You’ve probably been there before: A client is on the verge of purchasing a lot, and they just can’t pull the trigger because they’re unsure about the homebuilding process. They want to know how long it will take, how much work it will be for them, and of course, how much it will cost. These are valid concerns, but you can help give them peace of mind and the confidence to move forward by being prepared to talk about how the homebuilding process works.
Talking About Timelines
One of the most significant factors people consider when deciding whether to build or buy is the timeline. If a client is leaning toward building a new home but is uncertain about how long it will take, you can talk about how the homebuilding process timeline is predictable and enables them to get exactly what they want.
Buying an existing home might allow them to move more quickly, but that’s only if they are able to find a home with all the features they want, in the neighborhood they like, and within their budget. In the time it takes to find the perfect home, they could build a new one. This is especially true if they are considering a renovation. You never know what you will find when gutting an existing home, and the renovation process can take longer and be more expensive than planned.
On the other hand, building a new home has a clear process with a defined schedule. It’s true that weather and other factors beyond the builder’s control can impact the timeline, but in general, clients can plan around a move-in date. While it might seem like building a new home will take longer than buying an existing one, clients can get the perfect home within a predictable time frame if they decide to build.
Discussing Design Decisions
Some people get overwhelmed just thinking about the process of building a new home. They worry that there are too many decisions to make and that they will not make the right choices about a major investment. You can help ease these concerns by discussing an option that allows them to streamline the design process: customizing an existing floor plan.
Rather than starting with a blank slate, which can be intimidating for people who are new to homebuilding, choosing a floor plan based on total square footage, layout, and design features kick-starts the process and gives clients a clear starting point. From there they can customize rooms, add upgrades, and select all of the options that will make their home unique. This approach also helps keep the timeline tight by reducing the amount of design time required.
Budgets are probably a concern for most of your clients, and the common perception is that building a new home costs more than purchasing an existing one. This isn’t always the case, especially if the clients decide to work with a builder that allows them to build equity during the homebuilding process.
Encourage your clients to consider all of the costs of purchasing a new home before they decide whether or not to build new. If they are planning to do any renovations or make upgrades, this adds to the total cost and should be included in the comparison. If you need help predicting costs, reach out to a builder who can estimate the cost of site work. Based on this information and the cost of the land, your clients can determine how much is left in their budget to build a new home.
Building a new home is unknown territory for a lot of people, and they might feel unsure about whether or not they should do it. Understanding these common concerns can help you guide them toward a decision that could get them into their dream home. If you’re looking for a partner who can help your clients take the leap into building a new home, consider the Adair Homes Realtor Referral Program.