Preview
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
EXHIBIT 79
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS
I Grew Up Here. I Live Here. I SellHomes Here. L I NK T O Y O U R F R E E L I F EST Y L E & C O M M U N IT Y S T R AT EG Y C A L L
(https://fromnyctowestchesterliving.sp!:rh±Mr±_com/)
(https://westchesterliving.house)
C01v
3 things to know about buying new
construction
G+
in
Jennifer Y. Ross
Published on March 30, 2017
I Want to...
W Search For Properties
(/featured-neighborhoods)
[dd. Learn More About Buying
(/guide-to-buying-a-home)
$ Find The Value Of My Home
(/home-value-analysis)
Schedule A Call
(/schedule)
9 Read Tips and Tricks
(/real-estate-blog)
¼ View Featured Communities
. . (/featured-neighborhoods)
t h3 in s to know about buying See Client Success Stories
neW COnStruction (/testimonials)
Talk About Selling My Home
f v P ng
https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 1/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS
When homebuilders stop building, inventories of homes for
sellers'
sale dwindle and we end up in a tight market. While
Schedule A
there are many reasons for the recent slowdown in new home
construction (high material
.
of
Luxury Community
costs, unavailability labor,etc.),
& Home Tour With
there is good news on the horizon: they are building again. .
Jennifer Y. Ross
In fact, new home sales increased more than 6 percent in
February, which is "nearly 13 percent higher than February of
year,"
last according to AP economics writers Christopher S. (https://westchesterliving.h
Rugaber and Josh Boak. home-tours/)
(/home-value-analysis/)
That makes this the perfect time to learn the ins and outs of
a home. of
buying newly constructed Sure, a lot the process is
HOWMUCH IS YOUR
similar to an if you're a HOME WORTH?
buying existing home, but, considering
new it's critical that you understand some of the
FREE HOME VALUE
home,
(/HOME-VALUE-
- both your and your
differences critical to sanity pocketbook.
ANALYSIS/)
1.The builder has an agent and a lender .
. .do you?
(/guide-to-buying-a-home/#lock)
If you've ever visited a new home community, you no doubt
FREE Download:
noticed the fencing that corrals folks to ensure they visit the ivewi-iome Buyers
GuideOWNLOAD
builder's office prior to viewing the model homes. The greeter
(/GUIDE TO-
inside this office is typically a licensed real estate agent,
BUYING-A-
employed by the builder or developer. His or her job is to not
HOME/#LOCK) n
only let you know all the fabulous features the homes and the
community offer, but to peel off those potential buyers who
aren't working with another agent.
While it's often legal for one agent to represent both the seller Have Questions?
(in this case, the builder or developer) and the buyer, and this
Let's Talk!
agency"
"dual situation seems like a handy solution for you, be
wary. Dual agents are prohibited from representing one party
exclusively so you'll receive only limited representation. SCHEDULE A CALL
Since the seller is paying for your agent's services, your best
bet is to go into the situation with your own representative. So,
when the builder's agent asks you if you're working with an
agent, let him or her know that you are and you can move on
to view those amazing new homes.
https://westchesteiliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 2/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
7/3/2018 3 thingsto knowabout buyingnew construction
| The WestchesterLivingTeam @ COMPASS
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
Whether or not you should work with the builder's preferred
lender may take some research. Often that lender will be able
to save you money on your mortgage but the only way to know
for certain isto obtain quotes from other lenders and compare
them all.
2. Research is a bit more challenging
The initial steps in the house hunt, after seeing a lender,
include deciding where you want to live (atthe neighborhood
level) and in what type of a home. When the neighborhood is
brand new, you'll be presented with several challenges not
present when purchasing an existing home. Keep the
following in mind when researching homes and communities
• Even new homes can have problems. Visit the existing
home areas of new communities and do stop and chat
with any residents you see. Ask about their experience
with their homes and with the neighborhood overall.
ar
• Ask the builder's agent about the Homeowners
Association (HOA) and how much the monthly fee will be.
Ask to the see the HOA such as the CC&Rs -
documents,
the covenants conditions and restrictions. Run them by
your attorney ifthere is anything you don't understand.
