Contemplative Question.... Looking for advice

A little background first, we live in GA, and when we moved here we bought a new house with a lot of things we loved. After being here for a few years, we feel we made a bad decision in regards to our location. Upon 3 months of investigation, etc, we have decided we want to move. We put a very large down payment on our home and my BIL is wanting to buy our current home(relocating here), so here is the situation, we found a home we LOVE, it has been on the market for close to a year, and they have lowered the price 6 times, the subdivision is going to house 256 homes, currently there are 13 built and lived in and 3 have just broken ground. The neighbor directly next door offered $90000 less and got it. The home we are looking at is an inventory home which they are trying to get rid of so they can release more lots. Last month the asking price was $349,900 and now it is at $329,900, the home builders rep said the bottom they would go would be $325,000, so would you still try to negotiate, or would you take that price and run?

Re: Contemplative Question.... Looking for advice

honestly, I'd be afraid to buy in that subdivision at this time. With the builder dropping their drawers on prices & so few homes built, what if the builder goes belly up? So many are right now even huge national builders like KB have halted construction on some communities leaving the people that are already living there in an unfinished construction zone without street lighrs or ammenities in some cases.
I would do a TON of research on that builder & their financial situation. If the community doesn't get finished your house will be worth half.

Re: Contemplative Question.... Looking for advice

We have been thinking of this situation as well. The research we have done shows that he is a very reputable builder, with solid backing and I know that does not mean anything. How would we go about finding all of this information out?

Re: Contemplative Question.... Looking for advice

if its a public company you can research it that way. If not I'd would skip that community & find another that is closer to being finished or find a barely lived in resale.
It will take at least three years to build over 200 homes, is that how you want to start out your new home experience, listening & looking at construction all the time?

Re: Contemplative Question.... Looking for advice

Thanks for the input! Good and valid points, we realize there will be construction in the subdivision, the home in question is thankfully on a finished road, BUT we still have to think about the side streets, and the amenities area. Pondering..... lol