Congratulations! You are thinking about building a new home. If done right, the process of actualizing your dream home will be one of the most rewarding and fulfilling experiences of your life. If done wrong, you may curse the day you signed your builder’s contract. That’s why it is important to have a Realtor on your side before and throughout the entire build process. Here are 10 reasons why you should hire a Realtor when building a new home.
1. You want someone with your interest at heart.
Buyers mistakenly assume that their builder’s salesperson or agent is their representative. In reality, he or she works for and represents the builder and their interests. Having your own Realtor means that you are on an equal playing field with your builder. Their agent represents them, we represent you.
The key is to bring us in before you sign a contract with the builder. Once you sign a contract without a representative, you lose the opportunity to have us advocate for you.
2. Our services are free (to you) and we will save you money.
Your builder has already accounted for our commission in the cost of your home sale. Some buyers mistakenly believe that they can subtract a Realtor’s commission cost from the overall purchase price if they choose not to use one. That is not traditionally the case. If you don’t use a Realtor, the money just goes back to the builder.
In fact, you are more likely to spend more and make more concessions when you are unrepresented. New-home buyers are also notorious for blowing their budgets as the cost of custom upgrades quickly rise.
3. We understand the hidden costs and terms in your builder’s contract.
Your builder will do an exceptional job of selling you on the very best they have to offer. Their model home will showcase their top-of-the-line structural and finish selections and you will walk away thinking you are buying the moon. But what you see with your eyes is not necessarily what is drawn up in the contract. The base price of your contract is exactly that: the cost of the very lowest option in terms of size, quality and selections.
We are very familiar with builder strategies and will help you understand exactly what you are getting. We will walk with you through your builder’s model home and help you understand what is, and is not, included in your home’s base price.
4. We’ll help you manage and prioritize your budget.
The cost of your new build may start creeping up by tens of thousands of dollars once you start adding all your wish-list upgrades to the contract. We want to have a conversation with you before you sign a contract about your budget priorities. Are you interested in optimizing your space with structural upgrades like adding higher ceilings, a third-car garage, an extra bedroom or larger closet space? If the answer is yes, then we’ll look at pulling back on finish upgrades knowing you can take care of those later and focus on getting the space and layout you want now. Or do you want the latest, highest-end finishes or more expensive environmentally-friendly options? We want to focus on upgrades that are going to bring you a significant ROI and fit your priorities. We want you to understand, and be comfortable with, your cost tradeoffs. Having a realistic budget is critical to a successful, and happy, home-building experience.
6. We help you make smart (and budget conscious) design-center selections.
Being in the design center is like being a kid in a candy store. There are so many appealing options and infinite possibilities. This is why it is important to have already thoroughly reviewed your contract and prioritized your spending.
At Niche Homes, we offer an additional benefit to our clients. Kayley Danielson, our in-house interior designer, will be at your design-center appointment along with your Realtor. She will assist you in making selections that meet your budget, design and lifestyle criteria. You will share your Pinterest or Houzz boards with her prior to your appointment so she understands your style and how you live. These few short hours will be critical to your long-term satisfaction. We want you to be thrilled with your home design plans and your ability to stay within your budget!
6. We manage critical deadlines.
Every builder will have different expectations for construction deposits, earnest money deposits, and the time you have to cancel a contract with a full or partial refund. We work alongside your mortgage professional to ensure you are aware of, and meet, all these deadlines.
7. We set timelines and keep builders on track.
Right now, the Wasatch Front is seeing significant delays in building and construction materials. Oftentimes builders will tell you what you want to hear as far as when your home will be finished. We can give you a better sense of what to expect and inform you as to when building permits, design selections, inspections and walkthroughs are due so that the hold up is never on your end.
8. We mediate disputes.
The one thing you can count on during the construction process is mistakes. Even with the most diligent builder, they are bound to arise. Dealing with mistakes over and over can take an emotional toll. Let us handle the difficult conversations so you don’t have to.
9. We attend regular meetings and walkthroughs.
One of the ways we manage expectations and mediate disputes is through regular builder meetings and walkthroughs. Clear communication is kind communication, and we excel at concise, regular conversations with your builder. We also require builders copy us on all building correspondence with you so things don’t fall through the cracks. If they do, we mediate and advocate for you so that the quality of your new home reflects the contract you signed.
10. We follow through on builder mistakes after close.
Many homeowners discover additional mistakes once they move into their new home. Building fatigue is a real thing, and many homeowners would rather live with the problems than face the hassle of having them fixed. Turn your checklist over to us, and we will see that the mistakes are remedied within the typical 12-month deadline.