• Determine ifInternet and TV service will be available in
the community as of your expected move-in date.
• The Better Business Bureau is a valuable resource. Use it
to research the developer/builder.
• Visit the office to determine what have
cityplanning they
planned for the area surrounding the community.
• Ifnoise bothers check the neighborhood's
you, proximity
to busy roads, the airport flight pattern and the number of
young people residing there.
• "founding"
Although itis great to be one of the fathers or
mothers of a new neighborhood, keep in mind that ifyou
move in before the neighborhood is complete you'll be
forced to live with the dust and noise of construction work
for a while.
3. New home upgrades can be confusing
https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 3/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
7/3/2018 3 thingsto knowabout buyingnew construction
| The WestchesterLivingTeam @ COMPASS
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
As you tour the model homes, unless you purchase identical
upgrades, your home will not look anything likethe model. In
fact, itwill be a bare shell,with the least expensive flooring,
appliances and fixtures. Find out exactly what comes with the
basic home price. With that in mind, you can add upgrades
and keep within your budget.
Typically upgrades performed by the builder during the
construction process are more expensive than ifyou hire
someone to do them later on. The advantage of having them
done during construction, though, isthat you can roll the costs
into the loan.
Let's take a look at three of the most popular builder upgrades.
• The lot - The one upgrade that you can be assured will
hold itsvalue is land. Unless you livein Hawaii, no more
land isbeing created. A larger lot,or a better-located lot (if
you can afford it),isworth the money itcosts.
• Structural upgrades - a three-car instead of a
Creating
two-car garage or adding an extra bathroom are popular
upgrades because of the expense homeowners would
incur ifthey saved these upgrades for after they close
escrow. c
• and electrical - that will save
Plumbing Anything help
money while you live in the home isworth considering.
For instance, a super-efficient HVAC system and tankless
water heater are worth considering purchasing as an
upgrade.
Think about your wants and needs and whether any would be
costlier to add once the home is built. Any time a wall needs to
be opened you can expect a huge mess that costs lots of
money.
I Grew Up Here. I Live Here. I Sell Homes Here. Hi, I'm
Jennifer Y. Ross, a licensed real estate salesperson and your
Westchester County NY real estate community and home
expert. I grew up here. I live here. I work here.
https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 4/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
7/3/2018 3 thingsto knowabout buyingnew construction
| The WestchesterLivingTeam @ COMPASS
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
To learn more about how I help my clients check out my bio
video - video link.
Just like you I was considering a move to Westchester
not too ago. I was in your shoes -
County long very likely
living in NYC and starting to outgrow my current living
situation. Ifyou are ready to start exploring Westchester
Communities and Homes, your first stop should be a
Platinum Drive Tour - link to learn more
Realty Luxury
o
(https://westchesterliving.house/luxury-home-
tours/).Contact me to schedule your suburban safari today! -
link to schedule tour
(https://westchesterliving.house/luxury-home-tours/).
Areas of Expertise: Larchmont Real Estate, Mamaroneck
n
Real Estate, Rye Real Estate, Rye Neck Real Estate, Purchase
Real Estate, Harrison Real Estate, New Rochelle Real Estate,
Pelham Real Estate and Bronxville Real Estate.
Want To Learn More?
Chat with Jennifer Y. Ross!
(914) 844-0272
f v 9 zi
https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 5/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS
You may also be interested in...
-n
kids'
Lock down your furniture for safety
Even brand-new moms know to put those plastic things in electrical outlets and to child-proof cupboards that contain hazardous materials....
(https://westchesterliving.house/real-estate-blog/lock-down-your-furniture-for-kids-safety/)
https://westchesteiliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 6/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS
5 tips for choosing a closing date
One of the decisions you'll need to make when you make an offer to purchase a home isthe...
(https://westchesterliving.house/real-estate-blog/5-tips-for-choosing-a-closing-date/)
-n
Make your ñêighbors disappear with privacy landscaping
When looking at homes for sale, how much isprivacy worth to you? Ifyou place a premium on...
