New construction homes in the phoenix area is an excellent choice! But get the facts so you are an educated buyer

NEW CONSTRUCTION HOMES IN THE PHOENIX AREA - AN EXCELLENT CHOICE!
BUT GET THE FACTS, SO YOU ARE AN EDUCATED BUYER

3 IMPORTANT FACTS: It is ABSOLUTELY CRUCIAL to have a Buyers Agent representing you when you buy a brand new home. Over 95% of the time, the Builder will pay the Buyer Agents fee. Using a Buyers Agent does not affect the Builders price of the home.

J.D. POWER - 2006 PHOENIX HOME BUILDER RATINGS - CLICK HERE

10 Reasons why you need a Buyers Agent for new construction

1) First and foremost - You must have your Buyers Agent accompany you to the new model homes - ON YOUR VERY FIRST VISIT! I know that seems like a hassle, but if you don't, the Builder will forfeit your right to having a Buyers Agent represent you if you decide you want one after viewing their models. And when you read the additional reasons below, you will clearly see that forfeiture could cost you big time! Most Builders are very strict about this rule.
2) Model Home Salespeople are Realtors, and they are representing the best interest of the Builder - not you. On the other hand, your Buyers Agent will look out for your best interest throughout the transaction.
3) The Purchase Contract - Builders use their own Purchase Contract - not the AZ Dept of Real Estate Purchase Contract. These need to be read VERY carefully because they can be written heavily in favor of the Builder. I'm not implying that they are being dishonest or unethical, because they wouldn't stay in business if they were doing so. You need a Buyers Agent experienced in working with Builder Contracts to explain the unique terms and conditions, and how those unique terms and conditions affect you and the money you are giving the Builder to start the home.
4) Builder Reputation - An experienced Buyers Agent should have a pretty good idea of which Builders are reputable, and can point out which Builders incorporate quality construction methods and energy features. For example, in some areas of the Valley, special foundations are recommended due to ground expansion. Talk to your Buyers Agent about this before you sign a Builders Contract!
5) Disclosure - Builders are not required to use a Sellers Property Disclosure Statement as is used in a resale purchase. Instead Arizona requires that they use what is called a Subdivision Report. If you don't read anything else, read the Subdivision Report with your Buyers Agent, and make sure you are clear about the content. Among other things, the report will spell out whether any of the subdivision is in a flood zone, impact fees, where the homes water supply and sewer will be coming from, the nature of the soil, and other important things you should know before you buy.
6) Monetary Deposit - Every Builder seems to handle this differently. Some require small deposits, some require very large deposits. Your Buyers Agent will make sure you understand at what point in the transaction, that the deposit becomes non-refundable.
7) Price Negotiation - Builders don't normally drop their base price, but many times they do throw in incentives - especially if you use their Mortgage Lender.
8) Model Homes and Base Price - Have you ever heard the expression "dollared to death"? I'm assuming you have, and it really fits here. Be careful not to be misled by the model homes in terms of what is included at the base price on the brochure. The model homes are professionally decorated, professionally furnished, and MOST of the time are equipped with expensive upgrades that are not included in the base price. Your Buyers Agent will make sure that the model home salesperson will explain the differences. NOW COMES THE DOLLARED TO DEATH PART! Builder extras equate to mega-dollars. Builders generally overcharge for extras. Consider your extras carefully. All of a sudden you find out that just about everything you are looking at, is an extra. I usually tell my clients to expect at least 10-15% more than the base price before all is said and done. If a particular model catches your eye, you should go look at an empty model if at all possible before signing any contracts.
9) More Extras - Ask your Buyers Agent where are the smartest areas of the new home to upgrade. Do you have extra money after closing the transaction to buy window coverings and landscaping? Does the landscaping have to be done within a certain time frame after closing? And much much more....
9) Inspections - Call in an independent inspector to check the home, at least before your warranty expires. Don't assume that because the home is new that you don't need an inspection!!! When you sell your home, the buyer will have an inspector look at the home, so why not find those defects while the builder will still fix them for free.
10) Value - Your Buyers Agent can do a market analysis for you to make sure the new home is a smart buy - not just an emotional one swayed by the "wow factor" of the model homes!

PLEASE CLICK HERE TO SEARCH THE MLS FOR NEW HOME CONSTRUCTION

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Many people prefer new construction homes instead of resale homes. Opportunities abound if this is your choice! New Family homes are plentiful here and are typically found in subdivision communities offering a wide range of amenities. There are also plenty of homes on large lots as well as homes with acreage. And If you are searching for new homes for sale where you would purchase land to have a home built by a custom home builder, you will find many options there as well.

You will find an amazing variety of new Luxury homes for sale in Phoenix Scottsdale Chandler Tempe Gilbert Ahwatukee Gilbert and Fountain Hills. Luxury homes with acreage are abundant here also, and are considered some of the finest luxury homes in the world! No exaggeration! Typically you will find luxury home estates either in a private gated lot, in a gated community, in a premier gated golf course community, or situated on a hillside lot with awesome views of the city lights and sunsets!

You have hit the jackpot if you are looking for a new Retirement home! You can find a wide range of retirement homes for sale in Sun Lakes as well as other well planned active adult communities in virtually every city surrounding Phoenix! The Valley of the Sun is often considered to be the best destination in the nation to retire!

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Kevin A. Hanley - Coldwell Banker Chandler Arizona
Associate Broker at Coldwell Banker Residential Brokerage
1045 W. Queen Creek Rd., Chandler, AZ 85248

The information presented on this Web site is intended for the purpose of providing information and resources regarding the multi-faceted real estate market in the Phoenix Metropolitan Area, and is not intended for any other purposes. To that extent, by continued use of this site, the user affirms the understanding of its purpose, understands the importance of verifying pertinent information, and releases KEVIN A. HANLEY, REALTOR® from any claims arising out of his/her use. Kevin A. Hanley is a member of the NATIONAL ASSOCIATION OF REALTORS®. Coldwell Banker Residential Brokerage is owned and operated by NRT Incorporated.

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