New home purchase

Profile picture for Becksfab4
We found a home that we would like to make an offer on.  The home was built 5 months ago and when researching homes in the area, this home is priced approximately $30,000 higher than other homes that have sold.  How do I know if I am getting a fair price on a new home?
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March 06 2011 - Iowa City
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Answers (3)

Profile picture for sryan1980
you need to compare the home's statistics to other comporable sales in your local area. It could have more bedrooms, bathrooms, etc. If there is no discernible difference then the house could simply be overpriced.
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December 03 2011
Profile picture for Darrell Self

That is correct you need to get your agent to pull comps in the area. The newer the home the more energy efficient features there will be as will there be better technology in regards to construction techniques and features that may not be available in the home sales that you are aware of.

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March 06 2011
Your agent will be able to assist you by pulling recent sales in the area and comparing them to the home you are interested in. As you are probably aware, there are many factors to look at when considering price, especially when considering new construction as there could very well have been advanced building techniques used that were not used in the other homes you mention. This is just one of the many services that your buyers agent can do for you throughout the home buying process. Good luck with your purchase!
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March 06 2011
 

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