The price of a home is always on the forefront of a new home buyer's mind. For this reason, shiny builder incentives can be pretty enticing when you're on a budget. With the variety of "deals" being offered from builder to builder, it’s important for you to do some inquiry ahead of time as things aren't always what they seem. We have a few tips on what to look for when it comes to builder promotions.
Some builders may offer special packages such as "free" upgrades valued up to X amount of dollars; when you're actually paying for them in the overall cost of your home. So, if you're interested in a deal that offers free appliances, you'll want to do some research on how much they actually cost. You may find that another builder is offering the same incentive, only much cheaper because they haven't raised their overhead to compensate.
Read The Fine Print
Before you go all in on a particular promotion, make sure you read the fine print. You may sign up for a great deal upfront only to find out you don’t meet the requirements until it's too late.
Quite often, to get a certain deal from a builder, you have to commit to a 30-day closing or use their preferred lender. So check and be sure you make the cut for what the builder is offering before you purchase.
Make sure you check what each builder offers as the standard in their homes. For example, one builder may offer a free upgrade to quartz countertops, whereas another builder offers them standard in every home they build.
Another thing to consider is the value of the upgrade you're receiving. Even if you're getting them for free, some builders may skimp on the quality. This means, as opposed to 3/4 inch thick quartz, you may only get half an inch or less - reducing the overall value of the upgrade and your home.
You want a high quality built home, so it’s important to factor in the cost of upgrades versus freebies. If you go in knowing what exactly what you want out of your new home, it will be easier to evaluate whether you're getting an equal payoff from any reduction in cost.
As a new home buyer, you need to do your research and find exactly the right fit for you. Don’t be afraid to ask for specific details and shop around a bit so you know what you're getting. With these in mind, you should be able to calculate the costs of your new home and be sure you are getting the best value for your money.
Our knowledgeable show home staff can help you with understanding builder promotions. They can also tell you what our current promotions are. If you're ready to get out to visit some show homes, we've made it easy for you! We created a simple, print-friendly show home map that you can print off and take with you in your car. Just click on the button below and download your FREE copy now!