Picture yourself out for a drive one weekend. You see a sign that says:
New Construction Homes! Models Starting At $XXX,XXX Next Right!
Maybe you’re actively looking for a house, or maybe it’s just a spur of the moment urge, but you follow the signs to the model home. You park. You walk into the model home. The builder’s sales rep asks you to please sign in. You sign in. Ouch. You may have just made a costly mistake...
Most people don’t think twice about signing in when they visit a model home. They figure, what’s the harm? It isn’t like I’m signing something to actually buy one. I just want to take a look, and it’s not like they’re asking me to sign my life away. But sometimes you do end up buying one. You get the bug. You fall in love. You picture yourself in this lifestyle. Next thing you know, you’re making an offer on the spot. Or, maybe you leave, but you can’t stop thinking about it the whole ride home so you decide you’re going to buy one. Either way, if you decide to buy one, having signed in with the builder, you may have signed away your right to involve your own real estate agent represent and advise you.
According to the NerdWallet's Home Buyer Report, 82% of millennials say buying a home is a priority—but saving for a down payment can be a challenge. According to a recent article from Redfin, the top concern among first-time millennial home buyers is saving for a down payment. Instead of delaying the process though, this younger generation is just doubling down on their saving efforts.