What are the hidden costs of buying a new construction home in Austin? Driving down a highway in Austin, you might see billboards advertising new construction homes starting in the $500,000s. However, the real cost often turns out to be much higher once you visit the model home. Shannon Mangin breaks down the true expenses of new construction homes and how you can plan and budget accordingly.

Many advertisements reflect only the base price of the floor plan, but there are two significant additional expenses: the lot premium and upgrades. Lot premiums vary greatly, depending on the attractiveness of the lot. More desirable lots, such as those on corners or with no neighbors on one side, can cost significantly more. Choosing the right lot is crucial because you can't change its location later.

Next is the cost of the floor plan itself, which is usually the biggest expense. After selecting the floor plan, you'll face structural and cosmetic upgrades. Structural upgrades alter the floor plan, such as adding a media room or a walk-in shower, and need to be decided upfront. Cosmetic upgrades, which include choices for flooring, paint, cabinets, and countertops, are usually selected at a design center. Expect to spend about 10% of the base price on these upgrades.

While upgrades can enhance your home's appeal, it's essential to budget wisely. Overspending on cosmetic upgrades might not yield a good return if you need to sell the home soon. Not all buyers will share your taste, so investing heavily in custom designs could make it harder to sell at a competitive price.

Builders typically don't negotiate the base price of the home but may offer incentives at the design center or through preferred lenders. For example, they might provide credits at closing or help with closing costs if you use their lender, making the overall expense more manageable.

To ensure you stay within budget, consider looking at homes advertised at a lower starting price than your maximum budget. This approach allows room for necessary upgrades and lot premiums without exceeding your financial limits.

Shannon Mangin provides valuable insights for prospective buyers to help them navigate the complexities of purchasing a new construction home and make informed decisions based on their budget and preferences.

Set up a 15 Minute Discovery Call: [ Ссылка ]

Contact Us
The Mangin Team at Real Broker
Shannon Mangin and Tyler Mangin, REALTOR®
Austin, Texas
512.866.5845
🌐[ Ссылка ]
🌐shannon@themanginteam.com
🌐tyler@themanginteam.com

LET'S CONNECT!
Follow us on Instagram - [ Ссылка ]

Follow us on Facebook Business - [ Ссылка ]

Follow us on Homes.com - [ Ссылка ]

Follow us on Homes.com - [ Ссылка ]

Follow us on Linked In - [ Ссылка ]

Follow us on Zillow - [ Ссылка ]

More Information: liinks.co/the.mangin.team

свернуть