Ask Lisa About...
NEW HOME CONSTRUCTION IN PORT ST. LUCIE, FLORIDA

What are the main benefits of buying new home construction?
The main benefits of buying new construction are that you get a brand new home, and you can choose your own design, style, layout, color schemes and options you want. Often, you can pick the lot you wish to build on and, to some degree, your home's placement on the lot. In other words, you'll be able to build your "dream house." Also, a brand new home comes with the benefit of a written warranty on the building and the various fixtures and fittings such as the air conditioning and hot water systems.

What are my choices when considering new construction?
There are three main choices when considering a new construction home:

1) A custom builder - This builder starts from scratch to create a one-of-a-kind house. This is the most expensive way to build a house because of its labor-intensive design and construction.

2) A production builder - This builder recycles the same basic floor plans and tends to be inflexible regarding changes. Production houses are built in sequence, meaning that each step of the building process (i.e. foundations poured, electrical work, plumbing, etc.) occurs simultaneously on several houses. The key benefit to purchasing this type of home is affordability.

3) A semi-custom builder - This builder falls somewhere between a production and custom builder. Typically, a semi-custom builder won't change the footprint of the house, but he will add the features you want such as installing special windows or changing the height of a ceiling.

How do you charge for your services?
As a realtor, my fees are paid in the form of a commission by the seller, who in the case of new home construction is the builder. The buyer pays nothing for my services.

Does it cost more to use a realtor when buying new home construction rather than buying direct from the builder?
No. Absolutely not! Let me say that again-It does not cost more to use a realtor when buying new home construction. The builder has already included a commission in developing his pricing. If that commission does not go to a realtor, it is instead distributed internally within the builder's organization. It never goes to the buyer, not in the form of a price reduction nor in free options.

Why do I need a Port Saint Lucie realtor if I'm planning to buy new construction?
First, you want to realize that if you're working directly with a builder, he's calling all the shots and he's making all the rules. Your realtor will help protect your interests, particularly a realtor who really knows the Port Saint Lucie area. She'll help you zero in on the best builders and communities. She'll help you select a home style and options that are the best value and have the greatest appreciation potential. She'll make sure the contract doesn't contain any items of concern. She'll also assist you with the many details and decisions involved in new home construction.

Will it cost me more to buy new home construction versus a resale property?
Generally speaking, it may cost slightly more to buy new construction as it's conceivable on a resale you might be able to find a motivated seller or even a seller who has put a lot of amenities into his property that have appeal to you but may not have added much to the price. However, there are many affordable new construction opportunities, and fortunately, in the Port St. Lucie area, new construction homes happen to be priced competitively.

Is Port St. Lucie, Florida a good place to buy new construction?
Port St. Lucie and nearby Martin County present a plethora of new construction opportunities. These areas are booming, and unlike so many parts of Florida, plenty of land still exists so prices are not exorbitant. Therefore, you'll have lots of choices in selecting your new construction home in Port St. Lucie.

Generally speaking, have Port St. Lucie homes been appreciating in value?
Yes! Port St. Lucie homes had the second highest appreciation of property values in the country in 2003. Only Fresno, California beat us. Pretty impressive, no? Part of the reason for this rapid appreciation is that Port St. Lucie, Florida is sixth in the country for population growth. Buy a home in Port St. Lucie, whether it be new construction or a resale, and you've tapped into this exciting growth with great investment potential.

How are new construction prices determined?
A lot of factors go into pricing. Surely you've heard the expression "location, location, location." In real estate, that's the biggest factor in determining price, and it encompasses things like the school system, proximity to major highways and shopping, desirability of the area, etc. Other factors that affect new construction prices are a home's square footage, quality of materials used, amenities included in the home and the community and even the builder's reputation.

When is the best time to buy new construction in a community?
The lowest prices will be available before or just after construction starts at a subdivision. The sooner you go in, the more dirt and construction vehicles you have to contend with, but the more likely you are to get a better price. Also, if the subdivision is nearing completion, the builder might be eager to pull out his sales staff and get on to the next project, thus making him more willing to reduce prices. Of course, a lot also depends on the local housing market.

Are all new home builders basically the same?
No. As in any thriving industry, you'll find a wide range of vendors. In Port St. Lucie we have numerous builders constructing homes and communities. Each builder has his own style of architecture and quality standards. You'll want to work with a Port St. Lucie realtor who can point out to you the pros and cons of each builder and clue you in to a builder's reputation before you buy.

Is it a good idea to use the financing provided by the builder at a Port St. Lucie new construction development?
Often the builder can offer you a financing package that is very competitive. However, that doesn't mean you should just accept what is offered. Your realtor can help you evaluate the loan package and provide comparisons to other lenders so that you're able to make an informed decision. There's also the possibility that if you decline the builder's financing option, there may be more flexibility in the price of the home. Once again, your realtor can help you to negotiate the best possible deal.

What are some of the decisions I'll have to make in choosing new construction of a home versus an existing property in Port St. Lucie?
Depending on the builder and the Port St. Lucie community that you choose, you may be able to select your exact lot, the placement of your home on the lot, paint colors (inside and out), options (i.e. pool, tile, etc.), appliances, home décor, etc. Most people consider making these decisions the fun part of new home construction.

If I am interested in new construction in Port Saint Lucie, but don't have a community or builder in mind, what's the first thing I should do?
Call me, Lisa Villar! I'll give you lots of great information to help you make an informed decision. I'll take you to various subdivisions or to see lots for sale. Then I'll help you zero in on the property that best meets your buying criteria. Contact me today! 772-201-3159 or toll free 1-866-525-LISA.

Also be sure to check out my general FAQs on Port St. Lucie Real Estate.