Buying "new construction" is a bit different from buying a previously-owned home. For one, because there is no previous homeowner, you don't have to deal with a seller's emotional tie to the property, which typically influences the negotiating process. Whether you're designing and building a custom home or buying a home that's built on spec in a new subdivision, you'll only have to work with the builder.




As with buying a previously-owned home, you have to figure out your budget and secure financing before you even begin house hunting. Get pre-approved by a bank or mortgage lender. Decide how much money you want to invest in a new home. And don't overlook the extras like property taxes, insurance, furniture, window treatments, landscaping costs and maintenance that can drain your bank account.




"It's absolutely critical for new homeowners to know what they can afford based on their income, debt and credit score," says Rosy Messina, vice president of sales and market ...

Buyers are already embracing the new rules, and the only potential issue is how soon sellers and their listing agents will figure it out as well. Here are our top five tips for real estate agents looking to capitalize on their seven seconds:
1. Educate
Learn how to handle classic seller arguments. These include, “We want to give the buyers the opportunity to upgrade the home the way they want to,” or “If we replace the carpet, the buyer may not like it and we will have wasted our money.”
These arguments are effectively dead. Today’s buyers, in large, do not want to fix up homes. When sellers ask why they should spend money to upgrade when a buyer might change things once they move in, the question you ask in return is, “If you can spend $1,000 to make $2,000-$3,000, does it matter what buyers do when they move in?”
Sellers must understand that buyers are looking for homes that meet their criteria, not the seller’s. Homes that resona ...