New Construction:Pros and Cons...

May 6, 2008

New Construction: Pros and cons…
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC

Thanks to the real estate agent in Vancouver who so rightly pointed out the virtues of new construction. New homes are “New”, they’ve never been lived in before, and everything is new: bathrooms, kitchens, hot water heaters, stoves, furnace, roof…and more. Everything purportedly works. There are warranties. There are walk throughs. There are sometimes Home Owners Associations with rules and regulations. Those are all great. I understand “new”. My own home was “new” when I built it over 40 years ago…and am still here.We have both changed and I hope for the better.
Here is what I contest: Poor building products. What do I mean? Thin cabinetry of the lower grade even on half million dollar condos, thin granite from China that can not easily be replaced or repaired,poor quality pre-finished hardwood floors or frankly even bamboo, poor quality paint, poor quality molding, poor quality doors…poor quality lumber, poor quality siding. I could go on and on….but add to that, poor quality construction, installation, finishing, painting, follow up on walk throughs.
Oh, and while I am at it…such small home sites that if your house is vinyl and someone next door has a fire…grab the kids and the dog and head out…or the nine pieces of shrubbery that goes in too close together and not properly planted…and then there’s the sales representatives who are not agents and if they are, they need to really make the point that they represent the seller, the builder, and that “By signing here” you give up your right to have any representation…and of course, I get in a wad when the builder presents their closing incentives of so much in closing costs if you the buyer use one of their preferred lenders. This only means that the lender who has been working with you and got you pre-approved is out of luck…and for the builder it is only part of moving money around.
And one last thing…I never look at commission paid until after the offer becomes a contract, but rarely does a builder pay 3%, they chisel it down to 2.5% because I suppose they think we have less to do because it is new construction. How little they know the amount of time we actually put into every sale. Every sale resale and new construction.
So…what are we to do? I think it is my job to help educate the buyer. To ask them to step outside of granite and hardwood floors and look at the reality of each home. My home is over 40 years old and looks and feels and acts like new. Because I take care of it. Fix it now or fix it to sell, but the constant is “Fix it.” I don’t know how to tell buyers to be careful…to ask questions…to be patient…to set the emotions aside, the idea of “home”…aside and look at the finished product, look at the neighborhoods, talk to the people who live there, about their homes, the neighborhood and the builder.I am for new…done well. I am for resales properly cared for…I am for growing but not at the expense of some of the people for the gain of others.
Charlotte will continue to grow. I am a part of that. This hometown is energizing and electric. I want Charlotte to be as good as I know it is and great as I know it will be.

Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC