Post # 1
I will keep this as short as possible: DH and I have been actively looking ( on and off now) for a good while. We live in a very affordable area, but the problem is… the inventory is SO low, we aren’t finding much that we really want to call ” home”. There’s a ton on the market, but it is either just above our pricepoint, or it is in need of so much repair/renovation work, that it gives me a headache just thinking about!
We DID look at one last weekend that is on both of our minds, and I know that it is one we are seriously considering. The only problem is… it is overpriced and the builder isn’t willing to budge AT ALL ( we actually talked to him while we were touring it). It is a new build, so I knew going into it that there wasn’t going to be much wiggle room, but it is really irking my husband that this house is priced so high ( per sq ft) vs the other homes in the neighborhood— and that it is on the smaller side ( 2000+ sq ft, others are around 2400)
I think that even though the builder made clear he wasn’t interested in budging, we should still make an official offer. Has anyone had any luck with negotiating with new construction? Our realtor doesn’t seem to think he will bite at all, but I look at it as a business transaction. The builder has zero emotional attachment, and just wants to make a profit. We are willing to give him MOST of the profit he is looking for, and FAST. We are already all preapproved, money ready for closing costs, home inspector lined up for when we make an offer. I think we should go for it, realtor/DH thinks this guy is going to just shoot us down. DH is still interested, but said we should hold off a few more weeks or a month before trying again. Any suggestions?
Post # 3
i’d make an offer, I agree with your realtor that it prob wont work but at least youll know.
We got to the point in our home search where we just wanted it to be over and we probably overpaid a little.
Post # 4
@LGenz: I think we are creeping to that point, either that or bite the bullet and build. If we would have decided to build from the get go, we would be IN the house by now lol.
Post # 5
If you make an offer, the worst he can do is turn it down, and then you’re not really any further behind than if you didn’t make an offer at all. It’s worth a shot, right?
Post # 7
I would make an offer. It isn’t going to harm anything. I would ask your Realtor when the best time would be. Since you just talked to the builder, it might be best to wait for a little while. I’m thinking a week, but that’s just my initial instinct.
Post # 8
We bought an inventory home from a builder and paid 96% of the asking price which is what our realtor told us to expect to pay for a house that wasn’t new construction. We also got our refrigerator thrown in which was the only appliance not already included. We got a few other things thrown in as well but they were minimal. Our builder also paid our closing costs but that was on the table to begin with it wasn’t negotiated.
Post # 9
If inventory is low, they don’t have incentive to budge. Supply and demand – low supply + high demand = higher prices.
I think you could put in an official offer just to see what happens. Or you could keep saving money. This might not be the right time for you to buy.
We are having the exact same inventory issues in the Bay Area, so I feel your pain!