Can You Negotiate Price on a New Build? | Chicago Suburbs Guide

Walking into a beautiful new construction model home in a town like Naperville or St. Charles is exciting, but the price tag can be daunting. Your first instinct might be to offer $20,000 below the asking price—but in the world of new builds, that's often a losing move.

Watch: Why Builders Say "No" to Price Cuts (and what to ask for instead)

As I explain in the video, builders have a massive incentive to keep their "base price" high. If they sell you a home for less than your neighbor, it lowers the appraised value of every other home they have left to sell.

3 Pro-Tips for Negotiating with a Builder:

• Focus on the Design Center: This is where you have the most leverage. Instead of a price cut, ask for $15,000 in credits toward those quartz countertops, hardwood floors, or that finished basement you’ve been eyeing. It costs the builder less than a price drop, but adds massive value for you.

• Target "Spec" Homes: If a builder has a "move-in ready" or "spec" home that has been sitting for 60+ days, they are paying carrying costs every month. This is when they are most likely to waive lot premiums or throw in a high-end appliance package.

• Leverage Closing Costs: Many Chicago-area builders have "preferred lenders." While you should always shop your rate, you can often negotiate significant closing cost credits (sometimes up to 3% of the purchase price) by using their in-house team.

Don't Go It Alone The sales agent in the model home works for the builder—not you. Having an experienced local Realtor ensures you have someone fighting for these credits on your behalf.

Thinking of buying new? Contact us today to see the best new construction developments currently hitting the market in the Chicago suburbs.