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
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.