Home Buying in Warminster>Question Details

Njkasis, Home Buyer in Warminster, PA

new home price reduction

Asked by Njkasis, Warminster, PA Sat Jan 28, 2012

What is the current trend of new home price reduction? Is there a margin in base price reduction as well as getting upgrades?

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Builders will all most never reduce a price unless they are going out of business then you should be worried about other issues since the warranty will probably disappear. What can be negotiated are upgrades to appliances, trim packages and maybe flooring. If a builder reduces a price and has a “sale” the new comp he has created may force him/her not to build in the subdivision since the newest sale is the new standard for future sales. The government has tied the builder’s hands and basically put a gun to our head and said I dare you to have a SALE. Thanks, President Obama
0 votes Thank Flag Link Sun Feb 5, 2012
Most buyers in the area offer free upgrades rather than reduce the price. When you go to new construction for the first time you should go with your own agent if you are working with a buyer agent. The sales agent at the model home represents the seller. There are some great new communities in the area. A buyer's agent can guide you with the home buying process.
Web Reference: http://www.gitabantwal.com
0 votes Thank Flag Link Sun Feb 5, 2012
Njkasis,
Builders fight to show full price. They are more likely to give up upgrades or help with closing costs than show a discount. A good buyer's agent can research the builder and work with you on an effective strategy for buying. Don't use the site agents if you can help it. You will get more for your money with your own agent, assuming they know what they are doing, then with the site agents who represent the builder.
0 votes Thank Flag Link Sat Jan 28, 2012
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