Looking for new homes and affordable spec homes in Maricopa?
There are 4 types of real estate transactions in the state of Arizona that make up 98% of all transactions. They are new build/spec homes, short sales, foreclosures, and resales.
New builds, or new homes, are generally homes where the buyer sees some model homes, finds the perfect floorplan and enters into a contract to have that home built on their choice of the builder’s lot! During the building process the buyer will go to the builder’s design center and pick out carpet, lighting, fixtures, counter tops and appliances! The design center prices of upgrades quickly start to add up! Best bet is to make a budget and build to that price!
Very similar to the true new build is a “builder spec home”. A spec home is either a home that was built for a specific buyer with their personal choices of carpets, counters and finishes. The buyer changed their mind or could no longer qualify for the loan. The home is now discounted below a new build price to create urgency with a buyer and also because the buyer can’t make selections about upgrades since they have already been ordered or installed.
When new homes are not an option, a spec home may also be a home that is completed or in process and the upgrades and finishes were chosen by the builder’s design center. They often choose neutral items and colors. They upgrade the items that many buyers choose. These homes are built for a quick sale for buyers that have the urgency to buy NOW!
A spec home may already be complete. A prospective buyer can actually walk through it. The buyer will see the finishes, the lot, the garage. All of it! The spec home may also be in the building process. The home may be at frame stage, or maybe at drywall. In my opinion, a completed home can purchased for more of a discount than a home in the building stage.
Throughout the years I have worked with buyers that absolutely want a home that has never been lived in. It was a preference to them. While we were looking for homes, I focused on new build and spec homes only. Generally new/spec homes can be in the same price range as a resale. There are a few items that are pros to the new build. Warranty is very important. The homes have at least a 1 year top to bottom warranty, maybe even longer. The land the home was built on has also been treated for termites with a 5 year warranty.
When available, completed new homes will be discounted more than one at framing stage.
As I mentioned earlier, some buyers focus on new homes/spec homes because they don’t want to live in a used house. There are a few tricks of the trade when dealing with the builder. Here are just a few. Call me at 602.206.9644 or email BrianPetersheim@aol.com for more indepth analysis of new homes and affordable spec homes in Maricopa, AZ…
• Closing costs/cash discount
• Free upgrades/credit at design center
• Free/reduced lot premium- cul de sac, lake, view fencing
• Please just ask. I have sold over 150 new builds/spec homes in the past 8 years!
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