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For many people looking for their piece of Sarasota real estate, the number one choice for the last two decades or so have been planned communities. The benefits of planned communities are many, and include a built-in sense of neighborhood that you just don’t get these days when you move into a random home on a random street.
You also, in most cases, have a homeowners association that makes sure everyone keeps their property looking beautiful. This can REALLY help with overall property value should you decide to sell your home at any time.
But most people are looking to save money on the other end, during the buying process. Is it possible to save money on a home in a planned community? The answer is yes, but you have to know when to ask for it. Here are a few pointers for saving money on your brand new home is a beautiful planned community.
• Timing is everything when it comes to negotiating the price of a brand new home. In most cases, the builders are anxious to fill up the properties at two different times: at the very beginning and at the very end. During the initial announcement, the ground for the homes hasn’t even been broken yet and most builders are anxious to get the ball rolling. Being able to brag in ads that the new planned community is already half full or three quarters full is a huge boost, so builders are much more open to negotiation during the early stages of building. The builders are also much more open to haggle at the very end of the building process. Many of the planned communities have a few homes left over that weren’t sold or were sales that fell through at the last minute. They want to fill those homes as soon as possible, so it is a great time for a buyer to swoop in and offer a little less then the original asking price. Studies have shown that most builders are not going to turn down a sale over a few thousand dollars. The most important thing is to sell every home in the development.
• Some builders just don’t negotiate on price, no matter what. But that doesn’t mean you can’t stretch your dollar. In many cases, builders will haggle over the amenities of the homes. You shouldn’t expect to get a brand new in-ground pool or a new 2-car garage, but items such as carpeting, light fixtures and window treatments are add-ons that most builders will go for if it will close the deal. You can even upgrade current items for better quality ones. Again, most builders won’t turn down a $250,000 sale over a few hundred dollars in carpeting upgrades. Make sure you use that to your advantage.
• If you have your heart set on moving into a planned community, a good piece of advice is to attend open houses or presentations that the building company does. Not only will you learn every aspect of what the builders have planned for the community, but, in many cases, limited time offers will be given to those in attendance that aren’t available any other time. It can be something as small as a free doorbell on your home instead of a knocker or it can be major upgrades in carpeting or appliances. The point of these meetings is for you to go home and tell your friends about this great new community and sometimes, the builders involved will spend serious cash to get people talking. If you don’t attend the meetings, you’ll miss out on the freebies.
Negotiating the price of a new planned community home can be a bit tricky. You might hear that the price of the new home is fixed due to construction costs and is completely non-negotiable. But fear not, there are still many other aspects of your new home that can be negotiated and most builders are willing to make some major concessions if it means that the sale will be closed. Don’t be shy about asking for more, buying a home is one of the most important purchases of your life, don’t be timid and let a better deal pass you by.
GBrey
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