[Lizzie007]

When you are looking at a new development (10 home subdivision) and they give you a price list for the models, is that negotiable nowadays? Do you make an offer like on an existing home or is it non-negotiable?

[emmaproctor]

always negotiable. especially in current real estate market. definitely make an offer below asking but do so with confidence and dont make an unreasonably low one

[Lizzie007]

Thanks. Having never been through the process of new construction, is it then similar to making an offer on existing homes. When they sit down and give you the price list--do you simply write up an offer on it with your agent?

[Rich Lee]

Originally Posted by Lizzie007

Thanks. Having never been through the process of new construction, is it then similar to making an offer on existing homes. When they sit down and give you the price list--do you simply write up an offer on it with your agent?

Yes, assuming that you and they have agents. Do not agree to dual agency/single licensee in this situation. I did, and it was a mistake! If the builder works without an agent, (s)he might have a sales office.

There is one difference to buying new construction: because you are buying something in an incomplete form, a model specification sheet is often referenced in the purchase-and-sale agreement (or binder if in Fairfield County).

Read through the specs carefully. Often, there will be allowances for appliances and flooring. Here is where you have wiggle room. Try to negotiate upgrades at no additional cost OR agree to downgrade to save money. Lastly, those things that we take for granted are often NOT included: paved driveway, walkway, landscaping, etc. Just when you think that you're getting new construction for the price of an existing home, you're not once you factor these things into the equation!

I suggest that you look at some of the other properties that have recently sold in the subdivision by introducing yourself to the owners (without the builder, if you can) and explain that you're a potential new neighbor! Then try to get figures on what these folks paid by going to the towns assessor's office or by asking your agent. (If these properties were listed, any agent should be able to get you that information.)

FYI: If you are working considering new construction, I strongly recommend the following: additional lighting and bathroom electrical outlets. Each room should have a ceiling light fixture or ceiling fan. Each bedroom closet should have a light. Each bathroom should have four outlets (2 sets of 2) for hairdryers, electric razors, electric toothbrushes, etc.