Buying New Construction in Myrtle Beach: What You Need to Know

New construction is on the rise in Myrtle Beach. Bulldozers and crews are busy all over the beach. Buyers are seeking open floor plans, upgraded kitchens, and modern bathrooms. Completing a new build transaction is completely different than a resale home. Here are a few tips for buyers who are considering new construction:

1) Builders think big picture. When making an offer on a new construction, there is not much wiggle room. The cost of the home is completely itemized as it is built, which is how the builder comes up with a price. Generally, I have found that the idea is for prices to go up as a series of homes are completed. Negotiation is not the same as it is with an individual owner who may be willing to accept less than asking. Builders have a set price, and they do not want to sell it to you for less. If they do, then everything they sell after that will be compromised. They may not come down on price, but you might consider asking for upgrades or extras and see if they will go for it.

2) The early bird gets the worm! If you are interested in a certain neighborhood, it is a good idea to invest early on in its development. Builders will price the first few homes low, even offering incentives to get them sold. Once a few sales are secured, prices go up, creating instant equity for those that got in early.

3) Be patient. Building a new home is exciting, but it does take time. And you want it done right, don't you? If you are considering new construction, be sure you keep an open mind. The contracts and procedures are more in depth than a resale transaction. There are a thousand tiny details to decide upon throughout the process, including colors, fixtures, and finishes. Delays happen due to weather, construction material delivery delays or mishaps, and unforeseen circumstances. If you are on a specific timeframe, and must be moved into your new home by a certain date, new construction may not be your best bet.

4) The on-site agent does not have to be your agent. New neighborhoods will normally have an on-site agent. They work with and for the builder to assist you in getting everything you desire in your brand new home. However, if you are already working with an agent, be sure to let the on-site agent know. In fact, it is still a good idea to use your own buyer's agent in a new construction transaction. The on-site agent works for the builder and is loyal to them first; while a buyer's agent works for YOU, keeping your best interest as priority.

For more information on all of your options for new construction, contact me at 843-424-0995 or rachel@kingoneproperties.com

Are you or someone you know ready to buy or sell? It would be an honor for me to help you through this important decision. You're WORTH it!