Builders selling new construction homes in Prosper 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 Prosper. These tips will help guide you though the new construction buying process in Prosper 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 Prosper
Builders in Prosper 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 Prosper 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 Prosper, 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 Prosper.
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 Prosper 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 Prosper. 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 Prosper 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 Prosper you’ll be offered numerous upgrades that could add thousands of dollars to the purchase price of the new construction home in Prosper. 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 Prosper is new, there’s only one way to know with any certainty that it is flawless. By requiring an inspection using a licensed inspector as a condition of purchase, you’ll have the peace of mind of knowing that everything is as good as it appears. If the builder balks at this requirement, remind them that you’re the customer and that they don’t have anything to worry about if the property checks out with the inspector.
You can come out on top when negotiating the purchase of your new home in Prosper without a real estate agent, but it will take some common sense and a willingness to keep your eyes open to some of the tricks that builder representatives will use to encourage you to pay more than you should. That is why you should keep these tips for buying a new construction house in the back of your head at all times.
In our experience in dealing with builders in Prosper we’ve seen it all. If you’ve never before dealt with a builder, you don’t know what you’re in for,. Let us know any questions or concerns you have about the new home buying process in Prosper. It’s always better to arm yourself with the information you need to assess the Prosper new home builder’s recommendations to get you to pay more than you should.
Here are some of the popular Prosper New Home Builders
American Legend Homes
Trophy Signature Homes
First Texas Homes
K. Hovnanian® Homes
Paul Taylor Homes
About Us: Prosper New Home Construction Experts
Are you a first time new construction home buyer in Prosper, TX? If so, make sure you take good note of the above new home buying tips. By taking into account these market suggestions, buying your first new build home in Prosper TX will be much easier and less stressful! If you have not selected a top Prosper, TX Realtor to represent you in your new home purchase, contact me, and I’d love the opportunity to interview for the opportunity to help find you your new construction dream home in Prosper!
If you are planning to relocate to Dallas TX area and are planning to explore areas like Plano TX, Frisco TX, Prosper TX, Celina TX or Southlake TX for new construction homes, contact us. Our excellent Prosper New Construction Homes Real Estate Services provided by top Prosper Real Estate Agents will make buying your new construction home from builder much easier and cheaper. Check out our Prosper Relocation Resources at http://www.nitinguptadfw.com/dallas-relocation-real-estate-agent
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