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New Home Buyers

Jeremy_L's picture

Hello everyone!

I am a 2nd year MBA student at the University of Illinois conducting research on those looking to/have purchased a new home in the last few years

I would be extrodinarily grateful if you could answer these questions!!!

1) Where did you look when begining your search for purchasing a new home (ie, if online, where? If not online, where? Did you go to a home show?)

2) Did you use a real-estate agent when looking to purchase/build your new home....or did you just contact the builder directly?

3) How many years did it take between determining you wanted a newly built home, and actually buying/building it?

4) What was the most useful resource when buying/building a new home?

 

Thank you all so very very much!!!!!!!!!!

 

Jeremy

Not many new home buyers (post #207156, reply #1 of 4)

Not many new home buyers here.  A few new home builders, and lots of old home keep-it-from-falling-downers, but not many buyers.


Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed.  --Herman Melville

1) Where did you look I (post #207156, reply #2 of 4)

1) Where did you look

I looked around the back yard to see what type materials I had in my stockpiles, then did the drawings and permits. Have gone to JLC live a few times

2) Did you use a real-estate agent when looking to purchase/build your new home....or did you just contact the builder directly?

God help me if I ever have to contact a RE agent again in my life.  I just contacted the builder, me.

3) How many years did it take between determining you wanted a newly built home, and actually buying/building it?

First one (1971) , about 7 years before that to save up enough money to buy the materials and land for cash,  current house being built, 0 years, kids just decided they wanted bigger.

4) What was the most useful resource when buying/building a new home?

Mostly my brain, training as a kid by Pop and others.   Up until a few years ago, this site also <G>  am retired 'ngineer'

 

PS:  I tell folks that if you are not disabled or lazy, you can build your own house without having to get a big mortgage. Of course, if you pull down $200/hr in the day job, probably better off to hire some poor slob like us folks <G>

DW tells me I'm crazy to think 'anybody' can build their own house, as most ARE too lazy.  

ADU house now building so each grandchild has their own bedroom - Cost:  about $14.00 sq foot total - ya gotta watch those sales and CL!

First figure out where you (post #207156, reply #3 of 4)

First figure out where you want to live. If you are moving to a new area, rent for a while and look around. It is a lot easier to shop for a house if you don't need a house right away. You can also figure out traffic patterns, investigate neighborhoods, crime etc and get an idea if it is a good fit. Then start looking at the real estate resources you get for free like the paper, listing books and the internet. I would use a real estate agent as the last resort and I would direct buy from the owner if I could. You still need a broker/lawyer to actually make the deal and do the documents but that is better than 2 real estate agents pushing properties they have a financial interest in. The lawyer is usually the best bet if you are buying a "by owner" house. They usually just charge billable hours, not a piece of the action.

Greg

FBO (post #207156, reply #4 of 4)

When it is time to sell I will try to do it myself as well.  I think many buyers are afraid to buy without a realitor.  Professionals have a way of scaring people about doing anything themsleves whether that is tighting a nut on a faucet or buying a house.  To get around this I think I will offer th ebuyer to pay ALL THEIR lawyers fees.  THat is a whole heck of a lot less than 6% realitor fees.  I mean get real.  The vast majority of realitors get a listing and then wait untill it sells and then collect $15000 (yes split between listing and buying agent / brokers).  Any realitor will tell you the treat is listing, listing,listing not showing houses.