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What to Know About Buying a New Construction Home

Many people who want to purchase a brand new home think they don’t need the representation of a REALTOR®. People we meet tell us the builder will give them the best deal possible on a home without representation. They believe an agent won’t bring much value to the transaction and will likely cost them money.

Experience tells me that nothing could be further from the truth. Buyers who work with a REALTOR® who understands the process get a better deal and more for their money than those who go it alone.
Best of all, when you hire a licensed buyer’s agent, the commission is already included in the price of the home. That’s right. It doesn’t cost you anything to use an agent to negotiate on your behalf. If you choose NOT to use an agent, the commission is still included in the price, but it goes back to the builder! Hiring an agent to look out for your best interests simply makes sense.
You may think the representative for the builder is working for you, but that’s not the case. The builder’s rep works for the builder and will negotiate on their behalf. When you use a REALTOR®, the agent works for you and has a fiduciary duty to work on your behalf.

What can a licensed REALTOR provide?

An experienced REALTOR® can get you discounts and savings that the builder’s rep won’t provide unless you have representation. A REALTOR® can work for you to get free upgrades, a better lot or more favorable terms. Buying a new construction home can be a stressful process. An agent helps relieve that stress by communicating on your behalf and helping you avoid pitfalls.

Today’s new construction market in Metro Denver

At the end of November, builders in the metro area had almost 950 “Quick Move-In Homes” available. These are homes that builders are eager to sell. There are even more homes that are currently in the planning stages. Since the market slows down during the wintertime, buyers can often get these homes – with nice upgrades – at favorable prices.

If you’re considering purchasing a home that’s still a vision on paper or one that has been completed and is ready for a buyer, contact The Principal Team now.

If you go see a builder before you have representation, it’s likely you won’t be permitted to get representation later – so the earlier you call, the better. Builders often require the real estate agent to be with you at your first meeting.