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Buying and Selling Homes

Where would you build?

16 years ago

There are 4 builders that we are looking into in our area. 2 in the same neighborhood that we really like. We found a floorplan that we love and a lot but the builder won't budge on price. They only came down 4%. We are about 10K difference in where our stopping number is and their final offer. We told them if they couldn't move on their price we would look at other builders. We have had our real estate agent look into other neighborhoods and found one that a custom builder wasn't doing very good and sold his lots to 2 of the main builders in the area. It is a small neighborhood maybe 20-30 lots but it is closer to where we live now and my husbands work. We could probably build for 20-30K less than the first neighborhood. We found some floorplans for each of the other builders we like too but like the first one the best. Where would you build - pay 10K more than you want (already 15K more than we wanted to spend, total 25K more in the end)or build closer in the neighborhood that hasn't been developed yet? I am just frosted that the 1st builder won't move on price any and we won't take any more off, we have already taken off wood floors, ceramic floors in the bathrooms and granite in the kitchen.

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Comments (6)

terezosa / terriks
16 years ago
I don't know why you are "frosted" that the builder won't take more off the price. It is his right to sell at his price, and it sounds as if it might be the more desirable area and worth more.
Rachel Parker
Original Author
16 years ago
They are asking us to pay 12K more than what the houses are selling for. Our friend just closed on his in February in the same neighborhood and with the same amount of options paid 19K less than what they want to charge us.
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FatHen
16 years ago
Before I'd build anywhere right now I'd have to see how healthy the builder was financially. Quite a few have gone under in the last year or two, and many are still probably going to.

Here is a link that might be useful: HADD link
terezosa / terriks
16 years ago
I guess it depends on the market in your area. Does the builder have other buyers at the higher price they want to charge you?
heimert
16 years ago
I would also be wary of building in a neighborhood that's not developed, especially in this economy. You can read all the horror stories--no neighbors, no utilities, no roads, no amenities, and a bankrupt builder who won't put any of that stuff in. The difference in price is worth the guarantee those things will be there. Whether you can afford that difference is a separate question that only you can answer.

Of course, the builder may become more interested in lowering his price if the hard times continue.
lucy
16 years ago
Houses may be selling for peanuts, but it still cost the builder whatever it cost to build them.

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