In today’s real estate market, many buyers go out on their own when buying a new development Condo. However, unless you are extremely knowledgeable about the real estate buying process, local area, the building and the builder’s sales office, we highly recommend finding a good Buyer's Agent / Broker to assist you. You will save countless hours of research, money and not to mention many headaches in having to do it all yourself. Best of all it won’t cost you anything to have your own Buyer's Agent looking out for your best interests. All buyer's agent fees & commissions are paid by the builder.
There are many new developments in San Francisco that are available and if you want to properly narrow down your search, you will need help from an local area specialist to:
- Aid in neighborhood selection.
- Provide an overview of new construction and resale developments.
- Consult on which model and floor plan may be best for you.
- Educate you on the legalities of contracts and disclosures.
- Identify the right lender to finance your purchase.
- Negotiate the best deal possible.
- Steer you through a smooth escrow and closing process.
There are dozens of new developments in the works or planned in San Francisco. Hundreds, if not thousands of new units will be built in the coming future. Here are some questions to ask yourself:
Choosing the Right Condo Project:
- Which is the best investment to attain your real estate goals?
- Which may have resale restrictions?
- Which have non-owner occupied restrictions? Pet restrictions?.
- Should you buy now or wait to for a future development?
- How will the current rezoning efforts of the SF Planning Department affect your investment?
- How will a new project affect the project you want to buy in? Will it make it less or more attractive (i.e., will it reduce or increase demand for your desired building and your investment)?
Buying at the Best Time and Price:
- What is the existing resale inventory?
- What time of the year are you planning to buy? Depending on the time of year, builders may more aggressively price their units.
- How many units are left in the development and how many units have been sold? If the builder is motivated to sell units quickly, you may be able to benefit from this.
- What upgrades are included or extra? Are upgrades and credits for closing costs negotiable?
Buying for Investment:
- How "marketable" is the development you are wanting to purchase?
- Which corporate leasing and companies should you work with?
- Should you use a property management company?
- What are the legal and financial ramifications of buying and selling investment property?
- What are your building’s HOA CC&R’s (covenants, conditions and restrictions)?
- What is the market rent for your unit?
We hope to have provided valuable insight on purchasing in a new development for your home or investment. Urbane-SF specializes in the San Francisco Urban condo market, including new construction sales. We have forged good working relationships with the builder's sales team, so we work very well with them. We would be honored to provide you with our expertise, dedication, and five-star concierge style service. For more information or to schedule a showing, or to hear about our current BUYER'S ADVANTAGE PROGRAM,
please contact us.