5 key Things to Ask When Buying a New Home/Condo
October 26, 2013
Here’s a column from Mark Weisleder all about buying a new construction home and this applies to both condos and single family homes. Having a reputable agent on your side helps – and it doesn’t cost the buyer anything.
Why is it a good idea to be represented by a realtor when buying a new construction property? The main reason is that the salespeople that are there to help you, buy work for a developer, not you. They have to treat you fairly and ethically but they aren’t there to serve you with your best interest in mind. Secondly, they are not trained to advise you on price and share with you how the price of the property you’re considering actually fits into the pricing landscape of the area you’re buying in. Simply, they aren’t there to tell you that you’re overpaying. Thirdly, a realtor is there to explain to you all the hidden costs and levies that you may not be aware of… developers don’t want you to know this information so using a realtor to help you negotiate the extra fees down can save you thousands of dollars.
Some buyers think that by not using a realtor that they are saving on the commission that a developer would be paying the realtor but that is simply not so. Developers just pocket the savings and they don’t pass it on to the purchaser… there are no savings going directly through the sales centre. In fact, it could just cost you more than you’ve budgeted for..
Many people will buy their first home from a builder, whether it is a detached home, townhouse or condominium unit. Here are the five
questions you need to ask to make sure you don’t make a mistake.
Click here for the article