Thinking of building a home?
Here are some things you should consider . . .
A home is probably the largest purchase you will ever make. So you should give careful consideration to getting the house that best fits your lifestyle. One option is to consider building a new home. There are many quality homebuilders in Central Ohio with many floor plans and options to suit your needs. Whether you are thinking of a condominium, your first home, next home or your last home, Columbus area builders will have a floor plan and pricing to suit your needs.
Teresa is your guide to building a new home
With hundreds of builders, floor plans, communities and spec homes available, Teresa is your one-stop shop to sort through the maze to find the right builder, floor plan and community for you. You can rely on Teresa to find the new home that meets your needs, lifestyle and budget.
Why should I use a Teresa to purchase a new home?
The advantages of having Teresa help you purchase a new home are the same as those for purchasing a resale home . . . . knowledge of the market, help in finding the perfect home quickly, expertise in contract writing/negotiation, and closing assistance. The builder has a professional representative watching out for his/her needs, and you need the same expert representation.
Buying a new home is a little more difficult and time-consuming than buying a resale. Teresa can professionally guide you through this process. Teresa has experience working with builders and has access to a database of information about subdivisions, floor plans, etc. Teresa is also familiar with new home warranties and builders' purchase contracts. Her own father was a custom builder in the Gahanna area.
During her career, Teresa has sat on both sides of the builder's sales desk. She knows how builders work. She can represent you in leaving no stone unturned in the building journey. If a new home is right for you, choose Teresa to be your consultant! She will guide you through a smooth path to the completed home of your dreams. And, just as buying an existing home, there is no cost to you for this service. The builder will pay your fee.
It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or build-to-suit home. These transactions are complex and the contract details must be exact in order to protect you and to ensure you get exactly the home you want!
Teresa will also help you arrange the best financing to fit your financial goals and budget. In addition, you will be given information on neighborhoods and schools of the areas you are interested in. Most importantly, you will be provided dedicated, personal service on your travel throughout the home building journey.
Is there any advantage to not using a Realtor to purchase a new home?
No. There is no financial advantage for you to buy directly from the builder. Builders have a “single price” policy, meaning you will be charged the same price whether your interests are represented by a Realtor or not. Just as in any resale, the Seller pays your Realtor’s fee.
Builders in the Central Ohio area depend on Realtors to bring buyers to their homes. As much as 95% of builder sales come directly from Realtors. If builders rely on real estate professionals to sell their homes, then why wouldn’t you, the buyer, take the same precautions in assuming yourself the best service and expertise in making this important decision?
More powerful reasons to use Teresa to represent your new home purchase:
Market Value Compared to Purchase Price: How much money are you going to be able to come out of pocket for your down payment? If you don’t want a nasty surprise when it comes to disparities between your agreed upon purchase price and the actual market value of the home, you’ll want an agent with access to information which will help you accurately assess the true value of that brand new home.
Negotiation Power: Real estate agents are professional negotiators, and often an agent can get more from a builder than you would on your own. While some of this might be related to purchase price, other perks may include property or home upgrades.
Financing: It’s probably no surprise that your builder will have preferred financing partners to work with. Many of those “partners” pay good money for the opportunity to handle your loan. But is it the best loan at the best rate and terms? An agent can be both a sounding board for financing terms and a source for trusted alternatives.
Contract Expertise: While your real estate agent isn’t an attorney, they know a great deal about the ins-and-outs of property contracts. This includes builder’s contracts, which may have provisions that put you in dicey territory should something unforeseen happen. Protect yourself with an agent.
These four reasons are a good place to start, but there are plenty more. The bottom line is: The builder will have their own system in place to maximize their profit and minimize their costs. Shouldn’t you?
REMEMBER -- the Builder requires that YOUR Realtor® accompany you on your first visit to the Builder's sales office or they will not honor your representatives fee!
This article originally appeared in the Denver Post:
“Should You Use a Realtor When Buying a New Home?
YES!” Think of planning a trip to Europe without the help of a travel agent, or how about buying insurance without an insurance agent? Then imagine being involved in a major league business dispute, and you’re representing yourself in front of the judge and jury. If you depend on people in the service industry for travel needs, filing a claim for hail damage to your roof, or handling legal matters, then why would you want to represent yourself in the most expensive and probably most important purchase of your lifetime...your new home?
It is a common conception that buying a new home directly from the builder, without the assistance of a Realtor, will save you money. Not so! The price of a new home is the same whether you have a Realtor or not. Since this is the case, common sense would tell you to utilize a professional to help you with contract negotiations, researching bans, or helping you to decide which lot is best suited for you!
Phyllis Sinclair, a broker associate, has been on both sides of the fence. For 10 years she represented builders as an on-site salesperson. During the past three years she has represented both buyers and sellers in resale and the purchase of new homes. Sinclair sums up new home sales as, "A one price policy . . . buyers receive all of the services and don't pay extra for them, but they also don't receive any discounts. I always felt concern for buyers who weren’t associated with a Realtor, as they didn’t have the support system they deserve in such a major lifetime transaction.
In our current, fast-paced real estate market, there are many new home communities to choose from. You need to ask yourself some pertinent questions when looking for a new home. Is this a good builder? Does he have a solid reputation, years in business, etc.? How does the quality of his product compare to that of other builders? What are the existing inventories of the various builders? How do builder models meet your needs (floor plans, square footage, and location)? If I sell in a few years, what upgrades should I include to be competitive?
When you find the answers to these questions, ask yourself if the time spent in researching these answers was time well spent - put a dollar value on your time. Real estate professionals can be a valuable asset in collecting information in areas which may affect your decision on the purchase of a new home.
Let Teresa put her knowledge and experience in the new home business to work for you. Call today for a no obligation consultation to get you on the path to building your dream.
Contact Teresa today for information on Central Ohio’s leading homebuilders and areas available.