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January 15, 2013
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New Home Building FAQ

Many people looking to buy in Stapleton are looking to build a new home with one of Stapleton’s builders, rather than purchasing a “resale” home that is already built. Since building a new home is so different than just purchasing an already existing one I’ve created this Frequently Asked Questions (“FAQ”) page to help people get a sense of the process before they decide if building a new home is right for them. This list will grow and change over time. Check out the questions and answers below and if you still have questions or you’d like to chat about my services as a Realtor you can reach me at (720) 545-9003 or joe@synergyret.com. – Joe Phillips, Real Estate Broker, Synergy Real Estate Team


1. Can you give me an overview of the new home construction process from A-Z?

2. Can I negotiate with the new home builders in Stapleton or are their prices set in stone?

3. Should I buy a new home or should I buy an existing home?

4. Should I have a Realtor when I buy a new home?

5. What builders are in Stapleton and what do they have to offer?

1. Can you give me an overview of the new home construction process from A-Z? Sure, I figured a lot of people would want an overview of the whole process so I shot a video series outlining each step along the way. My family and I recently built a new home with New Town Builders in Stapleton so we used our experience as an example for others to learn from. The video series shows every step along the way from the first time you go to the model homes all the way to how things work after you close on the new home and move in. Hopefully by seeing the whole process in advance some of the fear of the unknown will go away for you. To see the whole video series ” target=”_blank”>click here.

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2. Can I negotiate with the new home builders in Stapleton or are their prices set in stone? I hear this question a lot and I think the answer is “it depends”. (The typical attorney answer – I know) It depends on the real estate market and what options both parties have rather than the deal at hand. Meaning, does the buyer have a lot of other attractive housing options other than this new home? If so, they have negotiating power and can ask for some concessions (whether that means a lower price, some closing costs paid by the seller, etc). If the builder has other options besides your offer, meaning if they have a lot of other buyers wanting their homes, then they have negotiating power and their answer is going to be no when you ask for concessions. Currently the builders have the leverage because buyer demand is high and if you don’t want to pay their price someone else will. That doeesn’t mean we can’t try, it never hurts to ask for something you want in real estate. That said, don’t get your hopes up for discounts from the builders at this time.

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3. Should I buy a new home or should I buy an existing home? This one depends on your situation and what’s available in the market at the time. If anyone asks me that I’d ask them some of the following questions. First, have you looked at all the options for both new and resale homes in Stapleton? I think it’s always a good idea to go see both so you can look at all the pros and cons in person before you decide. Second, when do you want to move in? If you need to move in soon a new home will likely not be a good fit. From time to time you’ll find a builder who has a home that is nearing completion without a buyer but that is rare. Typically it will take you 4 months to a year to complete a new home from the time it’s a dirt lot to the time you move in. Typically the higher the price point the longer it will take because in the higher end homes the design and build process takes longer. So if you’re ok waiting new homes may work but if you want to move quickly a resale is the way to go. I’d also ask if the buyer wants to pick out all the details of the home or if they are ok with what someone else has selected? If you are one who enjoys putting your touch on a home and picking everything out the new home process is fun but if you don’t know what you want or you get overwhelmed by a lot of decision making a new home may not be for you. From the flooring to the carpet to the fixtures…it can get overwhelming at times. Lastly, I’d let buyers know that new homes sometimes come with some hidden costs compared to resale homes. On a new home you’ll need to purchase window coverings which can easily cost $4k- $15k depending on the home. I think it’s easy to also spend a lot of money on new furniture when you purchase a new home compared to an existing one. (The new house can make your existing furniture seem old, even though it really may not need to be replaced)

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4. Should I have a Realtor when I buy a new home? Obviously I’m biased on this question, I think you should have a Realtor. Of course I’d love for it to be me but if it’s not there are other brokers living and working in Stapleton that would serve you well. Why not have a Realtor on your side? The builder is going to charge you the same amount either way, if you don’t have a broker then they don’t have to pay your broker and they just pocket the money. A Realtor can help you along the way, explain things for you, and add value to the process through their previous experiences. And it’s paid for by the seller, so why not have one? If you’re adverse to Realtors maybe you had a bad experience in the past. In that case I’d say chat with a few and see who you’re comfortable with and who you think you’ll mesh well throughout the process. It is an involved and long process so find someone you will work well with.

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5. What builders are in Stapleton and what do they have to offer? There are currently 9 builders in Stapleton. Stapleton is a master planned community so the developer, Forest City, has to approve all the builders and sell them lots. So you won’t see people picking their own builders, they’ll need to chose from one of the nine. What the builders have to offer is always changing so I do updates on a regular basis to keep people posted. There is attached product (townhomes, condos, carriage houses) ranging in price from the $100k’s to the $500k’s as well as detached single family homes ranging from the upper $2ook’s to the $1 million + range. The heart of the market seems to be homes in the$400k to $500k range. For my latest update on what all the builders have to offer click here. If you want to chat about your criteria and price range I can point you in the right direction to a builder that fits your needs pretty quickly. It’s on every page of the blog but just in case I can be reached at (720) 545-9003.

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