(https://westchesterliving.house/real-estate-blog/make-your-neighbors-disappear-with-privacy-landscaping/)
https://westchester||v|ng.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 7/8
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018
7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS
https://westchesteiliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 8/8
Preview
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 EXHIBIT 79 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS I Grew Up Here. I Live Here. I SellHomes Here. L I NK T O Y O U R F R E E L I F EST Y L E & C O M M U N IT Y S T R AT EG Y C A L L (https://fromnyctowestchesterliving.sp!:rh±Mr±_com/) (https://westchesterliving.house) C01v 3 things to know about buying new construction G+ in Jennifer Y. Ross Published on March 30, 2017 I Want to... W Search For Properties (/featured-neighborhoods) [dd. Learn More About Buying (/guide-to-buying-a-home) $ Find The Value Of My Home (/home-value-analysis) Schedule A Call (/schedule) 9 Read Tips and Tricks (/real-estate-blog) ¼ View Featured Communities . . (/featured-neighborhoods) t h3 in s to know about buying See Client Success Stories neW COnStruction (/testimonials) Talk About Selling My Home f v P ng https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 1/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS When homebuilders stop building, inventories of homes for sellers' sale dwindle and we end up in a tight market. While Schedule A there are many reasons for the recent slowdown in new home construction (high material . of Luxury Community costs, unavailability labor,etc.), & Home Tour With there is good news on the horizon: they are building again. . Jennifer Y. Ross In fact, new home sales increased more than 6 percent in February, which is "nearly 13 percent higher than February of year," last according to AP economics writers Christopher S. (https://westchesterliving.h Rugaber and Josh Boak. home-tours/) (/home-value-analysis/) That makes this the perfect time to learn the ins and outs of a home. of buying newly constructed Sure, a lot the process is HOWMUCH IS YOUR similar to an if you're a HOME WORTH? buying existing home, but, considering new it's critical that you understand some of the FREE HOME VALUE home, (/HOME-VALUE- - both your and your differences critical to sanity pocketbook. ANALYSIS/) 1.The builder has an agent and a lender . . .do you? (/guide-to-buying-a-home/#lock) If you've ever visited a new home community, you no doubt FREE Download: noticed the fencing that corrals folks to ensure they visit the ivewi-iome Buyers GuideOWNLOAD builder's office prior to viewing the model homes. The greeter (/GUIDE TO- inside this office is typically a licensed real estate agent, BUYING-A- employed by the builder or developer. His or her job is to not HOME/#LOCK) n only let you know all the fabulous features the homes and the community offer, but to peel off those potential buyers who aren't working with another agent. While it's often legal for one agent to represent both the seller Have Questions? (in this case, the builder or developer) and the buyer, and this Let's Talk! agency" "dual situation seems like a handy solution for you, be wary. Dual agents are prohibited from representing one party exclusively so you'll receive only limited representation. SCHEDULE A CALL Since the seller is paying for your agent's services, your best bet is to go into the situation with your own representative. So, when the builder's agent asks you if you're working with an agent, let him or her know that you are and you can move on to view those amazing new homes. https://westchesteiliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 2/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 7/3/2018 3 thingsto knowabout buyingnew construction | The WestchesterLivingTeam @ COMPASS NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 Whether or not you should work with the builder's preferred lender may take some research. Often that lender will be able to save you money on your mortgage but the only way to know for certain isto obtain quotes from other lenders and compare them all. 2. Research is a bit more challenging The initial steps in the house hunt, after seeing a lender, include deciding where you want to live (atthe neighborhood level) and in what type of a home. When the neighborhood is brand new, you'll be presented with several challenges not present when purchasing an existing home. Keep the following in mind when researching homes and communities • Even new homes can have problems. Visit the existing home areas of new communities and do stop and chat with any residents you see. Ask about their experience with their homes and with the neighborhood overall. ar • Ask the builder's agent about the Homeowners Association (HOA) and how much the monthly fee will be. Ask to the see the HOA such as the CC&Rs - documents, the covenants conditions and restrictions. Run them by your attorney ifthere is anything you don't understand. • Determine ifInternet and TV service will be available in the community as of your expected move-in date. • The Better Business Bureau is a valuable resource. Use it to research the developer/builder. • Visit the office to determine what have cityplanning they planned for the area surrounding the community. • Ifnoise bothers check the neighborhood's you, proximity to busy roads, the airport flight pattern and the number of young people residing there. • "founding" Although itis great to be one of the fathers or mothers of a new neighborhood, keep in mind that ifyou move in before the neighborhood is complete you'll be forced to live with the dust and noise of construction work for a while. 