Questions about buying a new construction home in San Tan / Queen Creek area. First time home buyer discounts? (to rent)

[ComposerRyan]

Hey everyone,

So I'm thinking about going for a new construction home in the Queen Creek / San Tan Valley area. I work from home so commute really is no big deal for me. Plus, I want to live here for the foreseeable future and do not want to rent anymore.

With that said:

1) Are there discounts for first time home buyers like myself?

2) If I pay 100% up front in cash, can I get a discount?

3) Finally, my brother is also looking to buy a new home. We may actually buy two new constructions side by side. Is there a discount for buying two houses side by side in a new construction neighborhood?

4) Any warnings I should be aware of for new constructions?

Thanks for your help again.

[AZJoeD]

To answer your question honestly,

Builders do not offer FTB discounts. Some lenders offer FTB financing packages, but most builders counter using an outside lender with incentives for using their in house lender.

Negotiating with a builder is tricky. If the community is selling well they are unlikely to negotiate. If the community is not selling well or if they are closing out, you may be able to negotiate. You may be able to negotiate for a lot that is not prime like one near an entrance or that backs to a busy street. I doubt that buying two will change the deal.

For me, the biggest concern with buying new is knowing what you are buying. Builder salespeople are experts at making you feel all warm and fuzzy. Most builders show you models that are loaded with options. The house you are buying may not even look the same without the options. Don't pay extra for custom paint, pay extra for plumbing upgrades. Ask the salesperson for the options sheet, lot premiums, and most important READ THE PUBLIC REPORT! Builders are notorious for having you sign the Public Report without giving you time to read and understand what you are signing.

[AZ Manager]

1, 2, and 3 are all no. Their goal is to drive prices up to make a profit and giving discounts does the opposite.

4) A lot. You need to know what you are getting before you sign anything. You need to read AND understand what you are signing. Don't let them make you think their warranties are anything special because they aren't; they are mandated to cover everything for 2 years, caulking for 1 year, and structural for 10 years. If you are having problems don't hesitate to get the ROC involved.

[asufan]

You can get good deals paying cash in the resale market, I do it often on investments, then you can finance later if you want. Builders actually want you to use their in house lender and that is where the discounts will come.

[Sno0909]

Arizona offers some great programs for first-time home buyers, they just don't apply to new construction.

[ComposerRyan]

Thanks everyone for the help with this. It seems like existing homes will be the way to go for me atm.