If you are looking to buy new from a builder, then no, I'd say there is no chance you'll get a 340k house down to 240k.

You'd have much better luck negotiating on a home that's already been built, because the builder is already out-of-pocket all the expenses and might be desperate to recoup some of them. On a new build, you aren't going to be able to negotiate them down below their cost-to-build.

BTW, I'm speaking generically here, not about the builder you're interested in. I know nothing about them.

Okay. I understand and agree. I myself don't want to be unreasonable to anyone. It's just i don't know how these negotiation works. Let me put it this way.

I have seen two move in ready houses. Same model different structure. Both costs $275K each. 3400 sq ft. Later realized the base price of this model is actually 2850 sq foot costs $230K. So it looks like they must have made some upgrade and selling this for $275K as there is a diff in sq foot.

Although i like the model, both readily houses has pros and cons in the backyard. The one i like has no space in backyard but other one does which am not very happy about.

Later came to know there is a free lot available where i can build it the way i want it, and the lot is flat and all. I like the lot.

According to this scenario, what's the best price i can get? It is in Popler Tent road. I heard it gets crazy traffic in the peak hours, and i gotta drop my kids to daycare and go to work and all. Compare to Winding Walk and Christenbury, if i have to go without his, obviously there should be a good reduction in prices. Atleast as a buyer that's what i think.

How should i approach this? And what are all the hidden costs involved that i need to talk to a builder upfront? Like closing cost, upgrades, some fees etc.

Please advise. I am seeing the median sale price for this similar bedroom houses goes for $205K in zillow. Your thoughts please?

Hello ihari,
I work all those neighborhoods mentioned. To find out what the builder is willing to accept is to look at the recent past sales and see what the buyers are paying for them. Most new homes are advertised with a base price. Realistically, the purchase price is higher once the buyer customizes it.
You can get this info from a buyers agent, or maybe online your self. IMO, you want to be represented by an agent. The builders treat agents as repeat customers vs. buyers who they know are a one time purchase.
You also need to get pre qualified ASAP. The letter is good for 90 days and you are not obligated to that lender. You will need this in order to present an offer.
All of those neighborhoods you mention are nice. Christenbry is the "nicest". They all have their goods and bads. Poplar tent Rd. does get busy especially during the four weeks in the fall when the Rennasaince festival is open. Also, around those areas, always be aware of where the mulch farm is... Too close downwind and there can be problems.
Keep us informed.

ihari-
Forum rules do not allow Real Estate Agents to seek business on this site, but I am allowed to recommend someone else, so I will say, you should contact ncrealestateguy because he has been a smart contributor to this forum for years and knows his business. Since he works those neighborhoods you're already looking at, he'd make a terrific buyers' agent for you.
Good luck!

Thanks C9Pilot.
OP; if you want a monthly P&I payment of about $1300, then at 4.5% interest,you could finance $265,000. At 3.5%, you could finance $295,000. Both scenarios net you a little over $1300. Depending on what the lender says you qualify for, you really don't know exactly what properties to look at.
I was inside of a very nice home in Winding Walk last week. Newly Listed for $295000. It is only 4 or 5 years old. Very clean. The new construction is typically running a bit more in price than the resales. Have you considered resales too?