Save money when purchasing new construction

If you're driving through newer developments looking for new construction, having a knowledgeable agent on your team is crucial. will be your guide when navigating the sea of new homes today to pick one that's been built for you.

Buyers of brand new homes in a neighborhood don't like to see houses sold after theirs go for less money. Knowing this, the builder or developer often won't bend on price. (You'll appreciate this behavior after you've bought a home in a development of new construction!) Regardless, depending on the market and the status of the project, there's sometimes room for negotiation.

For example, if a property has been on the market a while and the builder is deeply invested, then you have some room. The same goes for show or model homes that have been sitting for a while. However, if a home was just completed, don't count on being able to get a deal.

In situations where a builder won't budge, ask for assistance with other aspects of the transaction. Ask for them to pay a share of the closing costs, or more amenities, like appliance upgrades, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. Or take the contrary route. If a home is nearing completion, you can often save money by passing on suggested upgrades from the builder and installing things yourself.

Just because a home is brand new, it can still have its share of flaws. Be sure to get a home inspection before purchase so that issues are handled and also negotiate a home warranty. Then, about 10 or 11 months after purchase it's worth it to pay for an inspection and get anything else repaired before the warranty expires.