1. What incentives/discounts/credits can you offer me?
2. If I work with your lender, can they pay my closing costs?
3. Mello roos taxes, how much are they, how long are they in place and can they be renewed?
4. How many phases will there be in total and what is the total number of homes to be built?
5. What is the historical pricing record for this development?
New Homebuyer discussions with your new home agent
When we meet at some point, either virtually, at my office or at a new home builder community in order to view the new homes, we will discuss these 5 topics and I will explain the reasons for asking the questions whos reasons are not so straight forward.
1 - Incentives/Discounts/Credits - If you don't ask you won't receive it. I have been able to get "lot" premiums waived for clients. I have been able to get massive discounts for clients on transactions that had been in escrow before. I work hard to get everything I can for my clients. It helps that I have bought new homes before personally, it really helps to have had a member of my team who worked for a few different new home builders as their agent in the past. That insider information is truly a valuable extension of me when it comes to representing you as a new home buyer.
BTW - You may not know this. My representation for you is FREE. The new home builder gladly pays me to represent my new home buyers because they know I have a lot of buyers and have clients come to me by referral.
Plus, I can typically send a single email blast to my past clients about new homes and housing where I'll get a response of interest.
2 - Closing Costs - Lender Appointment - In some cases, if you use the new home builders lender said the lender will pay your closing costs. Closing costs are those "fees" that a buyer has to pay in order to buy a home. These fees are in addition to the cost of the home. They cover what the lender is charging you to obtain a loan. Your part of the escrow fees - sellers have their own portion. Your part of the Title Insurance fees, the seller has their own part as well.
Who typically pays is dependent on the housing market and who can be made to pay. In the case of a buyer's market, where home buyers are a commodity and where inventory is plentiful. Most sellers may decide it's better to pay the buyer's closing costs and get their home sold. It's a total negotiation tool.
If new homes are being built, that is most likely a seller's housing market. Why would a new home builder break ground if homes are not selling or if the market is depressed? The short answer is that they would not.
However, they make the lender's job easier. They pitch their lender and that lender may be happy to provide assistance with the buyer's closing costs and contribute to the same.
If you are using the Santa Clarita home experts to buy a new home, then you may have another avenue from where you can get your closings costs covered when buying new construction. (ask me)
3 - Mello roos Taxes - Special Assessments - Most ask the right first question. Do your homes have mello roos? The second right question should be, "How much are they?" However, the other two - having to do with how long they are in place and what's required to keep them going, those questions are super important.
Consider it that most people say in their homes for less than 5 years. Let's say you are one of those who is going to stay put and not move forever. If the mello roos tax is going to go away when you are going to plan on retiring, that is an extra incentive for you to potentially buy the home. Houses without mello roos taxes and or special assessments sell faster and for more $ per square foot than those which have them.
But, if you are going to pull the pin at work to relocate where all of your grandchildren ended up in Idaho, and the mello roos can get renewed, you should know that now.
In some cases, this will not impact some new home buyer's decisions. In most cases, the fact the home has mello roos is enough to remove those homes from the buyer interest list.
I ask these questions directly to the new home advisor and then follow those answers up in an email establishing the record.
4 - Phases and the total number of homes - Yes, this one has to do with your personal placement within the new home community. If the new home builder is at phase 7 and if that is the phase you are buying in that's good intel to know.
The rule of thumb is it's always better to buy earlier phases. That, of course, is dependent on the other "building" that is happening in the other nearby neighborhoods.
There could be a single stand-alone builder that is building only 100 homes with a total of 4 phases made up of 25 homes each. That small project builder won't stand up to the mega builders where we can track data points of past sales.
However, in this above case, I'd look at the other construction that is happening in the areas, the price per square foot and the other factors which are going to be beneficial or a detriment to my new home clients' ownership.
The entire community picture has to be taken into account when it comes to buying a new home. It needs to be looked at as if the whole area was built out. So many times I see people that go it alone when buying new homes.
Why would you when me being by your side does not cost you anything?
5 - Historical Pricing Record for the Community - This is where the rubber meets the road. This is also how I get my clients the best deal possible on new homes and housing.
I want to find out what has sold and for how much.
There is also the pricing strategy by the new home builder and the corporate partners.
When do they revisit new pricing and what does that trend look like.
We got one heck of a deal on a New Clarita home during the final buildout phase and because the market stagnated for two previous review cycles.
I knew that this was going to cause alarm with the new home builder and they wanted to get this home off of their books to look good in front of their shareholders.
My buyer and I made a less than asking price offer and it was countered at a great deal.
We accepted and entered escrow.
Looking back that $70,000.00 Plus was my best new Santa Clarita home victory to date.
KB was the seller and my buyer was elated.
New Santa Clarita Homes
Representing all New Santa Clarita home clients is my honor.
When you are ready to make your new home or resale home purchase dream your reality, I'll be here.
We will start with a meeting in my offices. Discussing your new home wishes and me giving you the top things that you need to be concerned about related to buying a new home.
I will then give you all of my time. I want to ensure my clients are the best protected as they are able to be.
I'm Connor with Honor with the Santa Clarita home experts and I'm glad to be of great service when it comes to everything that is Real Estate.