Buying a new construction home in Northern Virginia can be an exciting but also intimidating experience. There’s the joy of anticipating what’s to come and the pressure of making many key decisions. While the excitement of customizing a home to fit your preferences is undeniable, the complexities of such transactions call for expert guidance.
Hiring a real estate agent specializing in new construction is a strategic move to protect your interests and enhance your home-buying experience. The home-buying process can shift from casual browsing to signing a contract quicker than you’d expect; I’ve witnessed this numerous times. This is particularly true for new construction homes or when you unexpectedly find a new community.
I suggest hiring an agent before ever visiting a new home sales site. Many builders require your agent to attend all home tours. If you visit a sales model without an agent, most builders will not allow you to hire an agent down the line.
You may be in the research phase or waiting for the right time to buy. Either way, getting a professional involved early can save time, safeguard your investment, and help you navigate contract complexities.
Choosing an agent you trust, especially one well-versed in new construction, is crucial. Here are five reasons why selecting a skilled and knowledgeable agent familiar with new homes is beneficial.
Reason #1: Avoiding Surprises and Setting Clear Expectations
A good agent will not only demystify the contract for you but will also highlight the areas requiring more attention or negotiation.
Working with an experienced agent can help keep surprises at bay and ensures you know where every penny is going, making it easier to make well-informed decisions. Professional agents are adept negotiators trained to look out for your best interests, potentially saving you from costly issues in the future.
Reason #2: Masterful Negotiations
Negotiating a new construction deal requires more than just understanding market prices; it involves an intricate knowledge of what can and should be negotiated.
An agent with a track record of successfully closing new construction deals knows the significance of warranties, the value of premium fixtures, and the importance of flexible floor plans. They leverage their expertise to advocate for you, ensuring you’re not navigating the negotiation process alone against a seller’s agent focused solely on the builder’s objectives. An agent’s ability to secure builder concessions, whether it’s upgraded appliances or upgraded landscaping, can enhance the value of your purchase.
Reason #3: Understanding the Sales Contract
Navigating a builder’s sales contract can be tricky due to its complexity. An experienced agent can review it, pointing out things that are easily missed. This is crucial for avoiding potential issues down the line.
New home sales contracts can be 20-30 pages longer than a standard residential contract. That’s a lot of information to review and absorb in a relatively short amount of time.
Reason #4: Commission Considerations
The builder pays the agent commission. If you don’t use an agent, you have one less person working for you, but there aren’t any financial incentives for doing so. While it may seem like bypassing an agent could lead to cost savings, this is rarely the case with new construction homes.
Builders are reluctant to lower prices simply because a buyer isn’t using an agent. Lowering the sales price by the amount they would have paid in agent commission could negatively affect the pricing of other units. Essentially, without an agent, you’re missing out on potential negotiations that could benefit you, saving the builder money but not necessarily doing yourself any favors.
Reason #5: Home Inspections
Even for new construction, having a home inspection is a smart move. I advise all my clients to hire an independent inspector to catch any potential issues before closing. I recommend a few inspections depending on the property type and where you are in the building process. Check out this blog post on the two that are non-negotiable in my book.
Your agent will share any issues discovered during your home inspection with the builder and negotiate with them on your behalf, ensuring any concerns are promptly addressed.
If you don’t have an agent, who do you think would negotiate for you? Definitely not the sales rep who works for the builder. I recently had a pre-construction meeting with a buyer where the project manager tried convincing my clients that they didn’t need any independent inspections. Needless to say, because they were my clients and I had already educated them on the importance of due diligence, they planned to do at least two inspections.
In Closing
Whether you’re in the early stages of considering a new construction home or ready to dive into the specifics, involving a real estate agent from the start can provide peace of mind and a clear path forward. Working in tandem with an experienced agent can ensure that your dream home comes to fruition just as you envision it.
If you’re ready to begin your home-buying journey, Click Here to schedule Your Perfect Home Consultation.
