Facts About Buying a New Home in Austin!
The Austin New Home market is booming!
New Home Prices are Rising - New Home
communities are selling out quickly and prices are rising! Every
day you wait to buy a New Home in Austin may cost you
future equity.
Homestead Tax Exemption - If you close
and fund on your new home in Austin by December 31st, you can
file your Homestead Tax exemption for the following year
reducing your property taxes.
Builders will NOT discount the price of a New
Home by the 3% commission if you do not use a Real Estate Agent
- Builders work very closely with the real estate community to
sell their new homes. Builders pay Real Estate Agents out of a
marketing fund that has no impact on the negotiated price or
incentives. If you don’t use the free service and representation
of a real estate agent, the Builder simply saves the 3%
commission as profit!
New Homes in Austin are more energy
efficient than most re-sales!
Builders provide warranties on their new
homes; these types of warranties are not available on
re-sales.
Many times Builders will pay for a qualified
Buyer’s closing costs and down payment, and move a Buyer in
for only the $1,000 earnest money! Most sellers do not offer
this on their own re-sale home.
If you want to build a new home from dirt in
Austin expect the process to take at least 5-6 months
before you can move in. Start looking ASAP!
An inventory home from a Builder is
considered to be any home under construction or completely
finished that is not under contract with a Buyer. Most Builders
offer incentives on inventory homes to ensure they are closed
and funded upon completion so the Builder has adequate cash flow
and can be as profitable as possible.
Get Pre-Qualified Before you Start Looking
- Many Builders have inventory homes that they need
contracts on immediately. Many Builders will accept offers on
these homes. If you are pre-qualified you are in a much stronger
position to negotiate the best possible price than Buyer’s who
have not gotten their financing in order.
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