Save money when purchasing new construction

While driving through newer additions searching new construction, having a knowledgeable agent on your team is important. is here to help you navigate the sea of new homes today to locate one that's right for your family.

In real estate, negotiation is always an option. However, with new construction, it depends on the builder and how long the home has been available. Developers in new additions avoid bending on price because homeowners already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and what the market is doing at that point in time, a developer will often allow a few concessions.

For example, if the home is pretty much move-in ready, you have little to no negotiating powers. But if the home has been sitting fully furnished, like a show or model home, and there haven't been many offers - then the builder might be willing to work with you. The longer the home has been on the market, the more the builder has invested.

You can always ask for assistance in other ways when purchasing new construction. For example, closing costs are one way for you to save without lowering the price of the house. The same goes for amenities - ask for things an allowance for window treatments, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. That can go the other way around, too. If upgrades are already in the plan, see if you can get the builder to omit them - you might be able to install them later yourself at a savings anyway.

While you should always negotiate a home warranty so problems can be fixed, get a home inspection before your purchase regardless. Inevitable problems can be repaired (by the builder) before you move in and larger problems identified before it's too late. Since an inspection is relatively inexpensive, some new home buyers get an inspection after being in the home for 10 or 11 months - that way, the builder can make the repairs before a 1 year warranty expires.