Have your eye on a brand-new home, but it’s just out of budget? There’s actually ways to negotiate new construction homes so you leave with a good deal and your dream space. Whether you have your eye on a new-build in Rock Hill, NC or are about to buy a new construction home in Palm Springs, CA, take a look at everything you need to know about how to negotiate a new home price with builders in this Redfin article.
Key takeaways
- New construction homes typically have less wiggle room on base price, but plenty of room on incentives.
- Working with an agent familiar with new construction is your biggest advantage.
- You’ll have the most leverage when the home is already built or the builder needs to close quickly.
Table of contents
What is a new construction home
A new construction home is a new-build that has never been lived in and is typically sold by builders or developers. These homes include custom-builds, move-in-ready spec homes, and homes in new residential developments.
Pros of a new construction home
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- Modern: Most new construction homes come with modern features like layout, design, and smart home technology. They could also include money saving elements like energy-efficient HCAC systems, thermostats, or double-pane windows.
- Lower maintenance and repairs: Since everything is brand-new, you’re unlikely to face major repairs or maintenance issues for a while. Many new homes also come with warranties that cover structural defects, systems, and workmanship.
- Customizable: If the home is still under construction, buyers may have the opportunity to choose design elements like flooring, cabinetry, and other fixtures.
Cons of a new construction home
- Higher upfront costs: Most new construction homes are often more expensive than resale homes, especially with upgrades and customization.
- Move-in timeline: If the home isn’t finished being built, you may face move-in delays due to construction schedule changes, weather, or supply chain…