Welcome to the world of new construction home buying, where each step is an exciting opportunity to create your dream home! As your trusted residential home builder, we’re here to offer you essential guidance on making this journey as smooth as possible for your buyer. In this guide, we’ll explore some key strategies to ensure your new construction purchase is a success!
1. Partnering with Your Buyers
Many builders have their own agents who work in the model homes, but they may not represent your buyers’ interests. To ensure your buyers are protected and properly represented, it’s a good idea to visit model homes together. This allows you to register your buyers as your clients, ensuring you have a stake in the transaction. Additionally, touring the model home as a team offers you the opportunity to gather firsthand information and insights.
Visiting model homes gives you the chance to learn more about the builder. You can get a sense of their reputation, the quality of their work, and their attention to detail. This knowledge is invaluable when guiding your buyers to make an informed decision about the right home for them.
2. Understanding Standard Features and Upgrades
Model homes often showcase a wide range of upgrades and options. To help your buyers make sense of what’s included in the base price and what comes at an additional cost, ask the builder for their Standard Features list and inquire about upgrade options. This ensures your buyers have a clear understanding of what they’re getting for their money.
During your visit, pay special attention to significant expenses like flooring, countertops, landscaping, appliances, and fencing. These items can substantially impact the overall cost of the home. Knowing what’s included and what’s considered an upgrade can prevent unexpected costs down the road.
3. Spec Homes vs. Pre-Sale Homes
It’s crucial to differentiate between Spec Homes and Pre Sale Homes. Spec Homes are designer-curated properties that are built out and offered for sale when they’re near completion. They’re often referred to as “Quick Move-In Ready” homes. Pre Sale Homes, on the other hand, allow buyers to personalize their new home by making selections and sometimes choosing structural options. Be aware that Pre Sale build times can be longer, sometimes up to 8 months, so starting the home-buying journey early is essential. If your buyers opt for a Pre-Sale Home, it’s crucial to inform their lender. Extended rate locks may need to be discussed, so keeping all parties informed and aligned is essential to a smooth transaction.
4. Leveraging the Listing Agent’s Expertise
Don’t hesitate to reach out to the Listing Agent for more information. They are the product experts and can provide invaluable insights into the builder’s offerings. They may also have knowledge of upcoming available homes that aren’t on the market yet. Utilize their expertise to help your clients find their dream home.
In conclusion, accompanying your buyers on model home visits is an essential part of the home-buying process. It allows you to protect your clients’ interests, gather valuable information, and ensure they make informed decisions. By understanding standard features, upgrades, and the builder’s reputation, you can guide your buyers towards finding the right home for them. Always remember that communication and collaboration with the Listing Agent are key to a successful home-buying journey.