It's a brand new house, what could possibly go wrong? It's a bad idea to engage these builders on your own without representation.

What value does having an agent with new construction even hold?

I don't want to scare the shit out of buyers, but I want to scare the shit out of buyers a little bit because it's not a sandbox that you want to go into with these builders. You really need guidance because you sign that document you are going to be beholden.

You're spending money on a brand new house. There is no detail too small.

These community issues are super important 'cause once you get in it's very hard to get out.

oh, you want a new construction because it's new and perfect? Let me show you.

Jenn's getting sued after this episode. There's no doubt. all right. Welcome back to millennium. So this week we are going to be talking about. New construction. Yes. The things

that you don't know. And the things they don't tell

you, they don't tell you. And this is something a lot of people don't understand, but real estate agents in general handle what's called resale. So those are homes that have already been built, they've already been occupied, and then they go to the next buyer that is resale. New construction is just what it sounds like. Builders, building houses and there's never been anyone before. And there are usually specific agents that are not, who don't play in the sandbox. We play in. There are specific agents who just sell new construction. So we're gonna talk a little bit about how some of the mistakes that we see buyers make when it comes to new construction. Innocently. Innocently. But there is some predatory. Practices out there that we want to give everyone a heads up on and how we can best help them

Yes, I will say I had a good experience with a new construct, with a building company once and it, but that is not the normal.

no actually I would push back on that most builders if the process is followed in the right way

Most builders

Most builders are actually great to work

Yes, however, I would say as far as where it comes from like from can like from obtaining a client in the first place So I think where it starts is so good job explaining the building

thing. Thank you. Thank you, Jen.

You're very welcome Seth but so these agents that are like I wouldn't say they're contracted with these builders, but they work with these builders as like the primary agent for Thousands that are being built they have what's called procurement and,

can you repeat that? You just,

they have what is called procurement. So

much. Wawa coffee,

too much Wawa coffee, not enough meds,

podcast fueled by Wawa

yes, sponsor us, um, I love you, I'm from Delco, um, I remember your first store. my God. There I go. All right.

I'm sorry. I'm sorry. Your brain

procurement,

keep forgetting your brain meds are on back order. So

they work for the builder. I

Let me ensure that it should interrupt you one more time.

do you really think that's best?

All right. Continue.

Okay. Yeah. Let's call it procurement. So the agent works for the builder. That is very important, so I want you to take mental note of that. I'm going to walk you through a scenario. You're on the internet. You may not have considered new construction before. You haven't really talked to your agent much about it, but you're like, Oh, you know what? I actually, I want to go see this. You fill out your little form online of like, schedule a tour. You say, Hey, Realtora, I think we're actually going to be going to this place to go see it.

Oopsie daisy, that's a big mistake.

We no longer get to represent you. what do I mean by that? So with procurement, once the builder gets your information from you and not your agent, They now get to say that they procured you and got you in as the client without any assistance So now they get to represent you but keep in mind a lot of people also think I don't need an agent for new construction. What are they even gonna do?

you do

Keep listening. We're gonna talk about it So they get your information you think well, I guess I don't really need an agent. You feel bad for your agent. Oopsie doosie. Sorry But you go in, but keep in mind, the agent, while they say, works for you, they work for the builder first. They work for you second and, barely, so they're always going to do what is in the best interest of the builder because that is who they really work for.

yeah So in the state of pennsylvania which is called dual agency where an agent represents both the buyer and the seller

And some states do not

And a lot of states don't allow it and I think that as time goes on there's going to be less and less of it Because there's just too much of a conflict of interest and You guys can imagine the conflict, right? I have to represent the buyers, the builders best interest and the buyers interest at the same time. But those two things divert, converge often in a real estate transaction, especially when you're negotiating about price or terms or conditions. in the state of Pennsylvania, they are still allowing listing agents or builder agents to represent buyers. And yeah, when they get your information, that's considered procurement because then you can't put all your information on a website or stop in a model home. and that kind of makes sense too because it's like, you know, oh I register on a website It's like oh wait, but I have this realtor. I have this realtor So I can see the point that the builder is making but in just from a practitioner standpoint, it's a bad idea to engage these builders on their on your own without representation

