Tips on Buying a New Home
So, you’ve decided to take advantage of the softening real estate market and builders' big incentives by buying a new house in a subdivision. Buying straight from the builder can be a big bargain. But your dream home can turn into a numbers nightmare if you don’t follow some simple advice. New Dream Homes & Condos Magazine correspondent Judy Hazan gives great tips on how to save on your brand new abode. Top housing hints:
1. Stick to the original floor plan – It might look like a simple change to you, but builders in subdivisions run like assembly lines, and the minute something goes off plan, it costs them money, which they pass on to the purchaser with big markups.
2. Watch those costly upgrades – Buying upgraded finishing material (flooring, cabinetry, finished basements, etc.) through the builder can be costly. The builder can charge 35-300% (or more!) on upgrades, so it’s smarter to choose from the standard finishes and handle upgrades yourself through independent suppliers.