Updated about 9 years ago on .
Tips for new construction home?
Hi - I'm currently looking at a new construction home as my primary residence. This will be my first home purchase so I'm hoping those with experience buying new build properties can weigh in here. Background: the contract takes place well before construction even starts and there are no model units to walk through. As part of the contract, there's a deposit (earnest money) required which I believe is non-refundable. Some questions I have:
1. Do new home builders typically allow for negotiation around the refundability of the deposit? I've been reading mixed comments around the web about this one.
2. What are some common items that a buyer/agent should try to negotiate on? (e.g.deposit down, upgrades, etc. I'm aware that purchase price isn't usually something the builders are willing to go down on since it sets a bad precedent but I'd like to make sure i don't leave anything on the table.
3. What are some standard protections a buyer should look for once the project is complete? (e.g., warranty, maintenance, etc)
4. Any other tips or advice?
5. This will be in the DFW/Dallas area so if anyone knows of a good agent/realtor/resource in the area to assist with the contract, I'd greatly appreciate any referrals.
Thanks!