Getting the Best Price on a New Home

Perhaps you find yourself awestruck by the beautifully furnished model in a development that interests you. You love every detail – it is the home of your dreams! And the price sounds quite reasonable for such a gorgeous home.

Now is the time to ask some important questions: What is included in the base price? How much will upgrades cost? How does the lot that you are considering compare with the one with the model home? You many find that many of the features you admire so much are actually considered upgrades, and will cost quite an additional sum of money. Many developers have a “take it or leave it” attitude when the development is new.

You may not be able to negotiate the price of the home, but many of the upgrades may be negotiable. Or perhaps you can save additional money by installing some of the upgrades yourself. Another way to save money may be to use the developer’s lender, because this particular lender will have already approved the project.

You may be able to get a good price on a new home in the development that has sat vacant for some time. Be sure, though, to determine why it has been on the market for quite a while. Perhaps the lot is poorly laid out, or it may be located on a busy street corner. You will have to decide, if there are problems, if they are things you can live with.

Be certain you are dealing with a reputable builder. In the long run, that may be the best way to save money.