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New Construction

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LILady7
LIF Infant

Member since 2/13

337 total posts

Name:

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
 
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jana
LIF Adult

Member since 3/06

1134 total posts

Name:

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
 

MommaBear
Very much in love!

Member since 6/10

2864 total posts

Name:
Angela

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
 
 

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