Every homebuilder has a list of standard amenities and upgrades. Amenities are features that benefit the entire community like a clubhouse, health and fitness center or a gated entrance. Upgrades refer to added features or items that you pay extra for to enhance your home (certain types of flooring or appliances).
Builders will provide you with a feature sheet that itemizes their standard features. These are the items that make up the base price of the home. Normally model homes have lots of upgrades so be sure to understand exactly what will and will be included in the price you negotiate.
Ask lots of questions to be sure that you know what is being offered. There are no dumb questions. It’s your money so spend it wisely.
Use these 5 Tips to be sure you stay on tract financially:
Tip 1: If the stove is included, visit the showroom to see the model. If you’re a gourmet cook the standard model may not be adequate for your needs
Tip 2: Make decisions on upgrades early in the process – every penny counts
Tip 3: Have a good idea of what you need and want. There are two different things when it comes to upgrades
Tip 4: Upgrades are profitable for builders because the labor component is relatively inexpensive. The markup on upgrades is huge so you may want to consider making some of the changes after you move in.
Tip 5: Negotiate. Generally speaking builders need to sell quickly so if you’re stuck haggling over price, ask them to throw in upgrades at a reduced cost or for free – it’s a good way to find a win-win for both parties.