Mortgage Loans

[jzsnow]

I'm trying to figure out how much house we can look at with new construction. We are. Thinking of doing the layout plan that is 189,999. What is the normal amount that it goes up? I know it depends on the upgrades, but isn't there like an average?

Did anyone buy a new construction that can tell me how much over the list price they ended up paying?

[indecison]

For us we ended up about 20K over. That being said your builder should be able to tell you what the max should be that you go over with upgrades with comparables in the area. In our contract it actually had a line for this that stated we should not go over 270K and base was 240K.

[MovingForward_2012]

I ended up paying $51,000 above base price for upgrades.  My home has almost every upgrade included and it is the second to largest floorplan so I think the amount I paid is above average.

[jkwheaton78]

We ended up being about 20K - 30K over.  They should be able to give you a sheet with all options where you can make your wish list and then cut from there where you need to be. 

[tooleman694]

My first house we did zero upgrades, we paid what they asking for the barebones model. Then we upgraded it ourself over the years.

[jzsnow]

Is the barebones house that much different from the model? What is the main difference?

[indecison]

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jzsnow wrote:
Is the barebones house that much different from the model? What is the main difference?

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Most builders build models out with just about every option available. So when you walk the house you say I like this and that and you will constantly here yes that is nice and is an upgrade for X$ amount from the sales person.

[tooleman694]

Models are typically upgraded with everything.

[MovingForward_2012]

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jzsnow wrote:
Is the barebones house that much different from the model? What is the main difference?

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Well in the case of our house, we have granite countertops in the kitchen and the master bathroom instead of linoleum tile.  The ceilings are elevated on the main floor and in the walkout basement, there is a main floor balcony deck in the backyard that has stairs that take you down to garden level and entry to the walkout basement, it was prewired with a home theater system, the floors in the entryway, casual dining, and kitchen are hardwood, it backs to open space, has upgraded carpet, garage door is high quality finished wood and not metal, has Nexia door lock system, and has only one adjacent house. The base model comes with no deck, no granite, no hardwoods floors, the ceilings are lower, etc.  I know I am missing some upgrades.

[jzsnow]

Well that stinks because the highest we can go is 200,200 through naca! Guess we won't have many upgrades.