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Tips for Buyers of New Home Construction

These are a few common facts about building a new home that most new home buyers never know, especially those working without a new home specialist. We're sharing some of the secrets here, but get even more insights when you call us and get referred for buyer representation.
  • Builder options can have as much as a 40% margin, so it’s easier to negotiate options than asking for money off the base price of a house. Lowering the base price impacts the value of the other homes the builder is trying to sell so there is little incentive to lower sales price.
  • Some version of the model home the builder erects sells roughly 40% of the time compared to the other models the builder may offer in the community, simply because people like buying what they can physically see and walk-through.
  • Some builders charge and administration fee on top of earnest money, which is simply a fee for doing all the paperwork.
  • Builders used to accept buyer contracts with contingencies (i.e. the buyer could back out if their current house didn’t sell). They would sometimes be allowed to accept up to 4 buyers with contingencies. In a very hot market where sales are good, builders have very little incentive to accept a buyer contract with a contingency.
  • Most builders have well over a year to complete your home and not be in default of the contract.
  • At closing you should always check that the builder paid their portion of the annual taxes if you only took possession of the home for part of the year.
  • If a hurricane, tornado, or other natural disaster destroys your home under construction, the builder is typically not obligated to complete the home. They may decide to just return your money. There are a host of other reasons why a builder may decide to back out of the contract.
  • Once a home is completely "sheetrocked," the home will typically close in 60-75 days.

Dallas Office

6160 Warren Pkwy, Ste #100
​Frisco, TX 75034

What You Should Know

Some of the services offered by The ReWright Company, LLC require a real estate license in Texas. For that reason we must include the following notice:
Texas law requires all license holders to provide the Texas Real Estate Commission Information About Brokerage Services form to prospective clients. (Click Here)

Texas Real Estate Commission Consumer Protection Notice (Click Here)

Website is not a solicitation for home sellers who have listed their home with a licensed Texas real estate broker
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​Right next to Ford Center at The Star

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