Part of the dream of becoming an adult is owning a brand new home to start building a life in. Although less and less people are opting to buy, at least in the real estate trends in the United States, there still are a lot of folks considering a new home. There is just something nearly irresistible about the idea of customizing a home, not to mention the appeal of no one ever living there ever before.
Like any major purchase, there are a lot of nuances in the process of buying a new home. A big problem many first time buyers encounter is the temptation of add-ons. Granite countertops, enormous bathrooms, stone fireplaces and a spa all sound lovely on paper, but it will add onto the advertised price in ways you could never imagine. Sometimes these add-on increase the cost of the new home from 5% to 20%. Then when it comes time to re-sale, buyers may not always desire to pay the extra for these luxury items.
If you still want to consider getting add-ons, here are some general tips that will guide you in the right direction.
- Start With Practicalities
If you are thinking of re-selling anytime soon, then it is imperative that you keep what would be of value to the next buyer in mind when choosing add-ons. While a spa may be nice for your lifestyle, there are many more practical add-ons to consider. Trimming, electric outlets, fenced yard, heating/cooling, new windows and that sort of thing are all great re-sale items.
- Find Out What Is Included
Don’t just look to see what they offer at their samples, but actually read the fine print to find out what is included and what is not. A lot of developers will include clauses that exempt them from matching the same standard of quality offered in their model. This is extremely misleading of course, but that doesn’t stop them from doing it. One big scheme that many try to get away with is not offering the same brand of appliances as shown in the model homes. Be wary!
- Make Them Include More
Well you can’t force them to give you anything, but you can negotiate for them to add-on more things. For example, if you buy an extra item or two, ask them to include in another feature. This is a great way to get a bunch of stuff for free, and there is a lot of room at the bargaining room at the table. For developers throwing in nicer appliances will not ruin the enormous profit they are making off of building you a house, so remember to keep the size of the purchase in perspective.
- Don’t Be Afraid To Price Around
Not all builders are created equal. Some are just out to make a quick buck by turning over poorly-made houses with cheap materials. The last thing you want to do is buy a poorly made home that forces you to upgrade with repairs and substitutes. Also, if the developer is being unreasonable at any point, don’t be afraid to walk.
- Get It In Writing
Always, always, always get all of your verbal agreements in writing with the developers. I do not care how friendly they seem to you. There are so many people that relied on the word of a developer that ended up getting in a bad situation. Ultimately these are tricky sales people who are out to make money on customers who probably will not be returning anytime soon. Due to the nature of their market, they often do not have to worry about customer satisfaction. Don’t become a victim of this mentality!
- Sleep On Any Major Decisions
Often we can be pressured into making on the spot decisions by sales people. This is not a good way to go about business, but especially not something as vital as building a new home. If you need time to think about an add-on or anything else, don’t be afraid to say you need to sleep on it or whatever. They may still try to urge you forward, saying the deal may not last, but that is usually just a bunch of hype.