So you might think, like, why wouldn't they just tell you that upfront? because there is a commission amount and if they get to represent you, they get double the commission. They get both commissions versus having to give half of it to your agent. now we can go into what value does having an agent with new construction even hold? A lot. I've done new construction deal. so when I say that I had a really good experience with this building company, I will say my buyers. and it just common sense, like even like just pop into a model home, boom, you risk not being represented by your agent. You fill out that form online. Boom. You risk not being represented by your agent. innocently, and it's because we didn't have that conversation with you to warn you about that. And that's what this episode is for, but, my buyers did something similar because we had taken new construction off of the menu and then they did. And they're very like quick moving. They're very decisive. And I love that so much. They're wonderful people. and they happened to find something and they were like, Oh yeah, no, I already reached out to them. you're a good thing. They were helping. And I was like, don't do that. Don't do but they were great. I did follow up. I said, how long ago did you talk to them? She said, I talked to her earlier this afternoon. And I just crossed my fingers, held my breath and reached out to her myself and said, hi, I'm Jenna Nesky. I represent the, sorry. She like, she may not have mentioned it. we haven't necessarily had this conversation, whatever. And she was like, you're good. I put you in as their agent and I was still able to represent them. So that was okay, but not everybody's going to do that.

and this is not about shitting on builders, like builders are incentivized to do the things that they need to do. Most builders, like actually in process and in transaction are pretty decent to work with because, we talked about on another, episode about how flippers, if they work locally, they wanna maintain their reputation. Builders generally don't wanna be seen as a pain in the ass because. when the market shifts and they really need buyers to come in. They're going to want those relationships with the realtors.

I'll say too, as far as new construction goes, while we're talking about who's getting paid, what, just know like your realtors doing this for your behalf, we do not make what that, so even if we do get to represent you at the end of the day and at that settlement table, the builder's agent is still getting so much more because any there's a Some pros to working with new construction, where if you use like their lender versus yours, they'll give you a massive incentive, off of the purchase of your house or you get like a free deck or you like, whatever they give huge incentives, sometimes upwards of like 10, 000 off, 16, 000 off, whatever, that comes off of what's called the base price and we don't get paid off of what you end up paying. For that house we get paid off of the base model and any incentives that you get gets taken off of our base price So we're looking out for you entirely. This isn't necessarily the biggest payday for us necessarily it is for them But we just want to make sure that you're represented

Yeah, and that's the other thing. i'm glad you brought price because that is the beat and switch So you'll have somebody who's like looking 000 or 500 000 because there's a really shiny object. They put it on realtor. com.

at,

yeah, it says 500, 000. It's Oh yeah. But like you like a roof and walls and a window.

Doors.

Oh, but you went door knobs. Oh, that's an

You want poles on your drawers?

Oh, it's Oh, you want, a banister. Sure. we'll get you that faucets, the price that you see online is not the price. That, you will eventually pay for the house because there's all kinds of bells and whistles and some of them are awesome. Like you can get what are called bump outs where you can move the floor plan out a little bit at a foot here at a foot there, certain types of flooring, lighting packages. You can do the gourmet kitchen, which has got the hood and it's got the, the things in there that'll make you feel like

but that's not the price that you're looking at.

That's not the price you're

And that's not the price that we're going to get paid on either. So we'll give you the most honest advice because if we're giving you. Guidance of is this upgrade worth it? just know that we're not seeing any cash for any upgrade that you get or that we advise to or not advise to. It's just, we get a base, the base price, if not less.

let's go through the process of like where realtors can really help and why. And I don't want to scare the shit out of buyers, but I want to scare the shit out of buyers a little bit because it's not a sandbox that you want to go into. with these builders because they're just pumping these things out and they're what they're really trying to do is get as many sales as possible So I don't want my want buyers getting steamrolled by the process I think you know advising on price. Certainly, is now builders set their own pricing and they let capitalism ring. They let, the market decide if they're overpriced, they're going to set if they're underpriced, the same as with any other regular house, the contract for builders are, some states might be this way, but in Pennsylvania, they're not required to use, in fact, rarely use the states like boilerplate. Pennsylvania Association of Realtors

And it's a lot of pages. It's

a lot of agents. it's formatted differently. It's worded differently. There's other stipulations cause it's a brand new house. There's construction language in there and all that.

