The Charlotte real estate market has more home buyers than sellers. It is one of the hottest markets in the country with competition for homes skyrocketing. As a result of the high demand for homes, many local home buyers have turned to new home builders in Charlotte metro area. Here are the main things to keep in mind when considering to work with Charlotte area home builders.
Charlotte area home builders vary considerably
Every home builder has its own unique style, workmanship, quality and target markets. Home builders vary considerably. There are move-up home builders, affordable home builders, production home builders, luxury home builders, custom home builders in North Carolina and more. There is a specific style and quality of workmanship that is unique to each home builders. That is the reason why a real estate agent can go into a home and identify a home builder who built it. Therefore, it is upon you to evaluate home builders and find one who will be a perfect fit.
Most new homes are not on real estate websites
It is important to keep in mind the fact that you will rarely find a new home in websites such as Zillow, Trulia and many more. Buyers contract directly with buyers to build a home that meets the buyers’ needs. Consequently, there is no reason for builder to advertise the home because it already has a buyer. However, there might be some “Quick move-in” inventory homes that are built for buyers who don’t want to go through the building process.
Understand agency relationships
The in-house sales staff are employed by the builder and are required to protect the interests of the builder. It is prudent to be careful not to give some sensitive personal information to these sales people because some of them are not licensed agents and can jeopardize your bargaining power. You should also make it known to the builder rep if you have a realtor or not. You will want to have your own representation to be able to get the most out of the deal.
Working with home builders
You will be blown away at the entrance of builder model homes but be aware that the model homes have expensive upgrades that will drive up the price. You will want to give $10,000 to $20000 allowance above the base price when evaluating neighborhoods as well as starting prices to be able to determine the final price. Home builders can also give you incentives if you use their preferred lenders as well as settlement agents. They may not be willing to negotiate much about the price.
Building a home
The building process will take about six months. You will want to monitor every step of the construction process along with your agent and be diligent at it. Be diligent enough to hold supervising superintendent into account. The success of the project will largely be dependent on the superintendent’s knowledge as well as expertise to manage the construction of your home.
Why work with a realtor?
A realtor can be a valuable resource in your search for homes. A realtor will protect your interests, research and evaluate different builders, floorplans, communities as well as location. A realtor is highly knowledgeable to guide you through the whole home buying process.