Owning a home, it’s the “American Dream” right? With interest rates low, many families are in the market to buy a house. If you’re buying a new build, there are a few ways you can save money & still get a home you’re proud to call yours.
Ways to save…
1. If you see a new subdivision being built, and are interested in purchasing a home there – you need to get on their waiting list asap! Most builders release their new homes in phases- maybe 5-10 homes at a time. Once the first phase is all sold, they will release 5-10 more for sale. Here’s the part that sucks, with each new phase, the price of the homes increase. YIKES! Let’s say your co-worker buys a home in the first phase & you don’t buy yours until the 3rd or 4th phase … you will end up paying thousands more for the exact same house. No bueno.
2. Landscaping – many builders charge extra for landscaping- thousands of dollars. You may want to go ahead & splurge on the front yard, since everyone that passes by your house will see it. As far as the backyard goes, if all you want is grass, you really don’t need to pay thousands for sod and to have someone install it. Two words for you: Grass Seed! Yep, buy some grass seed & spread it out in the yard yourself. Water & in a few weeks you will have a lush green lawn. How do I know? I’ve done it myself!
3. Flooring – your home builder’s design center will try to push you to order the most expensive flooring they offer- don’t do it! For example, it really doesn’t make that much difference how thick the carpet pad under your carpet is- it ends up feeling the same once the carpet is installed. Try to stick with the basics, and what comes standard with the home.
4. Cabinets & countertop upgrades – You can end up spending hundreds of thousands of dollars in upgrades, if you aren’t careful. Most of the model homes are fully stocked with the most expensive upgrades the builder offers, and they are counting on you falling in love with them! Don’t do it! Nowadays, most of the standard options are fantastic-they would’ve been considered upgrades just a few years ago. The way I look at it, if you are currently in an apartment or renting a house – buying a new home IS an upgrade!
5. Do your homework, get online and look up home builders and what new subdivisions are going up in your city and the surrounding areas- you may be able to save thousands by expanding your home search into nearby neighboring towns.
Good luck in your new home search, I hope you get the house of your dreams and walk away with some money in your pocket!