3. New home upgrades can be confusing https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 3/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 7/3/2018 3 thingsto knowabout buyingnew construction | The WestchesterLivingTeam @ COMPASS NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 As you tour the model homes, unless you purchase identical upgrades, your home will not look anything likethe model. In fact, itwill be a bare shell,with the least expensive flooring, appliances and fixtures. Find out exactly what comes with the basic home price. With that in mind, you can add upgrades and keep within your budget. Typically upgrades performed by the builder during the construction process are more expensive than ifyou hire someone to do them later on. The advantage of having them done during construction, though, isthat you can roll the costs into the loan. Let's take a look at three of the most popular builder upgrades. • The lot - The one upgrade that you can be assured will hold itsvalue is land. Unless you livein Hawaii, no more land isbeing created. A larger lot,or a better-located lot (if you can afford it),isworth the money itcosts. • Structural upgrades - a three-car instead of a Creating two-car garage or adding an extra bathroom are popular upgrades because of the expense homeowners would incur ifthey saved these upgrades for after they close escrow. c • and electrical - that will save Plumbing Anything help money while you live in the home isworth considering. For instance, a super-efficient HVAC system and tankless water heater are worth considering purchasing as an upgrade. Think about your wants and needs and whether any would be costlier to add once the home is built. Any time a wall needs to be opened you can expect a huge mess that costs lots of money. I Grew Up Here. I Live Here. I Sell Homes Here. Hi, I'm Jennifer Y. Ross, a licensed real estate salesperson and your Westchester County NY real estate community and home expert. I grew up here. I live here. I work here. https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 4/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 7/3/2018 3 thingsto knowabout buyingnew construction | The WestchesterLivingTeam @ COMPASS NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 To learn more about how I help my clients check out my bio video - video link. Just like you I was considering a move to Westchester not too ago. I was in your shoes - County long very likely living in NYC and starting to outgrow my current living situation. Ifyou are ready to start exploring Westchester Communities and Homes, your first stop should be a Platinum Drive Tour - link to learn more Realty Luxury o (https://westchesterliving.house/luxury-home- tours/).Contact me to schedule your suburban safari today! - link to schedule tour (https://westchesterliving.house/luxury-home-tours/). Areas of Expertise: Larchmont Real Estate, Mamaroneck n Real Estate, Rye Real Estate, Rye Neck Real Estate, Purchase Real Estate, Harrison Real Estate, New Rochelle Real Estate, Pelham Real Estate and Bronxville Real Estate. Want To Learn More? Chat with Jennifer Y. Ross! (914) 844-0272 f v 9 zi https://westchesterliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 5/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS You may also be interested in... -n kids' Lock down your furniture for safety Even brand-new moms know to put those plastic things in electrical outlets and to child-proof cupboards that contain hazardous materials.... (https://westchesterliving.house/real-estate-blog/lock-down-your-furniture-for-kids-safety/) https://westchesteiliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 6/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS 5 tips for choosing a closing date One of the decisions you'll need to make when you make an offer to purchase a home isthe... (https://westchesterliving.house/real-estate-blog/5-tips-for-choosing-a-closing-date/) -n Make your ñêighbors disappear with privacy landscaping When looking at homes for sale, how much isprivacy worth to you? Ifyou place a premium on... (https://westchesterliving.house/real-estate-blog/make-your-neighbors-disappear-with-privacy-landscaping/) https://westchester||v|ng.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 7/8 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 262 RECEIVED NYSCEF: 10/01/2018 7/3/2018 3 things to know about buying new construction | The Westchester Living Team @ COMPASS https://westchesteiliving.house/real-estate-blog/3-things-to-know-about-buying-new-construction/ 8/8