Buyer Beware When Working Directly With a Builder, Part 2



The following information is based on an interview with Garrett Kenny, CEO of Century 21 Feltrim Real Estate in Central Florida. More information can be found on their website at http://c21feltrim.com/

Builders come in all shapes and sizes. Each builder has their own unique attributes that make them successful, one builder may be known for a specific style of home, while another builder builds homes for less money but they are closer together. There is also a range of new homes that you can by. Everything from the spec home builder where what you see is what you get to the semi-custom home that you have a custom builder and are able to pick a few upgrades to a completely custom home builder.

CEO Garrett Kenny

CEO Garrett Kenny

When working with an agent, they need to be well versed, not only about the builder and home but also the neighborhood/area. A real estate agents job is also to prequalify, not start selling a model home at a base model price then have the buyer get ‘sticker shock’ when all of the costs of upgrades are factored in. While upgrades are nice, often they don’t show a great return on investment. Some upgrades are primarily for the buyers benefit and may have no real bearing on a future sales price. Garrett’s advice is to not get too carried away with the upgrades as they may not be factored into an appraised value of the home down the road.

The economy has turned around since the housing crisis of 2007, thus new construction is booming once again and is a very feasible option for many homebuyers in the market today. The Home Buying Institute recently cited that the Florida housing market will attract national attention in 2014. Why? The answers are simple. More and more people are looking for good weather, great shopping, theme park fun and sound investments. Florida has all that to offer and more. “Not only do we appeal to those in the United States but Florida has a terrific appeal to foreigner investors looking to purchase property within the United States. A lot of Florida real estate business comes from China, Canada and Latin American nations” stated Garrett Kenny, CEO of Century 21 Team Feltrim.

In order for a realtor to be successful they must fit the product to the consumer. By knowing what features are important to the buyer and what their price point is that they are comfortable in spending a realtor can be your best advocate in helping you secure the home of your dreams. The sunshine state has much to offer and has a great appeal to the young and old that being said the median home price has been on the rise.