I just had the oppotunity of representing Alex & Soli in the purchase of their second home. The purchasing process of new construction is a bit different from a resale. We arrived Saturday (yesterday) morning at Amelia located in San Mateo, CA. 6 Homes were releasd for sale and at least a dozen parties filled the room ready to swip up one of these stunning condos. Alex & Soli received their number and are called by the appropriate date of pre-apprvoal. They were estatic to get the opportunity to choose which model they wanted.Â New Construction:Â
There are definately a lot of pros to purchasing new construction. A new home that is warranted (limited) under CA law for 10 years, the ability to customize your home with upgrades, the price..well is the price. There is no multiple offers or over bidding, and what you see is what you get. Who doesn't like the smell of anything new!Â Cons:
Builders typically will release homes in phases for sale and completion. In a strong market like we have now, there are multiple buyers and limited home for sale. This causes a "lottery" to be held for potential buyers. There is no gurantee and is the luck of the draw. Closing can become tricky as well, although there is a target completion date, that is no guranteed date until 2 weeks prior. In a resale you will typically know the days (20-30) for the escrow. If you are trying to sell your home it can take some orchestrating and you should have a professional realtor on your side.Â
If you are interested in new construction it's best to team up with a realtor to represent you and tour the developments along side you for your first time. They can can details from the sales center and coordinate on your behalf.Â
If you are interested in learning about new developments or would like more information. Contact me today!
Congrats to Alex and Soli and happy house hunting!
Founder & Contributor at:Â SevenSquaredSF.comÂ &Â PremierPeninsulaProperties.com
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Climb Real Estate - Senior Sales Associate
251 Rhode Island, Suite 105
San Francisco, CA 94103