Home Buying in Norristown>Question Details

Deb, Home Buyer in Narberth, PA

Does being on a golf course increase a resale value? Buying new constructon?

Asked by Deb, Narberth, PA Mon Jul 27, 2009

we are looking at a new construction townhouse on a golf course that was just reduced to 299990 from 312K. This is new construction 3br 2.5 ba 2015 sqft but with the basement unfinished. When I asked about seller assist the agent said none would be offered since the price was reduced. we really really lke the fact that it is on the golf course. But i feel with the unfinished basement and the lack of seller assit this is not a good buy. The agent made it seem like since it was new construction ther could be no price changes. So would the benefit of being on a golf course help increase the resale value in about 10 years

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In our opinion any "premium lot" potentially increases your property's resale value, golf course, lake view, beachfront, etc.

Deb, many buyers of new construction enter into this situation without the benefit of the expertise of a real estate professional to support them. Builders are in the business to make a profit but the fact that they have discounted the price may or may not be a good indication of "how low they are willing to go."

Let's examine my most recent experience with a national builder. We know the inventory, understand the incentives that the company has offered, and track resales in the community. All of these assist us in providing support to our buyers. We just negotiates a home that will close in two days priced at $242,000. The same model is being offered today at $259,900 with the company sales staff sending the message that they do not negotiate price..."they have already discounted the price!"

I know better.......agents have the ability to save you money because they know what builders have done in the past and where they are willing to go. If you want to believe $299,990 is their best number, that is your choice.....but we know better.

It won't cost you anything to begin a relationship with a real estate professional today.....but it could cost you to not do so....

Good luck

The Eckler Team
0 votes Thank Flag Link Mon Jul 27, 2009
Nice development abutting Jeffersonville Golf Course. Most builders won't finish a basement because that is one more item, albeit a large one, they would have to warranty. As for "seller's assist", I would continue to press for either financial or option concessions. Keep asking, and while they are pondering and nearing their financing deadlines, keep looking; there are other townhouse communities that you may want to consider.

Jeffersonville is a nice municipal golf course, but the development abuts it, not on it. Equate this feature to a swimming pool; not everybody wants one.
0 votes Thank Flag Link Mon Jul 27, 2009
Good Morning Deb,

Bill is correct you should never enter a new construction site, even just to gain information or a brochure, without representation! It cost you nothing to be represented by your own agent so why would you opt out of that? However unfortunately most new construction sites do not allow you to be represented after the fact. Once you enter their site without an agent that is it. It is rare that they allow you to then state you are represented.

If you choose not to go this route at this particular development, in the future align yourself with a Realtor who is experienced and will guide you through the steps of homebuying. There are many ins and outs. That way if you want to visit new construction the agent is already on hand to arrive to the site with you and help you with all of the questions and negotiations.

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Agent 2004, 2005, 2006, 2007, 2008
610-999-7693 Direct
610-489-7355 Main
Author of Ask the Realtor in the Saturday "The Phoenix" Newspaper
0 votes Thank Flag Link Mon Jul 27, 2009
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