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Thinking about buying a new construction home?
There are many new home options in the VA/DC/MD area. Are you thinking of purchasing a new condo in Dupont, Arlington or Bethesda? What about a new single family home in Vienna, Chevy Chase or Fort Belvior?
Purchasing a new construction or pre-construction home is very similar to purchasing a resale home,
but there are many builder guidelines, requirements and incentives to consider. Make sure that you're represented fully before you head out to look at new communities.
Remember, the price is the same whether you have
a Realtor or not, so why not have someone watching out for your best interests?! |
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| New Home Construction Myths: |
MYTH 1: I can get a discounted price on a new home if I don’t use a Realtor.
TRUTH: Builders do not discount, nor do they increase prices to compensate for
a Realtor’s commission. The price remains the same whether you have an agent
working in your best interests or go at it alone. While the builder does pay a
Realtor’s commission, they do not subtract it from the sales price if you do not
have representation. In other words: Get Representation!
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MYTH 2: You can’t negotiate with builders on the price of a new home.
TRUTH: Though there is less flexibility in prices with new construction homes, there
are many incentives to take advantage of and other terms that you can negotiate besides price.
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MYTH 3: New home construction stands a better chance of appreciation in value.
TRUTH: Most new communities see their home property value increase drastically
in the first 5 years of opening. During this period, the home values often increase
at a faster rate than resale homes. A community’s property values eventually reach
a plateau and will appreciate at a rate more closely aligned with resale homes. However, this may change in Metro DC’s current housing market, and we will likely
see new home construction immediately align closer to resale home appreciation
over the next few years.
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