Inventory is shrinking in our market, which means many buyers are opting for new home construction instead of buying resale homes. If you’re thinking about building a new construction home, there are a few important things you should know about the process to protect yourself at the highest level.
First, remember that on-site agents in the new home construction community work for the builder. We often find that, as consumers, buyers have a tendency to run straight to the new home construction community and disclose everything to that on-site agent. This would be a big no-no in our industry IF the agent represented you but that on-site agent has a fiduciary responsibility to their employer—i.e. the builder—to disclose everything you told them.
The best way to protect yourself against this is hire a top-notch agency like High Performance Real Estate to represent you. It doesn’t cost you anything, and there are many variables that go into a new home construction that you might not otherwise know to take care of, like getting a pre-inspection before the drywall goes up or checking the foundation for serious issues.
We’ve heard our share of horror stories selling resale properties for people who bought new construction homes directly from the builder and later on has serious issues with that home. Many buyers think it will cost them money to have an agent represent them in the new construction community, but that’s not the case. Builders aren’t allowed to increase their price just because you choose to use an agent.
There’s no obligation to sit down with us for a consultation and let us tell you about which new construction communities are out there, which builders are offering incentives, and the special access we have to builder closeouts.
If you have any other questions about our market or you’re thinking about buying or selling a home, don’t hesitate to reach out to us. We’d love to help you.