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Old 02-10-2011, 06:46 PM
 
4 posts, read 7,003 times
Reputation: 10
Default Questions on building a home in terravista

This is probably a stupid question but forgive me because this will be my first home. I am interested in building a home with Lennar in Terravista. I was wondering if the realtor gets comission if you build a home. If anyone experienced can give me some pros and cons on building home vs buying a built/used home. Any info would be useful.
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Old 02-10-2011, 11:21 PM
 
Location: Round Rock, TX
39 posts, read 42,185 times
Reputation: 19
Not a stupid question A lot of people do not know that answer.

Realtors can and often do get a commission if they represent a buyer for a new home. What most people do not know is that this does not affect the home builder's willingness to negotiate on price or incentives. Home builders appreciate the business that the realtors are bringing and consider the commission a cost of selling their home (just like other sellers).

New:
New is new - no one has ever lived in it
You can choose your designs (if you want granite counters, you can choose the color)
Builder incentives - free upgrade to stainless steel appliances or pay for your closing costs, for examples
You'll generally pay more for a similarly equipped resale
You can pick your own lot (some have premiums)
You will probably have very minimal landscaping (young trees)
Turnkey (move-in ready)
Sometimes in new subdivisions where the landscape will change within 5-10 years

Used/resale:
Better bang for your buck
Will have wear and tear (even if it's a little)
Pay ~$400/year for home warranty
Lots of homes to choose from these days (buyer's market)
May need to re-paint, re-floor, fix things, etc.
May need to update it if it's an older home
Usually in a more mature neighborhood (with more mature trees)

Those are some of the differences I could think of. Hope that gives you a good start!
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