New Construction FAQs!
If you’re in the market for a brand new home with all the desirable qualities we’ve come to expect in new, modern residential construction, you have a slew of options, and maybe a ton of questions, too! We tackled the most frequently asked questions posed to the builders and sales associates in the master-planned community of Crystal Valley and have the answers right here!
How long does it take to build a new home?
Homes are built faster in Colorado than other regions of the country according to Eye On Housing from the National Association of Home Builders. Crystal Valley happens to be in a region where the average completion time is six to seven months and the waiting period for permits – also the shortest – is about 15 days.
Can a home buyer negotiate the price of a newly-built home?
That’s tricky. Home buyers are used to negotiating with the sellers of used or existing homes (unless it’s an intensely competitive sellers’ market), but builders of new homes don’t often drop their prices, despite market fluctuations. Builders are sometimes willing to negotiate on the back end (add in an extra option) rather than discount the price of building a new home. One reason is that builders don’t want to aggravate their current customers who have signed a purchase contract by selling an equivalent home to a future buyer for less money.
Are move-in ready home prices more flexible?
If a completed home is sitting empty as part of a builder’s quick move-in inventory, you can make the builder an offer — and it may or may not be accepted. One reason is buyer competition. These homes are hugely popular and in short supply and if someone wants or needs to move in right away, they may be willing to pay a higher price. It depends, too, on the season. Inventory that’s been languishing in the gloom of winter may have less competition than a quick move-in home that’s ready right as the buying frenzy begins in early spring.
What are builder concessions?
In simple terms those are extras that can be negotiated to close the deal. Some builders offer to pay closing costs or pay for optional features such as a finished basement, a sunroom addition or stainless-steel appliances. To get those extras, buyers are usually required to work with the lender recommended by the builder, as well as the builder-chosen title company. To finish a basement in the Castle Rock area costs between $45 and $65 per square foot — less if you’re doing the work yourself. That might be a good number to keep in mind as you house hunt for a new build.
Should we use a real estate agent?
If you have the time to research a property, the market, the builders and homes similarly priced in similar neighborhoods — and have negotiating skills, you don’t necessarily need a broker. But on the other hand, an agent working on your behalf may be able to negotiate items you might not think of, based on experience and industry knowledge. Crystal Valley builders are broker-friendly we tend to see lots of brokers bringing clients to our community. Since the builders pay the broker’s commission, there’s not much of a downside for buyers.
Is it more cost-effective to buy an existing house?
That all depends on the home, your budget and your needs. In cities like Denver and surrounding communities where homes – new and used – are in high demand, it may be cheaper to build than to buy and renovate. And since older homes not only need more TLC, but also have characteristics that today’s home buyers want to change, like smaller rooms and closets and cut-up floor plans – opting to build can be an agreeable choice. In a master-planned community like Crystal Valley, you’ll find an array of appealing amenities with access to good schools, close proximity to I-25 for commuters and a variety of open and spacious home styles with prices for nearly every budget.
Which lots are worth more?
Lots add or subtract to both the cost and value of a new build and the best lots come at a premium.. Positive attributes might include a flat lot, corner lot, view lot, larger lot or a cul-de-sac lot. Negative attributes might include close proximity to a cemetery, industrial park, heavily trafficked road or other undesirable land uses – none of which, by the way, you’ll find in Crystal Valley!
Buyer-Friendly in Crystal Valley
The builders in the master-planned community of Crystal Valley want to answer all the questions home buyers have about purchasing a brand new home. The process can seem overwhelming but the knowledge and experience our sales associates bring to bear makes it an enjoyable and rewarding process. Visit the models and move-in ready homes from Richmond American Homes, Kauffman Homes and D.R. Horton – ranch and two-story designs, priced from the $300s.