How to bargin with those builder for new constructions (Fishers: sales, appliances)

[springwinter]

Hi,
Can anyone share the experience? It's our first time to buy a home.
I heard that builder usually doesn't want to reduce their price, but they can give you free upgrades. What should I ask for? How about a well finished basement...

Can I ask them to reduce the price?

[rrah]

A lot depends upon what type of builder you are speaking about? Is this a larger builder such as Pulte or Centex or a smaller (one-10 homes a year type) builder? Depending upon the size of the home a nicely finished basement can be pretty expensive, and it seems to me pretty unlikely any builder would go for that. Large builders are generally more likely to throw in things like appliances or upgraded carpet or a free basement. (or at least they tell you it's free) They might tell you the carpet/flooring upgrade is worth for example $3000.00 The reality is the upgrade only costs them a small fraction of that amount. Don't be swayed but what they tell you the upgrade is worth. Use common sense and shop around a bit at home stores to determine the real cost of the upgrade. My husband and I have built 3 homes--one with Pulte years ago, one semi-custom, and one custom home. I found that the large builders charge outrageous amounts for upgrades such as electric for ceiling fans or extra phone outlets. I recently heard of a $150 charge for an extra phone outlet. I know my last two builders charged far less than $30 for that. It's one of the ways large builders make money.

I would suggest going in, know what you want in the house, and what you want to pay, then go for it. The worst that can happen is they say no!

[domergurl]

Just a suggestion, look and see what's already available. There are many homes on the resale market that you may be able to get cheaper than buying new, and in some cases, those houses are better built. We built our first home in Chicago and although we loved the house, we felt like the builder was in the driver's seat the entire time. Plus, even though everything was nice shiney new, we still ended up putting a lot of our own money in for personal touches .. paint, landscaping (costs an arm and a leg and builders won't do it in most cases) ... decks. Use what's available on the market and see if a builder can match it.

[Southside Shrek]

several large builders in the Indy area are desperate to unload their homes. Be a smart Buyer in this market and use all the leverage you can. Remember, you have the money and they want it. Make them stand up on their hind legs drooling out of both ends of their mouths and bark for it. Then tell them to 'roll over'. Be in control of the deal and don't give in.

[Happy Home]

Be careful about purchasing a home and getting a BIG discount. That will cause you problems in the future. It may seem like a great DEAL now, but when someone comes in next week and gets an even better deal, you are screwed. Your equity just went flying out the window. Choose a builder who has reasonably priced options and ones that require little upgrades, not the ones where everything in the home has to be upgraded. Steer clear of Centex, we sold a home and took a $25,000 hit because they had done such deep discounting after we purchased ours. Our sales person assured us that we were getting the best deal! HA!

[domergurl]

We bought a resale Centex home 4 years ago in Fishers and MADE money when we sold it this spring ...