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Anyone has insights of negotiating with a builder on a new construction? Is it true that the builder would never give in on price, but more on upgrades? How is the housing market compared to 2011 and 2010 in NJ?
How can I get information on recently sold from one builder: price sold and the asking prices (including all the upgrades)? Seems I couldn't find anything on the web.
What's the most important thing we'd keep in mind when buying a new construction?
Anyone has insights of negotiating with a builder on a new construction? Is it true that the builder would never give in on price, but more on upgrades? How is the housing market compared to 2011 and 2010 in NJ?
How can I get information on recently sold from one builder: price sold and the asking prices (including all the upgrades)? Seems I couldn't find anything on the web.
What's the most important thing we'd keep in mind when buying a new construction?
Reminds me of posts we get from people who've heard realtors are a rip-off, so they want to list/buy for-sale-by-owner. Then the first question is something like "how do I know if this contract is fair?"
Builders hardly ever lower prices b/c that makes them vulnerable to everyone who wants a lower price. What they will do is give you some upgrades for free or a minimal price. This is true if you are buying a spec house, i.e., one that is already started. If you are trying to negotiate before they even break ground, I think you are out of luck.
What would a realtor do to make a contractor lower a bid price? I don't get it... I did a remodeling project and got 6 bids... the range was from 30k to 65k... ironically, the 30k gave me more custom options than the 65k... some people want more profit, others will do it for less... I didn't get a realtor involved because I don't understand why I would pay more for a "middleman"... If I was the OP, I just get a whole bunch of bids and see who you are more comfortable with... I would get a realtor if I was buying a property but not building a property... builders won't lower a price because you have a realtor, it just cost you more to have one... If I were you, I would get an architect, interior design, engineer, and a contractor if it was a complicated project... your architect should be able to negotiate with the contractor for materials and labor (that's their job)... but keep in mind, architects are EXPENSIVE...
Architects are not particularly expensive - I used one for a massive remodel job. The OP is talking about buying in a subdivision where the only choice is the floor plan and finish. This is not a remodel.
Get a realtor, the builder will be the one to pay his/her commission and they will be invaluable in navigating through the process. Also, look and see if they have any inventory homes. You can usually get a good deal on those, but you won't be able to customize as much as one you have built. I've bought 2 new homes and both were inventory homes and they were great deals. For my current home I paid the base price for that model and it has $58,000 worth of upgrades in it. It may not of had the exact cabinets I would have picked, but it was a beautiful house at a great price. If you build one from the ground up, I hear there is not much room in negotiating the price, but like you said you can negotiate upgrades. Good luck!
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