Models are typically finished with granite and marble, undermount sinks and hardwood floor laid diagonally but such features may not be considered standard, particularly in smaller or less expensive units.Upgrades As you can imagine, the cost of upgrades can vary considerably. Developers commonly charge their cost plus a 20% mark-up for upgrades; others may charge even more.
Try to determine the costs when you and your realtor are writing up the initial offer. By determining all costs during the contract period you reduce the chance that upgrade costs will exceed your budget.If you keep in mind that many new construction units are not ready for occupancy for a year or two, you will understand the importance of having all upgrade costs in writing as part of the initial contract ? at today’s prices rather than at costs calculated at inflated prices one or two years later.ParkingOne of the essential elements of resale value is parking. In a loft conversion or a high-rise building, parking can vary from approximately $25,000 to as much as $60,000 depending upon the level of luxury of the building and the availability of parking in the area.Since parking spaces have dramatically increased in value, you should seriously consider purchasing a space whether or not you currently own a car.
Without parking, the later sale of a unit may be more difficult than that of a comparable unit for which parking is included in the price.Delivery DateAlthough your contract will specify a delivery date, provisions in the contract will often allow the developer to deliver your unit much later than the specified date without penalty. If this is an important issue to you, you should keep in constant contact with your Realtor during the construction process as delivery dates can be delayed for as long as a year and, in rare occasions, even beyond that. You should also speak with your attorney and incorporate terms into the contract so that your interests are protected in the event this should occur.Working With A Realtor Purchasing a new construction residence can be a rewarding experience and a wise investment. But there are definitely nuances involved in purchasing new construction, including the track record of the developer, the number of "flippers" purchasing in the project, and the percentage of sold units.You will be best served by using a Realtor who is familiar with new construction market, the various developers and their product.
With your Realtor at hand to answer all your questions, your interests will be represented and protected in all communication with the developer.If you rely on a real estate professional, you will spare yourself a great deal of the aggrevation associated with purchasing a new construction home and, best of all, this representation will be at no cost to you - the developer pays your Realtor’s commission.About The AuthorSheldon Salnick is a Realtor with Rubloff Residential Properties. He has worked with new construction buyers for the last 13 years and has represented over $200 million in new construction.
https://www.pmifoam.com/product/hf-data-sheet/cascell-hf.html
Try to determine the costs when you and your realtor are writing up the initial offer. By determining all costs during the contract period you reduce the chance that upgrade costs will exceed your budget.If you keep in mind that many new construction units are not ready for occupancy for a year or two, you will understand the importance of having all upgrade costs in writing as part of the initial contract ? at today’s prices rather than at costs calculated at inflated prices one or two years later.ParkingOne of the essential elements of resale value is parking. In a loft conversion or a high-rise building, parking can vary from approximately $25,000 to as much as $60,000 depending upon the level of luxury of the building and the availability of parking in the area.Since parking spaces have dramatically increased in value, you should seriously consider purchasing a space whether or not you currently own a car.
Without parking, the later sale of a unit may be more difficult than that of a comparable unit for which parking is included in the price.Delivery DateAlthough your contract will specify a delivery date, provisions in the contract will often allow the developer to deliver your unit much later than the specified date without penalty. If this is an important issue to you, you should keep in constant contact with your Realtor during the construction process as delivery dates can be delayed for as long as a year and, in rare occasions, even beyond that. You should also speak with your attorney and incorporate terms into the contract so that your interests are protected in the event this should occur.Working With A Realtor Purchasing a new construction residence can be a rewarding experience and a wise investment. But there are definitely nuances involved in purchasing new construction, including the track record of the developer, the number of "flippers" purchasing in the project, and the percentage of sold units.You will be best served by using a Realtor who is familiar with new construction market, the various developers and their product.
With your Realtor at hand to answer all your questions, your interests will be represented and protected in all communication with the developer.If you rely on a real estate professional, you will spare yourself a great deal of the aggrevation associated with purchasing a new construction home and, best of all, this representation will be at no cost to you - the developer pays your Realtor’s commission.About The AuthorSheldon Salnick is a Realtor with Rubloff Residential Properties. He has worked with new construction buyers for the last 13 years and has represented over $200 million in new construction.
https://www.pmifoam.com/product/hf-data-sheet/cascell-hf.html
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