Buying new home

[Hello123]

When buying a new home, is it better have your own real estate agent? or go through the builder?

Are there any fees for hiring your own agent?

Thanks

[msouther]

The builders generally pay the real estate agent a commission only if the realtor introduces you and registers you @ the showhome first. If you have already registered they probably won't pay the realtor. You don't pay the agent a cent.

With that said, I think there is great value in hiring a realtor to help you build your first home. They can help you pick the right options to create a house which is well suited for you and the area. The worse thing you can do from a resale point of view is build the best house in the neighbourhood. The lower valued properties around you will bring down the value of yours. I did this on my house I just sold which I built 5 years ago. I loaded it up and spent a lot on extras. That didn't translate to extra bucks when it came time to sell. Take the lesson from me!

Other things they can help you do is choosing your lot for size and location as those are most important when it comes to resale. Remember the agent will work on your behalf, the sale rep with the builder is working for the builder and will try to sell you all of the upgrades imaginable as that is how they are paid.

All the best and if you have questions post them up and one of the local agents will answer you.

[shynepho]

On the other hand if you know what your doing you should just deal with the builder on your own. I was in at a Shane Homes showhome last month and they had a spec home on sale and the lady said if you dont use a realtor we can work on the price a little bit. Now this was for a spec home so I'm not sure if this also applies to new builds. Just something to think about.

[masoncgy]

In my time with a major builder, I found the only time a realtor was used was in cases where the client knew a realtor as a family member/friend, basically doing that person a favour by getting them a deal.

The vast majority of clients came in and dealt with our sales people on their own.

Spec homes are different than new builds. Spec homes cost more for the builder to carry, so they are more often than not willing to negotiate on the price to get rid of it. Most spec homes get some upgrades which the builder factors into the price, but because they are so heavily marked up, there is plenty of margin available for negotiations with a potential buyer.

New builds are not typically negotiable on price, just inclusions... again, for the reasons stated above.

[Hello123]

Thanks for the information guys.

My plan right now is to buy a new townhouse. BTW this would be my first place.

I have been doing alot of research online about the process of buying a home, but i still feel kinda uncomfortable with what needs to be done.

If you guys could recommend me a real estate agent, that can help me with the pricing, upgrades, and the whole process of purchasing a home, I will greatly appreciate it.

[Cos]

Just a question, why are you set on going new? I bought an 8 year old townhouse and I love it. It was also cheaper than the new ones.

[Masked Bandit]

The only thing I can recommend is that you don't build anything with Cardel Homes. Simply search Beyond for reason after reason after reason after reason.

[skandalouz_08]

Sent you a PM OP

[JordanLotoski]

Give me a ring