Naples New Construction Listings
The Naples Condo Boutique Team has toured the various new construction options in Naples and can assist in refining and pinpointing your search for a new construction property. Our information rich, low pressure approach offers a value-added resource to property search. Read more about Naples new construction.
Naples New Construction Properties For Sale
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Why You Need a Realtor for New Construction Purchases
New construction is a great option for many home buyers — you can select your lot, customize your finishes and live in a pristine home that most likely won’t require upgrades any time soon. One common misconception about new construction, however, is that you don’t need to work with a realtor. Having someone on your side throughout this process is key. We’ve listed four reasons below why a realtor can ensure an optimal result in purchasing your new construction property.
Your real estate agent represents you
While the salesperson at a model home is helpful and can certainly manage the sale for you, ultimately that person is employed by the builder. Because their goal is to generate as many sales as possible for the builder and at the highest price, this may not always work to your advantage, especially if you don’t want to feel pressured into purchasing a property. In contrast, your realtor is contractually obligated to represent you and your best interests, protecting your rights and advising you on the market, any neighborhood dynamics and potential resale values.
Your realtor can save you money
Working with a realtor can save you money on a number of fronts. First a realtor typically has a good sense of the best time to buy and if he/she works with a number of builders may also have insights on when they are more willing to negotiate a more aggressive deal or discount. Second, your new construction realtor can help with the negotiation of one of the biggest benefits of buying new construction — the customizations. An experienced realtor has a good sense of the wholesale price of many upgrades and alterations and can assist in streamlining this process for you. Many builders only advertise the base price of their homes — not necessarily the model home you tour with all the premium finishes. Realtors can also guide you on recommendations for negotiating the inclusion of items that appeal to a large number of buyers, ensuring the highest return on investment. If you have a strict budget, your agent can also advise you on what items to include now such as a basement rather than upgraded flooring or a bonus room that are easier to add later. Finally your realtor comes at no additional cost to you since the builder is paying your agent’s sales commission.
Your realtor can help with the contract paperwork, inspections and contingencies
The purchase of a new construction home involves a lot of paperwork. Your agent reviews the paperwork and contracts to ensure you are getting what is promised. A typical contract is authored by the builder in a manner that favors the builder. Your agent can assist with contingencies and even recommending legal counsel to add language to the contract that will guard against any complications should something go wrong. In addition to filing the paperwork and keeping the process moving, your agent can also assist in setting up an inspection to ensure all aspects of your new home from the plot to the foundation to the exteriors to the septic system are sound.
An agent can help you select the right neighborhood and builder
Your agent most likely has worked with a number of builders and can put this knowledge to work for you in finding a builder you trust as well as one that fits your budget and personal aesthetic. Realtors are familiar with a builder’s quality of workmanship, warranties and overall responsiveness in responding to customer issues. Because they don’t work for the builders, realtors have an objective view in reviewing this information with buyers versus the builder’s agent who just wants to sell as many homes as possible in a short time. Once you’ve settled on a builder, a skilled agent will work with you to help you select the best lot, the right community for your lifestyle as well as the features you want in a neighborhood. In some cases the community you select will dictate the builder but again, your realtor can help you understand the trade-offs.
Given that a home is one of the largest purchases you’ll make in your lifetime, it’s critical to have a trained professional on your side as you navigate the process to finding and creating your dream home.
The Pros and Cons of Naples New Construction
Today’s new construction homes are an attractive option in any home search. Before building a home, however, it’s critical to explore the pros and cons of building your dream home versus buying an existing property. It’s also critical to acknowledge that any purchase of a new home includes costs as well as stress as you move through the process.
New Construction PROS:
Perhaps the biggest reason buyers move forward with new construction is the ability to customize and make the home your own. Building from the ground up allows you to work with your builder to select flooring, counters, cabinets, as well as the floor plan and designs that accommodate your lifestyle. A brand new home also incorporates a modern floor plan that optimizes open spaces and natural lighting as well as ensures there is no wasted space on rooms you won’t use. Home offices, an exercise room as well as overall larger bathrooms and closets are mainstays of newer home designs.
Even meticulously maintained homes still have some dings that paint can’t cover or aging appliances that may need to be replaced. By definition, your new home comes equipped with the latest appliances, windows, roof, etc, along with the warranties that should protect you for at least year, be they manufacturer or builder plans.
Avoid competing offers
In today’s hot market, properties frequently have multiple offers or even bidding wars. Even if you look at homes in less competitive markets, when you’re building a home you don’t have the back-and-forth with other buyers that can escalate tension as costs go up and homes go off the market.
New homes are by definition more energy-efficient and incorporate the latest technology which translates to lower utility costs as well as less maintenance. As well as helping to maintain the environment, you don’t need to worry about major repairs on older infrastructure and appliances. Your insurance rates are also likely to be less than what you would pay for an older home.
In addition to avoiding the costs of repairs and operating a more energy-efficient home, the initial cost of building a home can be a bit less according to the National Association of Realtors - especially if you proactively take steps to lower the construction costs and minimize custom finishes.
New Construction CONS:
The flip side of customizing your new home is that if you’re building in a specific development or complex, the builder may have you choose from a set number of designs that are based on what is most appealing to the market. While many options are still customizable, the overall layout may be very similar to other homes in the area
Building a home is a big project and not for the faint of heart. Working with contractors to make all the decisions involved in new construction can be challenging with the potential for delays, miscommunication, and even cost overruns. Even careful planning with strict budgets and timelines don’t prepare you for the expenses you didn’t anticipate or materials that may end up costing more than originally planned. In addition, if you haven’t been through the process before, balancing the details of the construction process with work and family can also be stressful.
Not surprisingly, costs can be both a pro AND a con. While building a home can initially be less expensive, loans traditionally will have a higher interest rate than a conventional mortgage. You also have to factor in permits and many customizations and upgrades can send your budget soaring. And, if you have to rent a place while you’re waiting for your new home to be completed, you need to include this cost in your budget as well.
While you may save time on the hunt for a new home, avoiding the open houses and online research that are the scourge of many searches, you still have to wait for your new home to be finished. According to the U.S. Census, the average time to build a new home from start to finish is seven months. Weather issues can delay construction as well as influence the timely securing of materials, adding to your wait.
Smaller lots and landscaping
According to Forbes, many newer homes are built on smaller lots than most older homes, making it increasingly rare to get that backyard you had as a kid and envisioned for your family. Landscaping choices can also take a while to fully mature from a green lawn to trees and flowering plants that may take years to grow.
While there is nothing like walking into your newly built dream home for the first time, it’s still important to weigh all of the different factors involved in new construction before deciding that new construction is for you.