Builders selling new construction homes in Allen are masters at getting premium prices for their properties, and they do it by killing you with kindness. The methods they use aren’t exclusive to new construction and sometimes it may feel like buying a car at a car dealership.
That is why we want to provide you with a few tips for buying a new construction house in Allen. These tips will help guide you though the new construction buying process in Allen in order for you to receive the most the true price for your new home.
6 Valuable Tips for Buying a New Construction House in Allen
Builders in Allen typically employ friendly, outgoing negotiators to catch you off-balance and convince you to pay more than you should by conveniently finding ways to “help” you get the home that you want.You can avoid this pitfall by keeping your head on straight and following these 6 tips for buying a new construction house.
Appraisal Contingency – Have you considered what will happen if the appraisal for the new construction home in Allen shows the property to be worth less than you’ve agreed to pay? If the comps are too close for your comfort, ask for this contingency. However most builders in Allen, TX will not allow this contingency unless you are using an FHA or VA loan. If you don’t work out this detail in advance you could be required to bring cash to the closing table to make up for any deficiency between the appraised value and the agreed-upon sales price. By requiring an appraisal contingency you can avoid this problem and get a better deal when buying a new home in Allen.
Negotiate in Your Comfort Zone – The new home builder’s sales person will be skilled at the art of negotiation and they will pull out all the stops in order to win at any cost. Negotiating with the builder’s representative in Allen is high-level negotiating at its finest. A good way to throw the negotiator off their game is to negotiate by phone or email. It might sound crazy, but this strategy really works. If you’re not there in person you have the upper hand. You can’t be pushed to make a decision right away, which gives you the convenience of simply walking away from the deal at any time.
Arrange Your Own Financing – A hidden profit center lies in the financing for new construction home builders in Allen. Unless you have cash in hand, you’ll need to get a loan, but you don’t have to use the builder’s lender. Most builders receive a “kickback” from the lender if you utilize their services. Give the builder’s lender a chance to win your business - they will usually offer you some incentives like paying for part of closing costs - but ensure that the loan terms are competitive with what you can get independently.
Do Not Get Too Attached – Most people fall in love with a new home at first sight. An important point to keep in mind is that love for new home in Allen can be expensive – very expensive. Try not to fall in love with a home based upon a quick walk-through. There are many other homes out there that could meet your needs for the long-term. Remember, you’ll make memories wherever you choose to live. You have options, so don’t overpay for your home especially when you’re writing out a monthly mortgage check for more than you should pay.
Make Reasonable upgrades – When making your purchase of new home in Allen you’ll be offered numerous upgrades that could add thousands of dollars to the purchase price of the new construction home in Allen. While you could theoretically accept these upgrades, you’ll likely overpay substantially. Instead, arrange for upgrades yourself by hiring a competent contractor to do the work for you after you buy the house. The quality will be just as good or better, and you’ll save big.
Require Inspection – While the home you purchase from new home builder in Allen is new, there’s