Monday, March 11, 2013

Purchase Agreement signed

Purchase Agreement signed
 We signed our contract over 2 months ago but just now started to blog about it. As of today, We don't known when construction will start but was now told completion date around July (was June when we signed the contract).  All options/selections are finalized and the 10% down-payment paid.

I've been reading other blogs and want to make sure I have something to blog about before starting one.  We signed our purchase agreement right at the end of 2012 (Dec 31).  It was the last day for end of year promotion which includes "finished basement" and "morning room".  
Looking back at it now, we didn't need to rush it because the current promotion (as of Feb, 2013) is similar which includes "Finished basement" and 10k toward options.  I think the final price will be about the same with either promotion.  

My advice is don't try to rush making a decision based on builder's highly marketed promotions.  This is the biggest purchase of your life so take your time.  All options and upgrades can be negotiated, depending on the current market in the area and how bad they need to sell you a home.  
On the other hand, you also don't want to wait to long because the base price (house without options/upgrades) will go up over time. I've read on another blog that they usually increase the base price after a certain number of sales have been reached. 

If you find a lot you like then don't hesitate because chances are someone else will want that lot as well.  Lot location is more important because once its gone, it's GONE.

1 comment:

  1. You're right. What you're able to negotiate is going to depend on how well sales have been in the last month or so. We're lucky we bought when sales were slow.