There's things that you are and are not allowed to do during the time of construction. They all vary

by builders because they have their own lawyers write them. So you really need guidance because you sign that document. you are going to be beholden. and frankly, like they're building you a house, like you should be in bed with them. And it's great. if you want to build a house and you want to engage one of these builders, that's awesome, but you need to know exactly what the terms and conditions are.

also need to know what questions to ask. you only know as much as you know and you don't know what you don't know. So having an agent to look over those documents, be able to ask the right questions, even if you are the person to be reading through every single line of that contract, there still may not be things that you know to ask about

Yeah, or the context to understand, so I have a client right now out in Westchester, Pennsylvania, big houses. They really want a fence in their backyard. They don't even have a dog. I think they just want a fence. I think they just want to be able to fence in the yard. maybe they don't like their neighbors, but they are, they were unsure. So like what, about fencing and I knew it was a big thing for them and we went out and we got through the entire appointment and I had it in my back pocket. I'm like, yeah, but what about fencing? Turns out this place doesn't allow fence. Bye.

Imagine going through

All that and building a house and getting halfway through and there's studs in the air and they're like, they're putting up drywall and you're like, Oh, I got to call the fencing person and the building inspectors or the building guys there. He's Oh yeah, he's we don't allow fencing. There's also instances where, Kind of nitty gritty, but where there's municipal, liens attached to each property. So sometimes when a builder goes in and says, Hey, I want to take this farm and make it into a big development, the township doesn't have the money for the infrastructure, the water and running all the pipes and doing, and the sewer and everything like that. So what they'll do is they'll attach an individual. Lean, meaning an individual note to each lot that the seller has, or the buyer, the builder, or the, I'm sorry, not the builder, the buyer. Yeah. The buyer has to pay. So like in this one instance, there was a 57, 000 note that the buyer had to. Pay off over 20 years and like getting in the nitty gritty of all that. that stipulation could very well have been buried in a contract, but I found it. And so I'm not doing this to toot my own horn, but it's like, there are, there are certain stipulations. Another big one is pre drywall and spec inspections.

we go there, I'm going to say one other thing that just has to do with lots. Before we go, while we're outside, before we go inside, so it made me think of when I was, having initial meetings about my friend's new construction purchase. they were looking to get a unit and did, that was backed up to a tree line. and somebody might go to go see that and be like, Oh my God, that's so great. And I get to have trees out back. So things that they didn't even think to ask where, are those trees going to stay there? Or what are the building plans like as you go on? Because they are getting one of the first like row of houses. They were still good. And I asked them like, how long are you going to be building for? Are they going to be having like bulldozers or whatever else? Yeah, and then if they, if you think that you're going to be getting something because it's like, it has like at least like a nice little like backyard, is it always going to be a backyard? Is it always going to be like that? What are their plans for it? Are they taking that down to then expand and do more further on? it's not appealing. So they're not going to just offer up that information right off the bat. Cause people like to have a little tree line and cool. You have it now, but maybe you're not going to have that in two years and you wouldn't even think to ask, and then you're going to get real upset in two years and they're like, yeah, it said it right here and you didn't have anybody to catch that.

