Myths About Buying a New Construction Home

Myths About Buying a New Construction HomeBefore you buy a new construction home in Columbus, make sure you understand these common myths and are ready to house hunt with accurate information. Buying a home is a dynamic process filled with important decisions; the more well informed you can be, the more confident you can be in the choices you need to make. 

One of the best things you can do in the home buying process is choose a realtor who knows the market and can help guide you. We're ready to help. In the meantime, check out these common myths about buying new construction homes so you can be ready to make confident and efficient decisions. 

Myth: New Construction Homes are Always More Expensive

While it’s true that new construction homes sometimes come with a higher price tag compared to older homes, this is not always the case. The price of a home depends on various factors including location, size, features, and the local real estate market. Additionally, new homes often include modern amenities, energy-efficient appliances, and contemporary design elements that ultimately save you money in the long run on utilities and maintenance. Builders may also offer incentives such as paying closing costs or providing upgrades, which can make new construction more affordable than it initially appears.

In other words, the bottom line price difference is more complicated than the sticker price. Let us help you get all the information so you can make a true comparison before you decide which is the more affordable option. 

Real Estate expert Bill Gassett of Maximum Real Estate Exposure has excellent insights into building homes considering his father was a builder and he has custom built a few homes as well. He provided excellent tips that all prospective new home buyers should understand.

"One of the most significant myths in new construction is that these homes are always more expensive than comparable resale homes. While it is true that in some locations can be more expensive, that is not always the case. If the builder made a wise land acquisition it's possible the costs of building could be lower. Where most new homes end up being more costly is when a buyer gets carried away with extras. This is where new construction can get expensive. We all see something we like and " got to have it syndrome" sets in.

Another popular myth is that picking out things is too difficult. There are so many choices today in most things that decisions should be easy. They key is trying to stay within budget. As mentioned, many buyers can't settle on what the builder offers as a standard feature. Instead, they see something custom that another custom has added. What I always tell my clients is to set a budget for each major items and stick to it."

Myth: You Don't Need a Realtor to Buy a New Build

Many buyers believe that they don’t need a real estate agent when purchasing a new construction home, assuming they can negotiate directly with the builder. However, having an experienced agent is invaluable during this process. We can advocate on your behalf, help you understand the contract, negotiate terms, and ensure that you get the best possible deal. Builders typically factor agent commissions into their marketing budgets, so having an agent doesn’t cost you more. In fact, it can often save you money and prevent potential pitfalls.

Myth: New Homes Don't Need to Be Inspected

Another common misconception is that new construction homes don’t require inspections because they are brand new. However, even newly built homes can have issues, ranging from minor defects to significant structural problems. With any project  even run by a reputable builder, there is a margin for error that's just part of human nature.

It’s crucial to have an independent home inspection conducted to identify any potential issues before closing. This step ensures that the builder addresses any necessary repairs and that you move into a safe and well-constructed home.

Myth: Builders Won't Negotiate

There is a misconception that builders are rigid in their pricing and unwilling to negotiate. While it’s true that builders want to maintain a certain price point to protect the value of the community, they are often open to negotiating on various aspects of the sale.

This might include offering incentives like covering closing costs, providing free upgrades, or offering extended warranties. We are often able to negotiate on your behalf to see what concessions can be made. Before you assume a deal won't work for you, let's talk about it. 

Ready to learn more about successfully buying a new construction home in Columbus? Contact us any time to get started. 

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