Are prices on new homes negotiable?

Cheri
Home Buyer
Missouri

Answers (7)
Dale Weir
Agent
Saint Louis, MO

Yes, the builders will typically negotiate, however, they don't always negotiate with dollars, they will sometimes negotiate with upgrades, finishing the basement, adding a deck or patio, etc.

When you are negotiating with a builder, keep in mind that the salesperson at the development works for the builder and is there to protect the builders interests, not yours. If you want your interests protected, you need to have a Realtor with you, however if you don't tell the builder that you are working with a Realtor when you first sign in, they don't have to let a Realtor work with you later on, in which case you are on your own.

Mon Jun 1 2009, 14:18
Terry Willis
Agent
O Fallon, MO

Absolutely- especially if you use a Realtor/Buyer's Agent. We have knowledge of which builders do what in regards to free options and or lower purchase prices, and which ones are very negotiable. If you need some help just email me through the web site listed below. I have also taken additional classes and am certified in new construction.

Mon Jun 1 2009, 12:12
Jeff
Other/Just Looking
Virginia Beach, VA

Absolutely.

All builders and areas are different though. The builder does have to try to protect the developments apparent values for comps/appraisals reasons however. So, he may offer a cashback type of deal that appears to keep the development values up.

Mon Jun 1 2009, 12:06
Bob Georgiou
Agent
Walnut Creek, CA

How about the Agent's answer... check the competing homes.

Most home builders are pricing current inventory close to a small premium over what resales are and taking profits on the upgrades. First, chech the resale activity in your area and determine how close the new homes are priced.

The other factors are the builder, price, and product. A custom home in a high demand area and price is going to be less flexible than a tract home in the middle of a large development where there are more new home developments in the area.

Of course, if you need help, get an agent. Many new home communities are paying co-operating brokerage commissions, to help educate buyers and hold their hands through the process, which cost you nothing. The agent will not be able to assist you after the contract on the new home is written but it will goive you an opportunity to compare having all the realtor resources available to you.

Web Reference: http://bob2sell.com
Mon Jun 1 2009, 11:56
Cheryl Coop Coo...
Agent
Saint Charles, MO

YES!
Many people forget to take thier agent too. Take your agent with you and have fun.
We give our clients a new homes information packet to help understand all the terminology.
Have a great summer!

Mon Jun 1 2009, 11:53
Gene Mundt
Mortgage Broker
or Lender

Shorewood, IL

Cheri: The answer is yes ... and no. It truly depends on the builder. Some will negotiate, some will not. I know this is not a very definitive answer, but it's not a question easily answered or with a set-in-stone answer. Especially right now, some builders with housing stock are willing to negotiate where they might not have been willing in the past. You just need to stop by the home or call to find out.
I wish you the best in your house hunt ... and write again if I can help you with other questions.

Web Reference: http://www.genemundt.com
Mon Jun 1 2009, 11:48
Michelle Rottach
Agent
63366
FIRST ANSWER

It really depends on the builder, but most of the time - Yes

You'll usually have better luck negotiating additional options rather than the base price. There are a lot of builders that are offering fantastic incentives to buyers right now.

It never hurts to try to negotiate - the worst that can happen is they say no. You never know how motivated a seller is until you make an offer.

If you are working with the builders agent, remember that they are working for the builder, so don't say anything to them that you would not want the builder to know.

Web Reference: http://LetsGetItSold.com
Mon Jun 1 2009, 11:46

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