Yeah. The other thing is we also understand the intricacy because a lot of these communities are now being built in HOA and condo communities. even in resale where it's not new construction, we see all kinds of things come up so we know the questions to ask and the builders not like beholden and I don't think it's like malicious. I just think sometimes the builders just so busy doing deals that they just don't think it's really a concern like I had one where you're not allowed to put sheds on property. But the garage was like basically a shoe box and he's like, well, where am I going to put all my like yard equipment and all that stuff? And we got all the way down the road here. And before we signed, we asked about sheds. Cause I had shown them other houses where they were like, I need storage for this, that or the other. So the outside and just these HOA issues, these community issues are, super important. Cause once you get in it's very hard to get out. Without sacrificing your deposit. So are we allowed to go inside now, Jen? Now we're going inside. So another thing that a lot of builders don't offer, but you can have written in is what's called a pre drywall inspection. So that's

sometimes it is written into the contract by like the standard is that because I caught this with my clients is that it said no pre drywall

inspection is?

sure can. just like you would get a home inspection and have an inspector in to inspect all the components of the house. While it's getting built, you can have your inspector come in before the drywall goes up and be able to see any of the joists and the framework and make sure that the electrical is being run correctly and be able to see everything without drywall up. So pretty drywall inspection.

our inspector has had horror stories where he was literally, they were

I love seeing those on Instagram, too. I love seeing inspectors putting up reels of new construction things. I'm like, oh, you want a new construction because it's new and perfect? Let me show you. I'm like, ah, yes, please. if you are an inspector and you do that, keep going. Tag us in

so we had a client who's inspect, he had a pre drywall inspection, but. The builder said, they were literally drywalling the house that day. And so they were pressuring him to run around the house and do it. And they started covering things up that he hadn't gotten to. And he literally was like taking like snapping photos of open wiring, all kinds of, unsupported Joyce, like all kinds of stuff in the house. that is a big one that You should definitely employ and some builders will really push back about it But most will allow it to happen because they want happy customers They know their reputation is important, but most buyers have no idea. They're like, yeah, just like Jen said it's a brand new house What could possibly go wrong?

if you don't have somebody who's like working in your favor, cause again, you're thinking of if this agent is working for the builder, it is a smoother transaction. If there is no inspection and they don't have to call for anything and it was, they get to skip over that part. So it's appealing to them. But like I said, I was going through the contract and it had, it was elected a no pre wall. I said, sorry, is this to say that they can't get one? She says, Oh no, like you can, but you have to specifically say it and

default had it not elected.

I said, okay, I would like to have that option open, but they make you like decide right then and there. And I said, okay, I want you to have that option open. And then they give you only a small, certain amount of

Yeah, they give you small windows and that makes sense to me because, built

contracts the same way with home

But yeah, but it's builders have to keep the, the, uh, and then they have logistics. They've got a lot of crews running around these sites and they just need to, they can't have a property stalled for 20 days, by buyers. And that's, I think an understandable thing. And I just,

It's also why they limit how many times you can go see the house while it's being built because what they don't want is people, and this one I don't disagree

with. is liability.

that and having a buyer come to see their house as it's getting built and be like, actually, no, I don't like that, actually, change that, actually, that's, and just, ugh.

they just don't want their crews slowed down either because they've They

They have to deliver it by a certain time to you.

so I had a guy, I had a guy outside of Philly who he was a building estimator. In his normal job and he built a house and he had it built and you're right They had a certain amount of visits. He crossed it out. I don't think he put like infinity But he put like as many as I want. He's like I he's like I live in the city and this is about 40 minutes away He's like I'm not gonna be here every day He's but I want to be able to see the house that you're building for me and he Like look that builder right in the eye and she relented. cause he wanted to know what's going on. He didn't do a pre drywall inspection cause he's a bill. He's in buildings. literally builds massive buildings. So like he understands like what's going up, they'll only give you a certain amount and they're a fun little thing is they give you, they, you have to go to the sales office and get the hard hat. thing. It's totally a liability thing, yeah. You're walking around a construction site and they don't have the insurance to allow, just regular people walking around the site,

What we do is make sure that things are working on the same timeline. since the builder is also responsible for providing certain things to you throughout the process. And there are deadlines to be met and that making sure that we're keeping everything on track for that too, so that you don't fall out of contract. You don't miss a deadline. And that also, they don't miss a deadline. I think there was a time where I said, Hey, like they are do this thing. do you have it? And I had to chase after it. I think it was like a. nailing down the exact settlement date, I think is what it was. And they give a certain date of when they will be able to issue that to us. And they gave the runaround and we kept pushing it off and I was really stern and was like, no, you need to give this to us because you are in contract now and do you want to be in default? And just like being able to know that these are all these deadlines are still being met. So then there's,

like you don't have a very good feeling about that. I have,

listen, new construction can be good. I just think that there is like.

