First Time Buyers & New Home Buyers
Why Use a Realtor?
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly.
REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.
The Homebuyer's Guide to New Homes
For home buyers, a big decision is between purchasing an older home or buying a new home. Here's some information about new homes to help you clarify your decision. When shopping for your home, you'll discover that most homes on the market are resales. Yet, one out of four homebuyers purchases a new home. Both new homes and resales offer advantages. Before you make a decision, let's compare the two:
BUYING NEW HOMES
- offer innovative use of space and style
- greater energy efficiency
- a choice of options and upgrades
- everything is new, and modern
BUYING OLDER HOMES
- on the average they are less expensive
- often they are in established neighborhoods with mature landscaping
- homes have already settled, eliminating possible problems that arise from this happening after the purchase of home
There are advantages to both. Should you be thinking about buying a new house, here are 10 points to consider before you visit your first model home.
10 Tips to Save You Time and Money
Before you visit your first model home, sit down with your agent and do your homework. You'll want to be prepared so that you can determine a comfortable price range for your new home.
Determine a Comfortable Price Range - If you own a home, you'll first need to know the net proceeds from its sale in order to determine how much cash you'll have to work with. Don't simply estimate this but carefully calculate every possible selling cost. If you're a first time buyer, you'll need to first qualify your income. Determine the size of your down payment, then work out a monthly debt load so you can determine a comfortable price range.
Here's a good point to remember. The sales agent in the model home represents the builder, not you. They are known as sellers' agents. As a buyer you can work with a buyers' agent at no additional cost. It's his/her business to best represent your needs by being knowledgeable about home construction, warranties, financing, differences in pricing, quality, even lot selection so that you get the best value for your money.
Like all tradesmen, builders vary in their fields of expertise. For example there are builders who specialize in craftsmanship, others who are known for their innovative use of space, and those who offer below-market financing or customer attention during construction and after move-in. Determine your own specific needs or preferences then shop around for a builder that will best address your requirements.
Request the full online version of the Homebuyer's Guide to New Homes to get full details on all 10 tips and MORE including:
- Get the Facts About Your Builder.
- Check Out the Neighborhood.
- Choosing Options and Upgrades.
- Be Sure the Contract Works in Your Favor!
- Financing - What's Best for You?
- Just Because it's New - Doesn't Mean it's Perfect.
PLUS, buyer advantages your builder may not reveal!