If you’re considering buying a home, you’re probably thinking you must involve a real estate agent. It is always a good ideal to use a professional when selling a home, due to the listing process and representation. But there may be times when you might be better off if you opt to buy directly from the developer.
Buying directly from the developer can help you save money and enable you to get the best deal while learning about all your options. . First, you won’t need to pay a commission to a real estate agent. Second, since you’ll be negotiating with the developer directly, yourself — without any middleman — you’ll be able to get the best deal while being educated on all your options. Here are things to consider when contemplating this option.
You Can Add Customizations
When dealing directly with the developer, you can ask for certain customizations or renovations (at times for a cost) that you would want your home to have. This lets you have exactly the home you have dreamt of rather than settling for one that might not fit your expectations or requirements for its interior. Getting customizations done during the building process can be far less costly than retrofitting. Again, you end up saving in the long run.
Plan for a Lot of Prep
You might not be well-versed with all the legalities and paperwork involved when buying a home, especially if you’re a first-time buyer. Without a real estate agent to help guide you, you’ll need to be on your toes and do your due diligence when dealing with the builder. You’ll want to make sure you feel you’re able to deal with any negotiations, price issues or other concerns that might come up in the process. If you have family or friends with financial knowledge or experience in related areas, now’s the time to tap them. Hiring a real estate attorney is always an option as well.
Expect to Go Heavy on “Home” Work
You’ll want to research, read and dig deep for any and all information about the builder’s credibility and reputation, as well as their experience. Check with previous buyers about the construction quality and the process. Was the builder accommodating and responsive, on budget and on time? Also, check to see if the builder has been involved in any legal cases or disputes, or if project delays seem to be part and parcel of their M.O. Obviously, some things — such as bad weather, crew staffing issues or material shortages — are out of the builder’s control.
Know You’ll Be Busy
This isn’t really the case, buyers come out, tell us what they want and we make it happen. There will be a few questions from time if an item is no longer in stock, however we typically email over information for a very close replacement. We may reach out to them a handful of times. Being honest, they reach out to us more than we do them-lol.
Expect to be involved on pretty much a daily basis when you’re buying directly from the developer. A ton of decisions will need to be made throughout the building process, and you won’t have time to dilly dally. Inspections will need to be performed before, during and after the home is built. As the buyer, you’ll need to remain in frequent and active communication with the builder throughout the construction period. This can be a challenge if your schedule is already jammed.
Consider a Model Maneuver
Purchasing the builder’s model home can be an excellent deal. These homes serve as showcase homes for the builder and are often packed with great upgrades and features. Typically, when the community is almost complete or the builder moves to the next building phase, the builder will put the model home up for sale. Technically, these model homes are new homes, because no one has ever lived in them. They’ve served as an office and have had hundreds of prospective buyers walk through and view them, but otherwise haven’t been inhabited with the resulting wear and tear. The one downside to buying the model home is that you generally don’t get to pick the floor coverings, the color of the paint on the walls, the kitchen cabinets, appliances or any fixtures. In many ways, it’s like buying a professionally designed resale home. However, these gently used model homes are typically a pretty good deal.
So, there you have it. If you know what to expect going in, buying directly from the builder can definitely have big benefits, however finding your comfort level is the most important aspect to consider.
