Best wishes with your new home!
Silver State Realty & Investments
My first question would be. Do you have a Buyer's agent that represents you? If you do have your Buyer's agent ask the Sales tract agent or Sales manager if it would be ok to pay for your upgrades upfront. If you don't have an agent representing you. You can ask. Which should not be a problem. But, it is always better to ask.
As far as new home builders and pricing the home. They have a base price let's use $100k as an example. So as long as you don't choose any upgrades at the design center and just go with a basic home then your price should stay at $100k. Now, if they have lot premiums, upgrades or any other packages you may choose they will add this to the base price. Therefore raising the purchase price.
Congratulations on you buying a house, and being able to pay CASH for it. I don't necessarily agree with my colleague down below. If you have the CASH to buy a house and it will not put a strain on you financially. Go For It! What my colleague forgot to mention. Is that over the life of a 30 year loan you would be paying twice as much for the home due to the finance fees and charges. Nothing wrong with paying CASH for a house. Investors do it all the time.
New home agents in the State of Nevada are licensed. The main difference is they work for the New Home Builder, represent the New Home Builder and get paid by the New Home Builder. So where do you think that agents loyalty is?
I hope this helps you. If there is anything else I may do to help. Feel free to contact me directly.
Barrett & Co., Inc.
David Cooper Investor 702-499-7037
As an owner of a few new construction homes I purchased in the past, I learned my lesson quite quickly.
First off, many RESALE properties are selling for less than what it costs to build them. Meaning, you could have acquired a very comparable home for nearly half the price of what you are paying.
Secondly, the upgrades they charge you for in new homes are virtually double what they would cost, than if you were to go to Home Depot and purchase them there yourself. The suck you in on the base price to get you excited, then you end up where you are now.
On top of that, some people even finance those items over the length of their mortgage. The best thing I can see about this deal is that you paid cash.....which we NEVER recommend. Tieing up your money in this market? Not a good idea for you, but THEY make more money off of you that way. Again, in this market, your hard earned dollars should be saved for a rainy day, as you leverage it by way of bank's money (A LOAN).
Last but not least, those builder agents don't even need to be licensed in many states, and often represent their employer wholeheartedly....the builder.
Our advice, consult an attorney before signing another document!...PS...You should always contact a 3rd party before making these types of decisions. Just an FYI...sorry.
With you in mind,
LV Property Search