Today’s real estate market in 2023 has been a very crazy time – with limited resale inventory, I have had a number of home buyers decide that maybe they should consider new construction! So on a beautiful Saturday afternoon, you decide to visit some new home neighborhoods! Visit the models, look at the upgrades and the layout and maybe you decide that buying new construction is the way to go!
So do you really need a Buyer Agent to help you with new construction? After all, the site agent was extremely helpful and answered all your questions! Besides, not having a Buyer Agent may save you some money!
Yes – yes – yes! 100% yes you need a Buyer Agent to help you with new construction! There are 15 good reasons why your own Buyer Agent is essential when building a home! Remember, this is a huge investment and you should have someone looking out for your interests and protecting you through the process! Here are 8 good reasons why having your own Buyer Agent in new construction is not only a good idea, but necessary!
THERE ARE A LOT OF QUESTIONS YOU SHOULD ASK ABOUT THE BUILDER!
It’s natural to have some skepticism when it comes to the information provided by the person at the model home. To ensure you make an informed decision, it’s important to investigate the builder’s reputation. Take a look at their past projects from the past year to assess the durability of their homes. Connect with homeowners who recently worked with this builder to gauge their level of assistance. It’s also crucial to understand the type of homes they specialize in and ensure they align with your needs. Inquire about any warranties beyond the mandated one-year period and whether you can bring in your own inspector. Inquire about the estimated construction timeline and how delays or supply chain shortages are handled. Don’t forget to inquire about insurance coverage for the job site. Your Buyer Agent can provide answers to these questions or direct you to the appropriate sources for information.
HELP WITH FINANCING OPTIONS!
While it’s true that using the builder’s preferred lender and settlement agent may come with attractive incentives, it’s always a good idea to shop around and compare options. Your Buyer Agent can provide referrals to lenders and settlement agents, helping you make the best decision for your specific needs.
HELP WITH THE LOT, LOCATION AND NEIGHBORHOOD!
A Buyer Agent is like your personal guide to finding the perfect neighborhood and lot. They’ll provide invaluable advice on the pros and cons, ensuring you make the best decision for your family. They’re dedicated to helping you find the ideal location for you and your family.
HELPS YOU SET THE RIGHT EXPECTATIONS!
Walking into a model home can be quite exciting with all the upgrades and beautiful staging. But it’s important to keep your budget in mind. Your Buyer Agent can guide you in choosing the upgrades that will have the most impact on resale value.
HELPS TO ENSURE ALL PAPERWORK IS IN ORDER & UNDERSTANDABLE!
When building a new home, it’s common for builders to have their own contracts or addenda that are attached to the standard contract used here in Richmond. These contracts can be quite lengthy and are designed to protect the builder. It’s important to have someone advocating for your interests to ensure the contract protects you. They can help address issues like delivery delays, upgrades, inspection opportunities, and more.
HELPS WITH INSPECTIONS!
In the Richmond area, majority of home inspectors are now licensed. Many of them have even obtained the additional license to inspect new construction homes. Your Buyer Agent can suggest reliable inspectors to assess the home after its completion. The inspection results can then be added to the punch list of tasks that need to be finished before the final walk through and closing. Your Buyer Agent can communicate with the job supervisor to ensure all inspection findings are addressed before closing.
HELPS SMOOTH OUT PROBLEMS THAT MAY ARISE!
Building a home is an exciting process, but it can also come with challenges. That’s where your Buyer Agent comes in! They’re here to help smooth out any problems that may arise and ensure the build is progressing as it should. From visiting the site to mediating any disputes, they’ve got your back. Their main goal is to hold the builder accountable to the contract and make sure everything is on track for a successful closing.
MOST IMPORTANTLY – THEY REPRESENT YOU AND YOU ONLY!
While the site agent at the model home may not always be a licensed Realtor, it’s crucial to have someone representing your interests. Even if they are licensed, they are still representing the builder and not solely you. Having a licensed Realtor on your side ensures you have professional representation and avoids potential pitfalls. Remember, not using a Realtor may not save you money and could end up costing you in the long run.
I’d be happy to help with any questions you have about building a new home! With my experience as a Buyer Agent since 1996, I’ve sold many homes in new construction neighborhoods and have knowledge of various builders in the area. Just remember, if you’re visiting new home neighborhoods, make sure to let the site agent know you have a Realtor to assist you or you may lose their help during the building process. Building a new home can be stressful, but having a good Buyer Agent can provide you with peace of mind at the closing table.
