- Long Island, NY

Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

New Construction

Posted By Message

LIF Infant

Member since 2/13

337 total posts


New Construction

For anyone with experience purchasing a new construction home --

Is the process different at all from buying a home with previous owners? Also, there is a list price of the house but how do you know what the final cost would be? Is it typical to put down 20% on new construction?

Sorry for all of the questions. Any info/tips would be greatly appreciated!

Posted 7/1/13 11:50 AM
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource
  |   Long Island Weddings

LIF Adult

Member since 3/06

1134 total posts


Re: New Construction

Typical to pay 20%. Usually the builder does not want to budge much on price but will negotiate credits towards upgrades. Don't forget you will pay the transfer tax when you buy & again if you ever sell.

Posted 7/1/13 10:02 PM

Very much in love!

Member since 6/10

2864 total posts


New Construction

I don't know about in NY but in NC we are buying new construction and didn't have to put 20% down. EVERYTHING is an upgrade in new construction - houses come with very little. Many don't come with refrigerators/washers/dryers/even hardware on cabinets. The finishes included tend to be kind of ehhh. We are paying about $40,000 for upgrades and while we are getting some amazing things, we didn't get top of the line everything.

Posted 7/3/13 6:20 PM

Potentially Related Topics:

Topic Posted By Started Replies Forum
Anyone have experience buying a new construction condo and/or cash purchase? Tine73 1/15/12 4 Home
Ok, I got questions.. new construction what do I ask? Xelindrya 1/5/10 6 Home
Any NYC teachers moving to brand new classes due to construction being completed? jgl 8/28/09 5 Teachers
Anyone looking to buy a new construction AFFORDABLE home? MommaG 4/14/08 0 Home
SOooo nervous -- Put an offer on a new construction today! HomeIsWithU 1/29/08 4 Home
Need help finding a new home ASAP for a cat *updated personality of the cat*Update 2 New Picture* janet 9/5/10 3 Pets
Quick navigation:   
Currently 93910 users on the Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows