Expert advice on new construction purchases

It's key to have a savvy agent as your partner when shopping for new construction, and is here to help you navigate through your options in the Oakland area.

In real estate, negotiation is always an option. However, with new construction, it depends on the builder and how long the home has been on the market. Developers in new additions like to keep prices near their asking point because buyers already in the area expect new construction to be comparably priced to what they already purchased. (You'll appreciate that same courtesy if there are undeveloped lots near the home you eventually purchase!) But, depending on how far along the project is and what the market is doing at that point in time, a developer will often allow a few concessions.

Say a property has been on the market a long time and the builder has a lot sunk into it, then you have some room. The same goes for show or model homes that have been sitting for a while. However, if a home was just finished, don't count on being able to get a deal.

In cases where a builder won't budge, ask for assistance with other aspects of the transaction. Ask for them to pay a share of the closing costs, or more amenities, like an allowance for window treatments, a garage door opener, a sprinkler system or landscaping, or an extended home warranty. Or take the contrary route. If a home is nearing completion, you can often save money by passing on suggested upgrades from the builder and installing things yourself.

Just because a house is brand new, it doesn't mean that it is immune from needing repairs. Be sure to get a home inspection before purchase so that issues are handled and also negotiate a home warranty. Then, about 10 or 11 months after purchase it's worth it to pay for an inspection and get anything else repaired before the warranty expires.