The Parade of Homes started today in the Twin Cities. There will be all kinds of lavishly decorated new construction available to tempt the consumer. There's a magic about the Parade. It's almost like the Pied Piper. The music plays and we all follow mindlessly along.
If you are a Parade shopper, consider these points:
- The models you are viewing are not going to sell for the lowest price that is advertised. Usually the model homes are filled with upgrades. I've only seen two builders in the metro area that historically had built their models with one that is the "stripped down" version so the buyer could see what they would normally be buying. When you view the model, ask the host/hostess how much the one you are looking at would actually sell for AS YOU SEE IT. You may be surprised at how much those little additions can add up!
- Another thing to remember is that if there's a real estate agent acting as host in the model, that agent is representing the builder, not you. That means the builder gets the agent's loyalty; obedience; confidentiality; benefit of the agent's skill, experience, training, and negotiating abilities; and ANY INFORMATION YOU SHARE WITH THE AGENT will be conveyed to the builder. When you disclose too much personal information, you may compromise your ability to negotiate.
- If you want a real estate agent to represent you in negotiating with a builder, ask your agent to go with you and "register" you in each of the developments. This allows your agent to not only represent you, but to get paid for the work they put into your purchase.
- Just because a property is new does not mean it will be perfect. On several occasions, my buyers' private inspector has found issues that need correction even after the final city inspection has been done. Even new mechanicals can breakdown immediately after you move in. It's unlikely, but "newness" does not guarantee perfection. Be realistic and remember new is nice, but not perfect!
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