03-16-2013 06:36 PM - edited 03-16-2013 06:37 PM
03-16-2013 06:43 PM
Yea, in a nutshell you just paid sticker on a car. The 3% is great, however its something they all plan on doing anyways. When we set down to sign the contract, I negotiated blinds, a fridge, a washer and dryer, a garage door opener, and an additional 5,000 off purchase price. We had a leg up since we were buying a spec home in a development in final close out. But there is always wiggle room, some builders are willing to do more.
03-16-2013 06:55 PM
03-16-2013 08:19 PM
03-16-2013 08:41 PM
Yeah, you can negotiate. How much will vary wildly by builder and area though. We got an incentive of $7,500, and negotiated another $7,000. I'm not thrilled with it, since the same builder regularly offers $20,000+ incentives in another area. Then again, in yet a different area, this builder usually doesn't offer or negotiate ANY incentives at all.
03-16-2013 09:54 PM
03-17-2013 05:10 AM
This all really depends on the area and how fast the community is selling. The area we bought in, they are only building 3 condo buildings and they were getting snapped up way faster than their townhomes. I tried to negotiate a discount but they were selling so fast there was really no reason for the builder to offer us anything. We bought at 209k, the price on the last few units and third and final building now start at 225k. We are also a suburb of DC so our market downtown isnt as bas as some other parts of the country.
03-17-2013 08:47 AM
I'm thinking new construction, as well. However, in NJ these placing are going really fast, so not sure what negotiating power I will have when the time comes.
03-17-2013 12:42 PM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO