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HOW to GET Upgrades on New Home

I want to buy a new built Pardee Home. How can I get lower pricing and free upgrades in Pardee in NW Las Vegas?
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April 26 2011 - Kyle Canyon
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Answers (8)

Finding a good agent will yield results. I recently negotiated on a new construction in Oceanside Ca for my client and I was able to get a price reduction, closing cost credit and an upgrade credit. We squeezed the builder pretty good. :-)
In the end a good third party negotiator is the best way to go.

GL
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April 28 2011
Use a buyer's agent with experience negotiating with builders (yours truly).  They are more likely to make a deal with an agent and firm who continues to bring them buyers than they are willing to do for a one time buyer.
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April 28 2011
Hello Dasfang,

I used to be the Sales Manager for a major builder in Las Vegas, so I feel qualified to answer your questions.  They are as follows:

I)  Yes, the Seller does pay my fee.  In fact, they do not charge more if you use me, or give you a discount if you don't.  But with someone in your court negotiating on your behalf, you can get a better deal.  In fact, what the on site people will often do, is give me the confidential on what kind of discounts or deals on upgrades we might be able to get for you.

II)  There usually isn't a discount for cash, because at the closing table it is all cash to them anyway.  Sometimes you get a discount for using their preferred lender though.

III)  With regard to a free upgrade to tile, not in most cases.  Consider this.  When the flooring company bids to be the supplier for the flooring, they bid the base grade (entry level carpet which is quite frankly normally junk) at below their cost, knowing that while a few people will take the base standard carpet, most will upgrade from the crap carpet  they offer (they will tell you it is crap in order to get you to upgrade) so they are in the profit category again.

IV) When you say this higher home price falls outside the usual selling price, I assume that you mean that you are buying a home that is priced above the average price for a home in Las Vegas.  The fact that it is higher priced simply means that the home is bigger than the average, but their profit margins (meaning profit percentage) are probably as tight on the bigger homes as on the lesser priced homes.

Remember that the on site person works for the Builder, not you.  Lets go see the home, and let me negotiate the best deal we can get for you.  At the end of the day, if it isn't good enough, you walk away.

As always, best of luck, and thanks for reading.
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April 27 2011
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Interesting input from Zillowists.

Note:
1. I have been to the site.
2. I have Not spoken with any reps.
3. I will probably pay cash.
4. Home I am interested in is listed at $316k

Q.
I. Using cash, seller pays commissions?
II. Can I negotiate price down a bit since paying cash?
III. Floors not finished - can I get 'free' upgrade to all tile?
IV. WHAT other upgrades can be added at this time: i.e. Appliances, kitchen cabs, landscaping, pool?
V. This higher price home falls outside the usual selling price - can I use that to my advantage?

All the varied answers are much appreciated!!  I am use to wading through LOTS of info  :))

Cheers

Mark
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April 26 2011
Well if you are asking if there is another way to get them other than buying them through the builder, the answer is no. The issue with the new homes is the upgrades are not adding any value to them home, therefore making the appraisal more difficult. You can always buy them cash after you close.
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April 26 2011
So, since I posted my response, I just read a report that says there is an $88,000 spread between new homes and their counterpart in resale.  You can buy a lot of upgrades for that.  With regard to the last post about finding a good Realtor... good answer, but it sounds like you have already been to the subdivision you are interested in.  Pardee generally does not allow an agent to insert himself into the transaction once you have started a dialogue with the Builder's on site person. 

With regard to which upgrades bring the most bang for their buck, the problem is that this is a huge profit center for the builder and they count on you spending money on upgrades to widen their profit margin, so there is no upgrade that is worth what you pay for it.  When it comes time to sell, you will recover pennies on the dollar as to what those upgrades cost you.  So my 32 years experience tells me that you buy those upgrades from the builder for the intrinsic value (the warm feelings you get) as you live and enjoy your new home.

Having said all that, you can get all those same warm feelings and the smell of a new home by buying a foreclosure for $88,000 less and painting and reflooring the entire house to smell and feel like new.

Again, best of luck, and thanks for reading.
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April 26 2011
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In Texas, you get a good agent to work for you that knows their business and can tell you what upgrades are worth the money and which ones can be added later.  You negotiate the price and then start adding in those upgrades which don't cost the builder as much as coming off the price would.  You need a third party negotiator, a good Realtor to represent you, to even hear properly what is being told you by the sales representative.  You hear what you want to hear and you don't buy houses every day.  Sales people on new homes are not required to have licenses and therefore, the represent the seller....the builder, not you as the buyer.  How do you know if you are getting a good buy and all the upgrades that should be included if you don't have someone who knows represent you?
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April 26 2011
Tell them you won't buy unless they give you an acceptable upgrade allowance.  Then be prepared to walk away if they won't.  There is no other way... unless you have some dirt on one of the executives. (that was a joke).

However, my suggestion is to buy a foreclosure for $40,000 less and put in all of the upgrades you want yourself.  You can get a 203K loan which will allow you to put those upgrades into the loan.  You will be much better off financially in the end.  New homes are still way too expensive when compared to foreclosures and even short sales.

Best of luck, and thanks for reading.
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April 26 2011
 
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