If you are considering building a new family home, there are a number of aspects you would negotiate on with your builder, in the initial stages of the project. In most instances, the primary point in the negotiations tends to be the actual contract as money is involved.
The negotiation process can be quite challenging and drawn out. Aside from this, you also need to ensure that you get a good deal. Your contract should include all the important clauses which cover your specific requirements in your new home construction. Here are some tips to negotiate with new home builders:
The very first thing you need to do is ensure that you get a detailed written estimate from your builder. This estimate should include every little cost involved in your project, such as the permits, labour,and material costs etc.
Depending on your preferences, you can opt to purchase the materials yourself; this can help reduce the overall cost of the project. Check whether your builder receives discounts from certain suppliers. If they do, it can prove to be more beneficial to get them to handle material procurement as well.
It’s a good idea to discuss with your builder whether there are any steps they can take to cut costs without impacting the quality of the materials or workmanship. Sometimes, changing the start date or extending the project completion date according to the builder’s convenience can help reduce the cost of your home build. This gives the builder the flexibility to work during a lean period and they are more open to providing discounts on labour
Certain builders would also reduce the cost estimate if you are willing to offer them some advertising space in the front yard of your new home.
As you can see, there are a number of different ways in which you can negotiate with your new home builder. Based on your specific requirements and on how open the builder is to negotiations, you can position your request for suggestions to help reduce the cost of the project for you.
Most credible builders will be open to a certain amount of negotiations. However, it is important to make sure that any kind of cost-cutting that takes place is not at the expense of quality. After all, you want your home to be stable and solid and that all the features in the indoor and outdoor areas of your home should last for a number of years.