Closing Costs First Time Buyers 9 Steps to Owning Home

Save money when purchasing new construction

It's key to have a savvy agent on your team when shopping for new construction, and is here to help you navigate through your options in the Naples area.

Gain an advantage when negotiating new construction in Naples with Downing-Frye Realty as your REALTOR - 239-261-2244 x 650

In real estate, negotiation is always an option. However, with new construction, it depends on the builder and the length of time that the home has been on the market. Developers in new additions don't like taking lower than their asking price because homeowners already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and current market conditions, a developer will often allow a few concessions.

For example, if it's a recently completed home, you have little to no negotiating powers. But if the home has been sitting fully furnished, like a show or model home, and there haven't been many offers - then the builder might be willing to work with you. The longer the home has been on the market, the more the builder has invested.

In situations where a builder won't budge, ask for assistance in other areas. Ask for them to pay a share of the closing costs, or additional amenities, like appliance upgrades, a garage door opener, a fence or landscaping, or an extended home warranty.Or take the contrary route. If a home is nearing completion, you can often save money by passing on suggested upgrades from the builder and installing things yourself.

While you should always negotiate a home warranty so problems can be fixed, it's also imperative you get a home inspection before closing. Inevitable problems can be repaired (by the builder) before you move in and larger problems identified before it's too late. Since an inspection is relatively inexpensive, some new home buyers get an inspection after being in the home for 10 or 11 months - that way, the builder can make the repairs before a 1 year warranty expires.

Finding you a new home that meets your needs and matches your budget will be my #1 priority. Give me a call at 239-261-2244 x 650 to begin the search for your new home today.