After months of looking for a home and going to open houses, you’ve decided you’re going to go a different route – building a new home.
New Construction Homes
While deciding on new construction homes: what to look out for – depending on where you live and budget – there are some things to keep in mind.
Of course, one major perk to buying new is that you will be the first owner and everything will be brand spanking new. While in the process you can ask for the exact specifications you want which will let you move into a place you will love for many years.
To make sure you are prepared, here’s a list of things homebuyers should know about new construction homes and what to look out for.
Sort of like buying a new car there’s a bevy of options available when you're constructing a new home. For example, if you're buying a new home in a new community or development you can sometimes choose from a set of pre-selected packages.
It’s fine to go for a whole package in some cases or choose each option separately.
More Time Involved
New construction homes take time, at least months and sometimes even longer so you will need to figure out where to live during this time. Also, new construction homes and what to look out for should be learned in advance. For example, buying a new construction home’s waiting period for completion will be longer than if you buy a pre-existing home. But it could be fun and inspiring to stop by and see the progress of the construction when you can when deciding on new construction homes and what to look out for.
Home Warranties Are a Good Idea
Homebuilders are in the business of building the best home they can, but that shouldn’t steer you away from getting a home warranty. Why? If one of the appliances turns out to be a dud, for example, you don't want to have to pay to replace it since you already paid a bundle and learning about new construction homes and what to look out for.
Before you move into your new home, make sure you understand the warranties that are available so you can take advantage of the options suitable for your situation and when opting for new construction homes and what to look out for.
It's Good to Have a Real Estate Agent
While opting for new construction homes and what to look out for and when buying directly from a developer, it's a good idea to hire a real estate agent to represent you. Going to the new construction homes option and knowing what to look out for is key. A real estate agent can help make the paperwork process run smoother and ensure that you've completed everything needed to transition into your new home. Also, a real estate agent will ensure that you're getting a decent price and didn't miss any details that may lead to being problems in the future as you embark on a new construction home and what to look out for.
Even though building a home can seem like an eternity, the reality is moving into a new construction home is worth it in the long run. Just knowing you're the first family that will live there should get you excited and ready to make memories in the home. Opting for new construction homes and what to look out for can be a wonderful time in your life.
With the right planning buying a new home can be as easy as buying any other home and purchasing a new construction homes and knowing what to look out for is helpful.
Be Sure to Tour the Model
One great way and one you should make sure you do is to take a tour of the models before committing to building a home with the developer. And going the new construction homes route and knowing what to look out for.
A model home serves as a virtual and/or interactive showroom appointed with tons of premium upgrades the builder has to offer. The purpose of new construction homes and knowing what to look out for is to show the customization a builder offers by letting potential buyers experience the full design potential of a home of their new construction homes and what to look out for.
Remember one thing: model home configurations aren’t usually reflected in base sales prices. Why? Most base prices are based on the homes featuring builder grade options, aka fewer premium materials and finishes. This is just one important factor to consider when thinking about a new construction home and what to look out for.
Usually, design options on a model home are flexible meaning you can decide which upgrades you want to add to the base specs and those you don’t. Adding premium amenities to the home’s design can increase its value. Be sure sure to consult your budget before making any final decisions when going to the new construction homes and what to look out for.
Know Financing Options
Besides opting for a custom-built new construction home and learning what to look out for, realize that many builders offer representatives on-site who can help with the process from start to be finished, including finding a lender.
Many experts say being pre-qualified is key when financing a home. Your budget will be a determining factor of the time frame and the area the home is located, as well as starting cost of a new construction homes and what to look out for.
Homebuilders typically have a list of reputable lenders they can refer you. Make sure you understand the various loan options available to potential homebuyers who want to buy a new home, such as conventional, FHA, Jumbo, and VA loans, all helpful when opting for a new construction homes and learning what to look out for.
Asking Questions is Important
Unlike buying a used home you won’t be able to see the finished product until it is completed when choosing a new construction homes and knowing what to look out for This is why it is imperative to ask questions during the process of building a new home. Stay in contact with the builder regularly and ask how things are coming along, etc. during the process of new construction homes and finding out what to look out for.
Research the area the home is being built as well as the homebuilder after you decide you want to go with this builder. Ask the sales rep if you can visit a job site before buying and see how the builder works, constructs, and how they operate the site. Know this is important when you want to do a new construction homes and what to look out for
Consider asking questions about the builder’s past work before getting too involved. Asking questions about new construction homes: what to look out for will not only help manage expectations around the process, costs, and timelines but help calm you as you wait for the home to be completed.
Here are a few common questions to ask your builder when choosing new construction homes: what to look out for
What are the builder’s various projects in the area?
What percentage of the homes/0roperties/plots have sold to date?
Who is a point of contact during the build?
Which features are included and which are upgrades?
What happens if there’s a delay in the schedule?
How often will you be able to view the home during construction?
Try searching online reviews of the builder do a drive-by of any of their previous projects ore get references from others who may have hired the rebuilt from the sales rep during a new construction homes and what to look out for.
Your timeline might affect your options, too. While a model home is a new construction per se purchasing one if you like it still qualifies you as the first person to live in it. And a new construction homes while looking as to what to look out for could be a model. Depending on the status of a development project, you could purchase a model home (premium upgrades and all) for a good price.
This could be an option if you are under a time limit -- say you already sold your home; you still get a new home that’s turnkey ready and can move into the new construction home after learning what to look out for.
And remember time is one big factor when building a new hone from the ground up and should be considered when going for a new construction homes as one of the things to what to look out for. It can be the perfect option for buyers who want to buy but aren’t under a time frame.
Also, remember there can be delays when building a home like weather conditions at the building site and delivery of building materials can cause delays and completion of a custom-built home.
Experts suggest on average new construction takes between 7 months to slightly under a year to complete.
Having your new home inspected is still a good idea, even though it is new.
Do consider hiring a home inspector for new construction as these too can have structural issues. It’s always a good idea to have any home you purchase inspected by a licensed professional before closing on new construction homes and learning what to look out for.
Like a previously owned home, the home inspector is there to verify that the property is safe and up to code. If any of the work done is not passable the inspector will include it in his report and suggest a fix. You’ll then be able to bring your concerns to the builder and maybe negotiate a fix.
If you want to be the first to live in a home or prefer designing one, building a new home could be your best bet.
Whether it’s a custom-built home from the foundation up to the roof or you prefer a previously owned home, homebuying can be a stressful time. Be sure you do your due diligence from researching the community and the home builder to choosing the best home inspector for you before you start calling in the movers.