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Very annoying. Especially since I want to lock in a rate. Why bother telling folks in the beginning it take a year if you are not even going to come close to delivering.
I can understand. With rates inching up and the huge price tag for these houses, I am sure you must be having a lot of sleepless nights.
I there a out in the contract, say if the builder does not deliver the house in 12 months you can cancel the contract and get a refund of you deposit. Maybe you can use that to get some concessions from the builder. But from reading this thread, looks like the guy at the sales center is not pleasant to deal with. That and the fact that real estate prices are going up, there might not be many options.
Gharhamara - Typically the first step is to identify the lot you want and to put a deposit down (a few thousand dollars) to hold your lot. Then you would agree on price/upgrades with the builder and move forward with a contract, once you do that you would put the remainder of your down payment down (typically between 5-20%) with the balance being paid upon completion (avg time for a normal community is 6-8 months but this builder tends to take MUCH longer.. I would plan for 12-14 months)
Also for anyone reading this thread who is thinking of buying new construction - it's very important that you guys know you have the right as a buyer to be represented by a Realtor at NO cost to you. Buying directly from the builder is doing yourself a disservice and not protecting your rights fully as you are entitled.
Also for anyone reading this thread who is thinking of buying new construction - it's very important that you guys know you have the right as a buyer to be represented by a Realtor at NO cost to you. Buying directly from the builder is doing yourself a disservice and not protecting your rights fully as you are entitled.
This is only half true. Buyers usually negotiate the price of the house and the builder typically provide extra discounts/upgrades to those buyers who come in without a realtor. I am not saying that everyone should buy without a realtor, but ultimately in every real estate transaction, the buyer is the one who comes with $$ at the closing table and he is paying for everything.
Thanks for your inputs so far. It's been very helpful. We're now in the process of working with the sub contractors (esp the kitchen folks). It is very disappointing to find out that we're not liking the brands that they carry. Wondering what kind of experience others had. Any brand specifically that you would recommend / would stay away from? Did anyone switch sub-contractors? If so, any recommendations?
Only issue I have had with some sub-contractors is their responsiveness. Hard to get a hold of them at times. I would also amend the above timeline to more like 14-16 months delivery. Not sure if this is a product of the builder or subs but likley a mix.
We are planning to close a house but couple of questions.. Appreciate if any one could answer.
Can someone suggest how long does it take to go to Hamilton Station from this community? How long does it take on average from door to NYC Penn.
Are there any day care centers around this community.
Also, the prices of the houses in this particular community are way high than the locality (outside of community). Of course, these houses are new and the surrounding areas are old. Is this a factor to consider.
We have been looking at Phase 2 as well. Are you closing in on a house in the new Phase? I feel the same that the houses in this community are overpriced compared to the outside community. Also, they have raised their pricing in Phase 2.
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Any resale homes available in Cubberly Meadows?
Distance to Station
