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Old 06-14-2008, 07:16 PM
 
6 posts, read 12,996 times
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I'm a first time home buyer and wondering if new construction condos are always this firm on their pricing....

They won't budge off their list price nor throw in any upgrades. Am I getting ripped off or is this normal?
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Old 06-14-2008, 07:43 PM
 
Location: West Jordan, UT
494 posts, read 1,744,301 times
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Quote:
Originally Posted by KMacDonald View Post
I'm a first time home buyer and wondering if new construction condos are always this firm on their pricing....

They won't budge off their list price nor throw in any upgrades. Am I getting ripped off or is this normal?
Depends on the builder and development. Holmes Homes is notorious for sticking to their price (also, I wouldn't build with them - can explain if you want me to). Also, anything in Daybreak right now is hot, hot hot and will be dificult to get price concessions.

Are you working with a Realtor? I would suggest working with one - it won't cost you anything, and they may be able to advise you on certain portions of the contract. I built with Holmes Homes, and definitely wish my Realtor had been present when I signed the contract.
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Old 06-14-2008, 07:49 PM
 
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I checked out DayBreak and was turned off due to the commute... These ones are the ones out on 7200 South and 945 W. I am unsure of the builder but the name is Parkview at Riverwalk.

I talked with a realtor today and I am going back next week. I just don't feel the "I'm getting a good deal" vibe.....
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Old 06-14-2008, 09:07 PM
 
Location: West Jordan, UT
494 posts, read 1,744,301 times
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Quote:
Originally Posted by KMacDonald View Post
I checked out DayBreak and was turned off due to the commute... These ones are the ones out on 7200 South and 945 W. I am unsure of the builder but the name is Parkview at Riverwalk.

I talked with a realtor today and I am going back next week. I just don't feel the "I'm getting a good deal" vibe.....
The wierd thing about that development is that they seem to be pretty heavy in marketing it (KSL, Craig's List, MLS, etc). Seems like they would be willing to negotiate.

If you decide to move there, make sure to get specifics about the insulation between the floors & common walls, and what they have done to condition the sound. I moved into a condo in Magna that had NO NOISE insulation between the floors... It made the 5 years I lived there unberable!
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Old 06-14-2008, 09:29 PM
 
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Thanks for the tips, I'm still open to other places. I'm looking for new development in the 170s range....
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Old 06-14-2008, 10:20 PM
 
Location: West Jordan, UT
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Originally Posted by KMacDonald View Post
Thanks for the tips, I'm still open to other places. I'm looking for new development in the 170s range....
Where are you (or where will you be) working? Garbett has some developments within that range, and I have known multiple people who built with Garbett & had no problems.
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Old 06-14-2008, 10:33 PM
 
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I work at LHM Lexus on 5701 So State. I wouldn't want to go further south than 13000 So. Where are they located?
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Old 06-15-2008, 10:45 AM
 
Location: West Jordan, UT
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Originally Posted by KMacDonald View Post
I work at LHM Lexus on 5701 So State. I wouldn't want to go further south than 13000 So. Where are they located?
I think Garbett would be too far west to make the commute short. they have a location at 11400 South & Bangerter (near Daybreak) and a community in West Valley on 5600 West 3100 South.

Just a thought... have you thought about a home that is 1-2 years old? There seems to be a lot of investors that are selling right now. Ask to have a 1-year warranty provided with your offer. I think a condo complex in Sandy, Albion Village, may have at least most of what you want. It would be a short commute to work, it is centrally located, close to the freeway (approx. 9600 South & 255 West), it is close to shopping, TRAX, the new REaL stadium, the freeway... and is in your price range. They were supposed to start a new phase soon, but I don't know what is going on. But, the new phase is supposed to be more "upscale," with larger units, so I am guessing that it will be out of your price range.

You can check out what is on the MLS by going to Utah Real Estate - Your One Stop Source for Searching Real Estate in Utah. Pick the ZIP code 84070, type of home Condo/townhse, and max price of $200K (remember that in this market, you can and should bid lower than list). For example, MLS # 773513 is in your price range. The only downside is see is the square footage... You may be looking for something larger. I'll keep thinking & let you know if I come up with something else.
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Old 06-15-2008, 10:52 AM
 
Location: Cedar City, Utah
4,347 posts, read 8,639,661 times
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Quote:
Originally Posted by KMacDonald View Post
I'm a first time home buyer and wondering if new construction condos are always this firm on their pricing....

They won't budge off their list price nor throw in any upgrades. Am I getting ripped off or is this normal?
If I can put my two cents in on the condos..I worked for a city in Utah for 8 years. Just moved from the state 8 months ago. The developers that came in that applied for permits etc for the new condo/townhome projects even told me there is no negotiating on the condo price. Now this was a few months ago and I am sure the prices have dropped a little. They were selling faster than new homes is why they were pretty firm. If you can venture out and go a little more north of Salt Lake, I think u will find the prices are more reasonable
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Old 06-19-2008, 10:17 PM
 
6 posts, read 12,996 times
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I am thinking about making an offer. I didn't realize how many upgrades there are...and I thought car buying was rough....

Anyways, for my first condo trying to keep the cost down what upgrades do you all recommend? I'm thinking Cabinets (although I don't know what wood is good for the money), upgraded carpet and tile in the kitchen.

I'm more interested in what it would take to resell the unit 2-3 years down the road. Any thoughts?
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