Who doesn’t like new construction? There are so many advantages to buying a new house. For one, you don’t have to deal with the massive amount of competing buyers bidding on the same home in this ultra-competitive residential resale market. It’s a no brainer right? To be honest, it’s a different animal all together. It has it’s benefits for sure but there are some costs as well that you need to know.
Probably one of the most difficult aspects to new construction is finding all the new upcoming communities and projects that might be a great fit for you. Even though I’m a realtor by trade, new construction doesn’t always get listed for sale on the MLS System (that’s the multiple listing service real estate agents use). So in order to find all the new construction in San Diego, I would be driving neighborhoods looking for flags, searching the internet for new construction, just to find the new homes. Even then, you could still be late and wind up on a waiting list.
Finally I have a solution. It’s amazing, it solved just about all my problems when it comes to where to look and find all the new construction projects. It works for me and it might work for you as well. So it looks like this…
This website is my number one new resource for checking new construction homes and it literally changed my process in an instant. It will probably do the same for you. It’s not like my MLS system were it is strictly licensed real estate agents only. This website is free to use and you see everything just like an agent would.
I’m going to give you a link to the website in just a sec and show you a couple quick demo examples but real quick, let me give you a few good reasons you might want to consider new construction:
The number one reason I think a new home might be the best decision for someone is going to be customization. Although you are not going to be building the home 100% custom from the ground up. Let’s say you want a mudroom (not common in San Diego), stainless steel appliances, granite countertops, hardwood floors, an office, or a multipurpose room to home school your kids? These items can be customized to your specific needs during the design phase.
Warning here, this is were the builders can get you! When you buy a resale home, it’s common practice to make an offer and negotiate (in certain markets, not really San Diego at the time of this recording) to a lower price. With new construction, it’s the opposite. Usually the sticker price on a new home is not negotiable. The real negotiations happen in trying to keep your purchase price from rising to much. This is were a real estate agent representing you can assist. More than likely you will be working with the sales team at a new community or home build. They are knowledgeable and extremely helpful. Just keep in mind they are employed and working for the sellers best interests. If you have your own buyers real estate agent representing you (which is free since they seller pays the agent… yes even your agent), they are obligated to represent you and only your best interests. This can be invaluable in picking out finishes, flooring, that kind of stuff. You don’t want to go to crazy over improving your new home and end up losing money when it comes time to resale. An agent working for you can also give you an idea of pricing versus the rest of the community. Are you paying too much, is it a steal of a deal, are you paying too much for upgrades, that kind of stuff.
Important note: You have to have your agent with you on your first visit to the builder or model homes or the buyers agent cannot represent you in most cases. Its up to you but I recommend using a buyers agent since its free and only a benefit to you.
ENERGY EFFICIENT OPTIONS
This can be big a huge money saver, you can often choose more energy-efficient options. New appliances, new windows, a new roof, etc. These can all help lower your energy costs, which can add up to significant savings over time. Not to mention protecting the environment and reducing your carbon footprint.
LOW MAINTENANCE AT THE START
Just like buying a new car, you should enjoy the benefits of lower maintenance that comes with a newer home. You are not faced with all the wear and tear you would normally content with on a typical resale home purchase. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. With new construction, you’ll also have warranty options that may cover portions of your investment for the first few years. By the way, new home or resale home: Make sure you have a home warranty. Trust me, I learned the hard way.