New Home Rebates: Why You Should Look For This Benefit In Your Home Purchase

Posted on: 5 May 2021

New home rebates are an incentive to encourage buyers to purchase new properties. These rebates can be issued as a refund to buyers or as a rebate they can take advantage of as part of the final sale of a home.

When you look at new homes for sale, ask the real estate agent you're working with if they offer any new home rebates, and if so, for how much. Learn more about what new home rebates are and how they can be beneficial to you. You should look for this benefit when buying a home, and here's why.

You can get money back to put into savings

The way new home rebates work is this: the commission paid to the real estate agent or agency is given back to you in part or full, depending on the promotion. You get this rebate as a thank you incentive for choosing them to represent you for buying a home. The money you get back can be put into savings, applied to the balance owed on your home, or used to furnish or decorate your home.

You can get a higher rebate with a pricier house

Worried about buying an expensive home even if you can afford it? Buying rebate homes helps make the financial part of buying a home easier. This is why: your rebate is either based on a percentage of the home's sale or a set dollar amount based on the price of the home. This means the more you spend on your property, the more you get back. You can use that money to immediately pay down your mortgage so your monthly payment is easier to pay and you have more equity in your property right away.

You can get access to more homes

New home rebates are for real estate agents to get more clients to work with. This promotion allows you to take advantage of a great deal while having a real estate agency work hard for your business. You can gain access to more homes to look at because your real estate agent and agency are trying to get you into a property so you can take advantage of your rebates.

You may be more motivated to look at more homes as well since the sooner you find your next dream home, the sooner you can have money back in your pocket. It's an entire win for everyone, so when you go shopping for your next property, check out new home rebates via a real estate agency that offers them.