When building a new home can you negotiate the price of the house?

Question

I have found a neighborhood with new homes being built that I love. I know at this time they do not have a lot of new buyers. I like a one floor plain that is right in my price range. But I like a higher price elevation. It is $5000 more. I cant add any more to the cost of the home. This is a buyers markets and there are alot more home to be sold even outside of this neighbrhood.

Answer 1

You can negotiate up to the point you sign a contract.

Work out all the things you want into the contract, then offer him something like 5k less than asking, plus the add ons. You might even start lower than that, because here's what you have to remember:

The worst thing he can do is say NO, leaving you where you are now. He'll counter with something higher, but it costs you nothing to ask.

Answer 2

Definitely negotiate with the builder. It's possible instead of tacking on $5000 to the purchase price, you can do some haggling.
Think carefully before moving into a newly built neighborhood. Don't buy at the front of the neighborhood; literally too much traffic. Also be prepared for construction workers for years. (especially if you have children) Being in early means you have no idea how the neigborhood will evolve over the next few years.
All this can be a part of your negotiating with the builder. But remember he's trying to make a profit off your purchase so do your homework on the neighborhood & area.

Answer 3

Negotiate till you have a fare deal and some thing you can afford. If they do not deal it is time for you to walk, there will be more ans at a better deal soon, As you said this is a buyers market. since it is a new home there have been several story's about new home tracks drop up to 150k off there price just to dump the houses. They know the housing market id dropping fast.Also you may want to check this out since you are buying at the top of the market and will be up side down as soon as you move, for the next ten years.

http://www.breakingbubble.com/index.htm

Answer 4

Are you represented by a Realtor? If not, get one. They are best at handling this type of transaction. Remember sellers usually pays the commission, so it not like you will have that to deal with.

Have the Realtor write an offer on the home for you for $5,000 less than they are asking. The worst thing that can happen is they will say no. You still have choices, you can agree to their price or walk away.

Answer 5

Everything is negotiable. sit down with the builder and spec out the house inside and out and then negotiate the price. Its done every day but they have to view you as a serious buyer.