We Look Out For Your Interests
BRC listens to your needs. All new homebuyers want to find a quality new home with good standard features at the lowest possible price. They are looking for a builder they can trust who offers a floor plan and community that matches their lifestyle and complements their budget.
Informed buyers evaluate overall value, not just purchase price. There are many elusive, yet quantifiable costs you may want to have reviewed prior to investing in your new home. For example: Can you evaluate the true costs of your financing alternatives? How much are you really spending for each square foot of your new home? Do you know how various building materials will affect your utility bills?
Location, floor plan, construction materials, systems, appliances, lot quality and grading are just a few considerations. The school system, community ambiance, local “supply and demand,” and even your new home’s compass position can affect quality of life and investment potential. “Saving Thousands” is not only measured by up-front costs, 1% Cash Back* or special offers. In fact, it can be professionally engineered during every stage of the purchase process.
One of the most significant investment variables is your choice of mortgage companies, loan officers, mortgage programs and the terms and conditions of financing. Are you dealing with a mortgage banker or broker? What kind of mortgage is best for your financial plan? What is the likelihood your mortgage will be held or sold by the mortgagee? What is the APR on your note? Indeed, the questions seem almost endless. Understanding all aspects of your new home investment is paramount, often more important than the purchase price itself. BRC’s preferred lender, First Horizon Home Loans was rated one of America’s top 5 mortgage companies in the 2004 J.D. Power and Associates Customer Satisfaction Surveys.
These are just a few of the hundreds of considerations BRC will help you evaluate. Here are 5 potential pitfalls to be aware of prior to making your new home investment:
#1 Pitfall: Not evaluating all costs.
Try to remain as logical as possible not allowing emotions to “write checks your wallet can’t cash.” The more attached you become to a model home and its luxurious options, the greater the likelihood for exceeding your budget. In effect, your new home investment should be commensurate with your present and future housing needs. New home valuations are inconsistent, not “fair traded,” as is for example, the automobile industry. The largest variables are usually land costs, luxury options and mortgage choices. Like most companies, homebuilders are in business for profit and deservedly so. Homebuilding is extremely complicated, very difficult nd involves extraordinary risks for builders. Remember your investment is the heart of the building machine. You have negotiation power and choice alternatives, more than you may realize. It is well advised to process your new home thoughts professionally prior to making the investment, particularly if it is free of charge. Experienced unbiased new home purchase analysis is the first step to saving thousands.
#2 Pitfall: “Caveat Emptor,”
On-site sales associates represent builders, not consumers. This does not mean that you will be treated unfairly. Most builder sales people are fair to both buyer and seller and are usually gifted with engaging personalities. They are obligated to represent and protect the builder, sell you a new home and interface between you and the builder throughout the process. However, unlike California and Florida, builder-employed salespeople in Virginia and Maryland do not require state licensure and are not subject to regulations mandated by the state real estate commissions. In sum, it is wise to secure an independent licensed new home professional dedicated to representing and protecting your interests… fair to both sides, yet working on your behalf.
#3 Pitfall: Not choosing the ideal mortgage situation.
New homebuyers can be so engaged with the dream of their new home they may underestimate the advantages of affiliating with a mortgage finance professional before engaging in discussions with homebuilders. This is like “putting the cart before the horse!” It is prudent to “pre-qualify” for a mortgage prior to engaging in contract negotiations. Homebuilding is not a frequent business venture for most folks, therefore the perspectives needed to accurately evaluate a mortgage company or a loan officer’s integrity may be precluded. Seasoned mortgage experts know the financing guidelines, assesses financial profiles quickly and match buyers with the ideal mortgage programs. Their follow-through skills are exemplary and they are often affiliated with recognized lending institutions. Work with a loan officer recommended from a source you trust. A mortgage is more than just a vehicle for new home investment; it may be the most significant piece of your overall financial plan. If you are not versed in real estate finance, mortgage products or a mortgage company’s reputation, how could you know if your application is being well processed? Seek advice from a proven reputable source before you invest.
#4 Pitfall:Not finding your best new home value.
Let’s face it – this may be the largest financial investment of your life, and for many, the dream of a lifetime. The Washington metropolitan area has approximately 400 home builders serving over 40,000 buyers per year and includes more than 2,000 communities from which to choose. Whether it be your new home search or mortgage application, do everything possible to clarify your goals and research your financing options. It is a big decision and the Washington metropolitan new home market is large and can be overwhelming. Seek qualified counsel to locate and finance your new home. Secure “peace of mind” before, during and after the sale.
#5 Pitfall:Buying your new home alone.
Builders pay seasoned professionals to protect and promote their interests. BRC licensed representatives are on your side and available to assist you with every step of the process. From search to settlement, just like the builders, you too can have a new home expert protect and represent your interests. We should know – we were trained by homebuilders! We spent our first 10 years as on-site sales representatives, and the second 10 years working on behalf of the consumer. We emphasize the importance of treating both sides of the transaction fairly, providing the new homebuyer with industry and builder perspectives to properly manage their expectations.
BRC offers a custom tailored program dedicated exclusively to each client’s unique circumstance and budget. It is more than the money you can save, it’s also finding comfort knowing you have a professional doing their best to alleviate the confusions and complications associated with new homebuilding procedures.
Remember, there is no fee or charge for the service because the Washington metropolitan homebuilders compensate us for matchmaking. The cost to you is the same with or without new homebuyer representation. In fact, in most cases it is less! Does it sound too good to be true? Give us a call or e-mail today and find out how BRC can make building your new home an enjoyable, cost effective and rewarding experience.