Builder Incentives
This article about a Taylor Woodrow community proves that almost anything can be negotiated when purchasing a new home. A few negotiable incentives include:
Discounts: Asking price can be negotiated.
Upgrades/Credits: Others ask for credits for upgrades or furnishings.
Closing Costs: Mainly for those who are short on cash, the builder can pay closing costs.
Rate Buy-Down: The builder will pay a premium to lower the interest rate of a buyer’s loan.
Here are the highlights from the article:
Jim Hammett, 64, was the first person to move into Taylor Morrison’s 76-unit Sendera development in Concord in November. His three-bedroom, two-and-a-half-bath, Plan 1 home was $597,000, but in a phone call from the builder he found out that prices dropped $50,000.
“I asked if that was going to include me because I was already in contract,” he said. “They said yes.”
But Taylor Morrison didn’t stop there. When Hammett couldn’t pay more than $3,000 a month, the builder kicked in money to lower his monthly mortgage payment from $3,800 to less than $2,500 a month.
“They really wanted me to buy out here and gave me what I wanted,” Hammett, a retired police officer, said.
Sendera in Concord, is now starting in the upper $400,000s.