Home Remodeling: How to negotiate with your partner
Reem Hassouneh
4 years ago
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remodeling1840
4 years agoRelated Discussions
How Do You Negotiate Price of Brand New House?
Comments (7)We negotiated a price reduction on the house we recently built. It was from a single builder upscale neighborhood of semi-custom to custom houses. What we did was take one of their floor plans and met with them on several occasions and had them change the floorplans/elevations to our liking (in our case we added square footage, rearranged the floorplans and changed the front elevation). They then gave us their proposal of what it would cost with the changes. We could tell that they were really anxious to sell. So we made an "offer" to them for about 10% off their total price. They accepted. Our thought was that it never hurts to ask....See MoreHow Do You Negotiate Price of Brand New House?
Comments (10)In our area, builders are beginning to negotiate on spec houses because inventory is too high. However, they are not yet negotiating on to-be-built houses. The savings on buying an existing new house may be worth the trade off of not getting exactly what you'd like. For example, a couple I know recently bought a builder's spec house that was originally listed for $849K for just $699K after some intense negotiating. They loved the lot and location, but weren't entirely wild about the house. However, they believe they can put $50K+ into changes and upgrades and still have a good value. A RE agent friend has recently persuaded a few builders to come down $100K - $200K on houses reduced to $1.1MM - $1.3MM. These same floorplans sold two years ago for $1.5MM - $1.7MM with similar finishes and on equivalent premium lots, so you can see that the builders thought they had already reduced their prices to rock bottom. Folks who insist on building here are not seeing any reductions. Whatever savings there may be in materials costs are more than being offset by increased fuel prices, and we're seeing higher labor costs and higher delivery fees. That's a long, round about way to get to the answer. Sorry. I think that if you find a new house that you like well enough you could try to get a bargain by putting up a large earnest money deposit along with an offer to close quickly, and give the builder 24 hrs. to respond. If the answer is anything but yes, walk away and try a different builder. If you really love the first house, give it a week or two and try again, perhaps with 10% or 20% earnest money to show you mean business....See MoreEarly negotiations with people remodeling home for sale
Comments (8)Unless you ARE treating them like a GC, and interviewing them as to their skill level and experience, I would NOT want them doing any alterations to the home. It's much better to get things done the way you want 100% after the sale than to rely on flippers to do anything other than use all surface and no substance materials to do the project. Typical flippers use "solid wood" Chinese sourced 4K worth of cabinets that last about 2-3 years, but the specs sounds really good to those who don't know what to look for. An actual kitchen remodel averages 50K in the US, with 15-20K worth of cabinets. There is no way that anyone doing a remodel for sale will use the same quality components that you would use if you were doing the project vs. them trying to do it as cheaply as possible to maximize the return....See MoreKitchen Remodeling Contract Negotiations
Comments (23)lazygardens and debrak - Thanks for the support! Snookums - Those are the numbers he provided. The cabinets I couldn't believe. They are a small company from a rural area, family owned. Everything is hand-crafted and gorgeous. Glowing reviews. I didn't even know they existed. If I did I might have just subcontracted everything and done it myself. The man from the cabinet place seemed to be like the only one who knew what I wanted. He provided a detailed estimate with comments and came to my home to explain how they would install and have me inspect everything prior to installation. We thought about dropping the contractor and just working with him and finding other companies for granite, etc. Since he works through our contractor, I doubt he would sabotage his relationship just to do our cabinets or else I would ask him. Certain things like the granite are special pricing because the company has a deal with contractors on 6 types of granite (also my friend's parents happen to own the company which I didn't know at the time). For the flooring and backsplash, I talked with the company directly and that is what she quoted for material and installation for our size kitchen. Everything else the contractor will be doing. Kitchen Size = 20' x 10'. It is an awkward shape. JoaniePoanie - I'm afraid of the idea of overages. Also, he charged the $500 at the beginning of the "design and final estimate" process. It was after his ball park estimate. His ball park was looking at the kitchen and spitting out a number (it was free). Gooster - Those are the numbers he provided. Cabinets, Flooring and Backsplash, and Granite are all separate companies he works with. Also, I think it is worth mentioning last year we researched several contractors. Received estimates from about 4. And we only liked two. It was funny the other company we liked gave us a figure of $24.5k (detailed and precise). However, we liked this guy better because he lives in our community, felt it would be easier to work with him, and he came in at our budget around $18k (rough estimate). Sorry for the super long posts. But I know I like nitty gritty details. :)...See MoreReem Hassouneh
4 years agoJAN MOYER
4 years agolast modified: 4 years agoReem Hassouneh
4 years agoJAN MOYER
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4 years agoHome Art Tile Kitchen & Bath
4 years agoJAN MOYER
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4 years agoCawood Architecture, PLLC
4 years agoJanie Gibbs-BRING SOPHIE BACK
4 years agoReem Hassouneh
4 years agoReem Hassouneh
4 years agoJanie Gibbs-BRING SOPHIE BACK
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4 years agoSina Sadeddin Architectural Design
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4 years agolast modified: 4 years agoDiana Bier Interiors, LLC
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