Real Estate Blog

Are you thinking of building your dream home and not sure how to select a builder? Are you looking for a production, semi-custom or custom builder? Now is the perfect time to begin your search. There are 174 builders represented in the Spring Parade of Homes! Our agents on the New Homes of MN team are ready to work with you. We can provide recommendations on homes to tour that will best suit your wants and needs and on what to look for in the homes that you tour that can help you choose your builder. The Parade of Homes begins this Saturday, February 24th!

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There are 481 New Homes to tour during the 2018 Parade of Homes. To help you sort through these homes to tour, contact one of the Agents from the New Homes of MN team. An agent can help you find the perfect homes for you to tour in your perfect location and price range. 

Parade of Homes

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If you’re considering new construction and you’d like a portion of your property fenced, what do you do? Well, the first step is to talk with the home builder. Are fences allowed by them and/or the HOA (Homeowner’s Association)? If so, will the builder include a fence for a price, or do you need to hire a separate contractor to build your fence? If the builder will oblige you by building a fence and incorporating it into the landscaping and quote a price for the fence that works with your budget—great! If not, you’re going to need to hire someone to build your fence. 

Make sure you understand any restrictions, regulations, and requirements for your fence as determined by the HOA or city. Also, consider the purpose of your fence and select a fence

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It’s January which means it Radon Awareness Month. If you are not familiar with Radon you can get the basics on the EPA website here

Radon and radon mitigation were not very well understood until relatively recently. Given our lack of knowledge about radon, many older homes are not well equipped to handle and mitigate radon efficiently and installing mitigation systems into older homes can be a headache and costly. Luckily with our increasing knowledge about radon and mitigation techniques, installing radon mitigation systems into the blue prints for your new construction home, is becoming easier every day. There are a number of techniques that can be applied to the construction of your new home that are both effective and cost efficient. For more

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I often run into people that think they can save money by going to a model home and not bringing their agent. There are no absolutes in real estate but for the most part, this is a fallacy.  Most builders budget for a high percentage of sales to come from people represented by Realtors.  Builders try not to lower pricing as it will have a negative impact on future sale prices.  Builders will sometimes negotiate a higher commission for their own sales agent working the model home if the buyer comes in without an agent.  In this scenario the buyer receives no financial incentive, only the builder and sales agent.  However the buyer now has given up the opportunity to have professional representation.  If a disagreement ensues during the construction

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Often times the advertised price of a New Construction home online is very different from the final price paid by the buyer. There are 3 main elements to consider when determining the total cost of your new home. These include:

1. The cost of the lot or land. You could purchase an individual piece of land to build on you can choose a lot in a development. In developments, builders will typically charge a "Lot Premium" depending on which lot you choose. These premiums can vary a lot by builder and by neighborhood, so it's important to find out the range of the lot premiums when you are considering a particular neighborhood. 

2. The base price of the floor plan. Most production and semi-custom builders will offer several different floor plans and they

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I often get asked what home warranty comes with a new home.  In Minnesota the state law (also referred to as statutory law) requires a 1,2, and 10 year warranty. The 1 year of the warranty is the time period in which the builder must warranty for general workmanship, the 2 year part of the warranty refers to mechanicals (Heating and cooling, plumbing, and electrical) and the 10 year part of the warranty covers structural deficiencies. The builder will provide thresholds by which a potential issue is deemed to be a deficiency so be sure to ask for those guidelines when purchasing a new home.  Appliances generally carry their own warranties and are covered by the manufacturer so be sure to register for the appliance warranties when you move in.  Also

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About 8 years ago I was touring an older home in Minnetonka on a large lot and I questioned the Realtor on the high price point.  His response was that the home was large enough to separate and there was a second lot behind it.  The value he had placed on the second lot was extremely high.  He mentioned that he is also an appraiser and he went back several years to find the last sold lot in Minnetonka (that would have put those sales in a time period before the Great Recession). I explained that the neighborhood did not have any lot sales at the time but there were several tear downs nearby. He responded that according to the appraiser's guide, you have to adjust $40,000 for the cost to tear down a home.  Since then I have torn down two homes and I'm not

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You have decided on your builder, location and floor plan and now you are starting to make your selections. When it comes to lighting there are endless choices, but there is a lot to consider especially if you are trying to stay within a budget.

When making your selections, your builder will inform you as to an amount that is included in your home pricing for a lighting allowance. It may seem like a generous amount, but it will be depleted pretty quickly. Exceeding that allowance will increase the final price of your home. You will need to choose fixtures for both indoors and out. 

Do you have a decorating style you have chosen for your home? This is a good place to start. Whether it is modern, traditional or industrial just to name a few, there are

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No. But you will want to have a Realtor to help you with the process. Not all lots are listed on the MLS so it is very helpful to have a Realtor and the Realtors on the New Homes of MN Team have a relationships with a local developers and builders.

Along with your Realtor a good builder has the resources to help find the perfect building site. Location Location Location are the 3 key words in selecting your lot. What type of basement do you want? Walkout, lookout or full basement. Do you want sun exposure at the front of your home or the back of your home? How much tree coverage do you want? Do you want to be in the city or out away? You will need to know the answers to these questions before selecting your lot. No worries! A member of the New Homes of

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