Your questions on new construction answered here!
Is it possible for buyers to get a deal on new construction?
Builders don’t typically lower the base prices because that will result in more buyers looking for ways to negotiate down. That said, they may be willing to consider financial incentives, so ask for a few upgrades instead.
Is the model home exactly what I would be purchasing if it is another lot in the development?
Not necessarily, typically the model home in a development is full of all the upgrades and amenities so it’s important to understand what your model comes with and what your model doesn’t. You can offer to buy the model home if that’s the one you‘d like to purchase.
Why are new construction homes so expensive?
In communities North of Boston, it costs a builder between $350,000 and $450,000 for a piece of land (often with a house already on it)! Now you add in the costs to demo the existing home and you start to get a sense of how the builder costs are high from the start. In addition, according to the National Association of Home Builders, regulatory costs account for almost a quarter of the final sale price of a new home.
Feel free to reach out if you have a question not answered here!