In Thurston County there are several new subdivisions under construction. Builders involved vary from the cookie-cutter builders like DR Horton to the more boutique builders like Rob Rice Homes.
These homes are hard to pass up, due to the modern features, open floor plans and safety features, like sophisticated overhead fire suppression sprinklers. Many of these new subdivisions are wired already for electric car charging and have solar panels, hybrid hot water tanks and heat pumps. When looking at these home with your real estate professional, compare the cost per square foot to existing homes that require updated and you may be surprised that new construction really pencils out.
When buying a newly built home or one that is under construction, it’s important to get an independent and professional home inspection. A home inspection costs approximately $500 and is well worth the money. For a list of top quality local home inspectors, please reach out to me and I/m happy to give you a referral. Why inspect a new build? Was the roofing subcontractor top notch? Are the roofing vents installed properly? Is the crawlspace full of construction debris? Is the attic insulation installed properly?
Some of the downsides of buying in a new subdivision:
- Builders don’t generally negotiate off the list price. Accepting a price lower than asking price has an effect on the other sales in the subdivision – in some cases builders may offer a small amount of help with closing costs.
- Prices rising – due to inflation, rising labor costs and material shortages due to inflation and natural disasters. Builders are tacking on $20K and more as the houses are going up.
- Some builders are aggressive about using their lender. Buyers who have been pre-approved by a trusted lender/mortgage broker are enticed to abandoned their lender by more closing cost concessions, appliance allowances or other goodies.
- Lot sizes tend to be smaller, HOAs stricter and some builders refuse to supply refrigerators or an allowance for refrigerators.
Upsides? Nothing beats new and it’s nice knowing that the entire home is up to the most current safety and energy efficiency building codes.
Olympia Real Estate Blog 