Buying A Home
mau_loa
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
How to negotiate price with a home builder?
DH and I are considering building a new town home. We are adding about $40k in options - that's where they make their money right? The sales guy has told us that they will consider offers, but nothing crazy. He thinks we might be able to get $7k off. To me that's nothing considering all the options we're adding. How can we get the price down? Do you really think the builder would not work with us if we offer about $20k less than the asking price?
Anyone have a successful story?
Re: How to negotiate price with a home builder?
we negotiated a lot of extras into our offer.
Honestly, I don't remember the actual $... but it was over 15k I think.
Our realtor was super helpful with that. She knew what those extras *actually* cost them and we added that amount to our base offer (for the house, only).
Ex: We were going to offer 200k for the the bare bones house... but we wanted 15k (their price) in extras... but realtor told us that 15k only cost them about 7k... so we offered 207k.
(These are not realistic numbers at all!). See my blog back in the beginning for more details about the process.
"The House We Built."
A journey of building the dream.
Ditto Shan Our builder built in a lot of the options.
What we are getting:
~2500 sqft
3 Bedrooms, 3 full bathrooms
Open Floor plan
Finished Basement with rec room
2 car extended garage
14x10 rear deck
16x6 front porch
Gas log fireplace with marble surround
Upgraded carpet padding
Ceramic tile in dining, kitchen, bathrooms, laundry, and basement landing
Wood in foyer
Over head lights in all rooms, fans in all bedrooms and living room
tankless hotwater heater
$1,000 credit for washer dryer
$1,875 credit for kitchen appliances
Total: $282,080. List price was $289,000. Only actual upgrade we are paying for is hot water heater and of course the extra for our appliances. Amount needed at closing $279,005. Our builder took 3% off since we were a cash sale and not having to deal with a lender.
We considered a new build. The builder was willing to finish the basement and add on the morning room and kitchen island upgrade for the baseprice, but balked when we asked for the master bathroom upgrade. If they had agreed, we would have signed the paperwork, but they said no. They were really difficult to work with, so we went elsewhere.