Cincinnati and Warren County Ohio Patio Homes

Can I Buy A New Construction Patio Home For The Starting Price?

Cincinnati new construction patio homeYou see the signs as you drive around the Cincinnati area.

The builder's community entrance sign states:  "Starting in the $230s!" or "Starting in the $310s!" or some other fairly reasonable price for the area.

Those numbers are in your price range so you figure you can live there.  But can you?

Is the starting price realistic?

Can you actually build a home for that "starting" price that you'd be happy with?

Most likely not because of what it takes to get that "starting" price.

First, you have to take the smallest floor plan available.  You need a 4 bedroom home?  That starting price is for a 3 bedroom home.

Want a basement?  That's another $30,000.  Want some finished space in that basement?  That's another $15,000 (or more, maybe a LOT more).

The lot you want to build on?  That just might come with a lot premium.

Want something besides builder grade carpet or vinyl flooring?  Open up the wallet a bit more.

Want tile in the shower?  Not included with another charge.

A bit bigger patio than standard?  It can be done, but again, a bit extra.

And don't get me started on all the possible options to take your kitchen up from the base.

Bottom line is your bottom line can often be significantly higher than that "starting" price.

Key to knowing whether that starting price is something you can live with is having an idea of what is standard for a builder and what's considered an upgrade or option.

For instance some builders for patio homes tend to have a higher starting price, but they offer more standard.  Granite or quartz counters, 42" kitchen cabinets, better flooring, all just part of the offering.  You might still want to add some extras, but chances are you're bumping up 10-15% above starting price vs. 50%.

Local builders do not put price lists online.  You want to know what an option costs, it's going to require a sit-down meeting with the builder's rep.

You CAN shorten the process a bit by finding a real estate agent with thorough knowledge of area builders and their typical practices.  Knowing sold prices helps calibrate what is typically happening in a community and whether the starting prices are realistic, or a hook to bring you in.

BEFORE you contact the builder's rep, please find yourself a buyer's agent to help you through the process.  We don't work FOR the builder, but FOR YOU.  And there's no savings (or extra cost) for having us help you.  Most area builders have already factored agents into their overhead, so with or without an agent, you're going to be charged the same.

Further questions about new construction homes in Cincinnati?  Just contact us at 513-520-5305 or email Liz@LizSpear.com.

Serving Greater Cincinnati home buyers and sellers.

Bill & Liz aka BLiz

 

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Comment balloon 3 commentsLiz and Bill Spear • August 11 2019 02:16AM

Comments

It really depends on the area but I’ve seen it happen. Much stranger things have happened

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) 11 days ago

Good morning Bill. The starting price is usually significantly lower than the minimum acceptable price. Enjoy your day 

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 11 days ago

Having a Buyer's Agent when visiting new construction is most important. The salespeople represent the builder, and will try to present all the fabulous upgrades that will be available. Of course, there is usually a lot premium that adds to the cost. Bottom line, find out from your buyer what he or she wants in their new home, and then negotiate with the saleperson, a reduction of the lot premium, or have them throw in some of the upgrades at no charge, as a way for the sale to happen.

Posted by Ronald Curtis, Negotiating the best price and terms for my Buyers (Manes Realty Group) 10 days ago

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