It's just different.

It's not enough that it's being educated to people about it. none of this stuff is being talked about, so long as it's all done responsibly, I have, I don't have a problem with it, but there's just, I don't, I have a trust level thing with not, it's not that they are lying to people, they are just withholding a lot of

I think they're also dealing with a lot of incomplete information. You have to remember, this isn't just a seller moving out of a house. there's logistics. They've got a, they've got the drywall guy that needs to come in, and then they need an electrician to come in, and the plumber to come in, and then the tub installer, the tiler, and all that stuff. a lot of times what'll happen is that, These contractors are working on other sites. They're working at other properties. Things get delayed. So as you come in for a landing on these things, sometimes it can get pushed a week or two. So I told, I always tell my buyers, I'm like, these are like guidelines. And yeah, we feel like we're getting jerked around. That's one thing. But a lot of times these builders are incentivized to build and get properties off the books recorded and so they can release their debts.

just on team communication.

I get

that. So just if it's running behind, communicate with me, like as early as you possibly can, instead of giving runarounds, but,

I have another thing about the inside that I want to talk

about. Me too. What's yours? You go first.

No, you go first. I've talked a lot. I don't think, I don't think yours is going to be mine though. Okay. Okay.

Mine kind of jumps at the end then, so there's two different walkthroughs you

Stop. That's too far down the road.

I told you. It's why I said you go first. Once you pull those, no, you

Realtors also guys, can advise on the design. I spent an hour and a half with one of my buyers, basically designing the entire house. you can go in and say, Hey, is it worth getting lighting package? Is it worth getting this? What are the things you should like, like one of those little things that no one ever. Thinks about the electrical outlet in the ceiling of the porch for Christmas lights and that kind of thing. Like it's that little stuff that a builder is never going to. It's like just a package deal.

just a package deal. Dude, it's a

install versus probably a 400 install aftermarket. Because you have to like

it. You have to wire

you have to open things up. You got to cut everything open and all that stuff. So it's those little things that a realtor can advise you on what's worth it. What's not is it worth getting the princess suite? Meaning adding a bat, like a dedicated bathroom to one of the bedrooms or what kind of flooring? Is it like the high end flooring? Do you have dogs? Do you not have dogs? Like the type of thing where, The finished basement. How much of the finished, how much of the basement do you want to finish, versus storage like that ratio. So I will go to the design center

add up really quickly.

and they do. And it's really about backing things in, but it's also about finishes. one of my clients says she has this awesome, gray cabinets with a Navy blue Island. With white countertops, it's sweet and even the exterior, we've, we picked the exterior of the house, pick the shingle color, like that type of

thing That's so fun. Yeah. It's like the Sims in real

was required because she didn't really know and her husband didn't really care and so she's like, can you just go meet me over there and we can pick everything out, I said, sure, I'll come over I, yeah. I was thinking it was going to be like, I come in and she'd ever, but we like, literally like down on the ground with like tile samples and that kind of stuff. And that's not typical, but if you need that kind of guidance. and you need to back into a certain price, then an agent can be used for

for that. Yeah, see, okay, that's where you get me to be on Total Gung Ho. I love new construction because that's

yeah, it was fun.

I did quick delivery, which to define quick delivery, that's when they already have all of the plans made out. You can't make, accommodations or adjustments because everything is already ordered. and the,

built. But sometimes the house is just sitting there

the pro to it is that you get it sooner. So there, you know, when it's gonna be done versus, fully customized and you're picking out everything. I could be what, up to like a year.

Do you know why they do quick deliveries?

I mean, other than an obvious, like they get paid faster,

it is a buyer who's already built the house and they default or they leave and they decide they don't want it. And so you

that's what happened with my clients.

it. You just adopt everyone. You

It's because somebody else already picked all the finishes and it's all already ordered and there and ready to be put

Yeah, and sometimes the buyer, the builders just screw it, let's just keep building houses. if they, reach a time when they're stalled out and they're not, there's no other buyers buying, they'll just start building houses and they'll just try to, they'll try to project what they think the market would want.

And typically I'd probably be right. Now do I get to skip a little bit further than

you're, you are given permission and then we'll wrap this up.

up. in Pennsylvania at least, you're in contract, you're allowed two walk throughs. one is typically reserved for the day before settlement. The other one can be whenever you do so choose, but it gets a little bit more specific, when you get to new construction. the last one is the one that the builder decides for you. So you have to go. at least with this instance, but it's usually the day of settlement before you go to settlement. but the one before that is, at least in our case, was two weeks before you do a walkthrough. It's when everything is finished and you go through and it's the blue tape walkthrough. So you go through, you point out everything that is either wrong or damaged or needs to be fixed or whatever it is, and then you They do their blue tape, they get painter's tape, mark all of the things that need to be addressed. They have the two weeks or whatever time is in that contract to turn that around to correct those things. And then the day of settlement is for you to walk through and sign off that it is okay. And you literally have to sign and say, I consent that this is okay. My story with this boy, oh boy, we're there. A lot of blue pieces of tape around the house that first walk through, that's what it's for. There are, there's no such thing as too many pieces of tape. Cause that's when you want to actually call it out you're spending money on a brand new house.

Yeah,

there is no detail too small,

It it should be dialed in it should be

I'm not going to bore you with everything that we had called out, but you know, they're all valid. So then it was the day of settlement before we went. And this is where having a realtor really paid off because there were things and I made sure to take note and they, they also go through and they have carbon copy and write down also all of the things that are supposed to be corrected and then we compare that the day of to make sure that they, all those things were addressed. But I also took my own notes of what we had called out. So I'm going around and there were things like, they didn't put a bumper on the back, on one of the walls where a doorknob was hitting into the wall and had already dented the wall the day, like right before we were going to settlement. There was also like. paint that was on the counter and we were like, are you kidding me? there were so many things that were like, this should not be the case. You're delivering this house today. And I can't even close this door properly.

Jen. You

You should be getting what you're paying for this. It's not like this is where it differs between, you're buying a house that's been lived in and you know, it's, it's not going to be perfect. It's not. you get to have way higher standards. If it's something that is brand spanking new, you were the first person to be in this. Like it, it was a little

ridiculous. It has to be perfect. I

I won't say it was ridiculous. There were just things that should not have been the way they were as we're on our way to settlement. And I told them, I said, I'm not going to sign anything until I know this is actually.

Did you want to talk about the one year warranty?

Go ahead.

No, you go ahead.

No, you go ahead. You said you were going to.

Okay. the nice thing about new construction, because the house has never been lived in, there's settlement that takes place, things break, things, go, most builders will offer what's called a one year warranty. And what that does is it allows in month 11. After you've taken ownership for you to bring the builder back in and you'd say this doesn't work. This is crooked. This is loose. This is that. And there are limitations to it. but just keep in mind when you build a house, it is going to settle. So a lot of times it'll be wall cracks. It'll be trim out of place. not a lot, not like the house is falling down, but it'll be certain things that just happened. We're just with gravity. like I had a client where the track on one of the garage doors got loose because it was anchored wrong into the drywall. there's little stuff like that where they will come back and you get a punch list. So this is another time when you're a homeowner, you're not looking to buy or sell, you should call an inspector so whenever I have a new construction client, I set a calendar invite for month 10. And month 10, I recommend my inspector go back in Then let the inspector go in and find all the little defects. Then when the builder comes in, you just slide across the table and say, this is all the stuff that needs to be fixed. And then they fulfill that warranty.

