comes time to selling it in the future. These are important things your agent will be able to help walk you through, so your decisions work in your favor in the long term, as well as now.
3. UPGRADES AND PLAN MODIFICATIONS
Not only will your agent be able to ensure you get the upgrades and modifications that will best suit your lifestyle, but will also help you make decisions that will increase the value of your home in the long term. They are working for your best interest long term, and with an agent's guidance, you can be sure to make changes that end up benefiting you. Additionally, your agent can ensure that you don't spend too much in upgrades that your home is not value comparative to other homes in the area.
4. HANDLING CONTRACTS AND PAPERWORK
Even when building a new home, there is a large amount of paperwork involved in the transaction. Your agent will handle the contract and all of the paperwork, and they will be sure to review it to ensure that it is in your best interest. They will be able to help you break down the best loan types, purchasing processes, and steps to take that benefit YOU, not the builder. They are, after all, working for you. They'll make sure there are no overlooked terms in a builder's contract that could end up hurting you after you move in. Or even during the building process. You want to make sure you have a professional who is experienced with the paperwork and contracts and knows how to make revisions that work in a way that make you happy.
5. NEGOTIATIONS
It is imperative in the purchasing process to have an agent that is able to represent you and negotiate for you. The building process is so much more than having the builder put in your favorite counters and floors. They will be able to get you a price that actually benefits you - not the builder. They will be able to run a comparative market analysis to ensure you are paying a fair price for the property. You don't want to end up overpaying for the home - it could put you in a tough spot when it comes time to sell. They'll also be able to negotiate terms around building time frame, closings costs, and so many other aspects of a contract that you may otherwise overlook.
6. BUILDER'S AGENT REPRESENTS THE BUILDER... NOT YOU
It may seem easy just to pop into an office of a new build or the model home and use the onsite agent. Keep in mind that the onsite agent works FOR the builder, NOT for you. That person will be working to make sure the builder gets the best deal at the end of the day. By having a buyer's agent of your own, you can ensure there is a professional on your side that can walk you through the process and avoid being taken advantage of during the transaction. They will also have a better handle on things when you hit bumps along the way and keep it an even playing field when navigating through the transaction. If you end up working with a builder who isn't holding their end of the deal, your agent will have the power to make connections that ensure the builder holds their end of the contract terms.
7. IT'S FREE!
Many people think that having their own agent representative will cost them additional money when they go to build a home. That is 100% inaccurate. Builders expect to work with realtors and to compensate them for bringing buyers. The price you pay for a new build will not go up because you are using a realtor. It may end up being the contrary and your agent can negotiate a better deal for you than you would have been able to get on your own.
At the end of the day, it is always to your benefit to have your own realtor representative to protect your financial investment and fight for your best interests. A builder has someone working for their benefit... you should have the same.