That's funny, I also set reminders on my calendar for, probably like a week or two right before their first, HOA payment is due, when they've never ever had to pay one because it's not taken with your mortgage payment, and then text to remind them, By the way, don't forget, first HOA payment is due, don't forget to pay it. Haha. no, I'm talking about things like it was right before settlement and something that like shouldn't have had to wait for a month was I saw one of the gutters. it was.

wait, are you going back to pre settlement? I'm

you going back to pre settlement? on the fourth floor and I went out and I like looked over at the, like the roof that was to the side and the gutters were angled downward towards the house and not angled down to get the water away from the house. And I was like, that's not right. If it rains, this is going to pour directly straight into the house. And yeah, sure. They might've corrected it within the first month, but like at what expense of all of a sudden you got water coming in your house.

That's just good home maintenance too. that's a good point. if you do buy a new construction house, waiting a year for, to find all the defects might not be feasible. Yeah. If that thing does get loose, certainly like the garage door got

loose. Yeah. I'm not talking only about oh, the paint was little tripped or needed,

no, like real defects. You should, you should contact the builder, before the one year is up. But. I hope this was helpful for everybody. I want to know, has anyone had a good or a bad experience with building their own house? did you use an agent? Did you not? I'm interested to know because this is something where, we help multiple dozen people a year, but we probably only do about 10 to 15, new construction deals.

I don't want this to all sound like I hate new construction. I just say beware.

Jenn's getting sued after this episode. There's no doubt for

I love you builders.

Yeah.

No, I'll say to you, I just followed up my clients, two days ago. I said, I actually have somebody who's interested in that same, in a home that, that same builder is building. I said, you've been in the house for about like a year and a half now. And do you still like it? Is it something that you would recommend to somebody else to get? before I do, cause I actually know somebody in it. I'd rather get your take on it now that you've lived in it. And they said, yeah, no, I really like it. And I said, cool. I feel better

recommending it to somebody else. Yeah. and just as a, just as an overarching, comment, new construction can be a great option. There's no bidding wars.

That is a phenomenal benefit.

But, you are going to pay. It's like buying a new car, you're going to pay a premium.

I will say too, if you're planning on like getting that and then moving in about two years, it, I would say, feel free to disagree, but I would say that might not be the best move. I'd say they don't appreciate as quickly. They will appreciate, but

yeah, but your bait, when you buy something new construction, you're baking in a premium. So you shouldn't expect the appreciation on those to occur the same way you would do on resale generally. Markets are different all over the country, but that's how it is here in philly that yeah, you're buying like a premium

And you're getting it like update upgrading it to like your preferences and those are things

And another reason that doesn't Always track is because if you're looking for a massive amount of price appreciation A lot of times those other buyers to that house can just go into the model home and build their own if construction isn't complete in those homes You there's, you've got a lot of competition, you got a ton of, you have a house just like yours that someone can build as long as they're willing to wait

willing to wait for it. Yeah. But if you get in early on and then they all get filled up,

pretty sweet. And it's in a good location.

it's in a good location. So another good thing to ask is when is, like, when does the builder, plan to complete the entire, uh, development by? Yeah.

Yeah. we said this was going 15 minute episode. I think we, we were well over

But I think it was very

good. It was very valuable.

beginning of this, Seth said, oh, I'm so sick of talking about new construction. I said, no, I don't think people are talking about new construction enough. That's why we're doing it. yeah,

So this was a, this was one of those close to Jen's heart. I hope you guys found it helpful. Leave us in the comments. Let us know if you've done new construction or if you've heard horror stories, you've had good experiences, bad experiences. Did you use an agent? Did you not?

Are you an inspector? Have you done things? What are the worst things that you've seen?

Oh yeah. Oh yeah. We're

and then yeah, go, check us out at millennia podcast, double L, double P. Follow us. We're fun.

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